Tag Archive for: stiles

Stiles Represents Behavioral Health Firm In New 30,000-SF Lease Signing In Lauderdale Lakes

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Stiles Realty, a division of the full-service commercial real estate firm, Stiles, announced that Infinity Behavioral Health Services, a behavioral healthcare management provider, signed a long-term lease for 30,000 square feet in Lauderdale Lakes at Headway Office Park.

Stiles Realty Senior Vice President Madelayne Garcia represented Infinity Behavioral Health Services. Donna Korn and Beau Ladwig of Cushman & Wakefield represented the landlord.

Inifinity’s new office includes two contiguous floors that are fully renovated, including updated tenant spaces, common areas and building systems. Stiles Realty worked closely with the building management to meet the tenant’s build-out needs, which include personal call rooms and conference areas.

“Infinity was seeking a unique space to expand their operations and remain in Broward County” Garcia said. “Infinity is a very employee-friendly company with a serene working environment, including a casual dress code and the ability to bring pets to work. With our knowledge of the market, and great working relationship with the management team, we were able to create the environment Infinity was seeking.”

Since 2011, Infinity Behavioral Health Services has been providing revenue cycle management services to behavioral healthcare providers. Infinity centers its process around industry-leading consulting services and an extensive account management system.

 

International Digital Consultant Firm Inks 20,000 SF Lease

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Stiles Realty is pleased to announce a new lease signing as well as a pair of lease renewals at Sawgrass International Corporate Park in Sunrise.

Synechron, Inc., a $500 million international digital consulting firm, signed a lease for 19,683 square feet while insurance firm MacNeill Group renewed its lease for 37,818 square feet at Sunrise Corporate Plaza. Additionally, Emerson renewed its lease for its 17,065-square-foot Latin American headquarters at Lake Shore Plaza II.

Senior Vice Presidents Madelayne Garcia and Tom Kates handled the leasing for Stiles Realty, a division of the full-service real estate development firm, Stiles.

Sunrise Corporate Plaza (107,748 SF) and Lake Shore Plaza II (128,470 SF) are Class A office buildings featuring impact-resistant windows, lakefront views and outdoor courtyards. Both are located within Sawgrass International Corporate Park, just one mile from the Sawgrass Mills Mall and BB&T Center with convenient access to I-75, the Sawgrass Expressway and I-595.

“The addition of Synechron as well as the renewals of MacNeill and Emerson continue to affirm Sunrise Corporate Plaza and Lake Shore Plaza II as attractive office locations for top national technology and professional service firms,” Garcia said.

Headquartered in New York City, Synechron has more than 8,000 employees operating in 18 countries. Synechron provides a wide range of digital consulting services from strategy and UX to marketing science and development. The 89-month lease is valued at $4.6 million. Tenant representative was Tony Jones of Cushman & Wakefield.

A member of the Team Focus Insurance Group, MacNeill Group’s 130-month renewal is worth $40 million. MacNeill was established in 1946 and works exclusively with top-rated property and casualty (P&C) insurance companies specializing in commercial, personal, transportation and flood lines, and provides independent agents throughout the Southeast. Robert Listokin of Colliers lnternationalrepresented the tenant in the lease negotiations.

A 128-year-old global automation technology and software company, Emerson provides technologies and strategies for customers in manufacturing industries such as oil and gas, power, chemical, life sciences and others. The company has 76,500 employees across the globe and revenues over $25 billion. The renewal is for 65 months at a value of $3.1 million. The national tenant representative was Patrick Fitzgerald of Axiom Advisory Group while Zach Talbot of Cresa South Florida was the local tenant representative.

Terry Stiles To Be Honored At NAIOP’s Awards Of Excellence

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During its Awards of Excellence banquet on March 15, NAIOP South Florida will pay tribute to commercial real estate giant Terry Stiles for his unparalleled contributions to South Florida’s business community.

Through more than four decades of leadership, Stiles led the transformation of downtown Fort Lauderdale and helped position Broward County as one of the most desirable locations for business, culture and living.

In recognition of Stiles’ pivotal work and a lifetime of achievements, the South Florida chapter of NAIOP, a Commercial Real Estate Development Organization, has donated to Nova Southeastern University’s campaign to create the Terry Stiles School of Real Estate Development, a master’s degree program at NSU’s H. Wayne Huizenga College of Business and Entrepreneurship.

Funds from this campaign also will allow worthy students to complete their studies by providing scholarships in Terry’s name.

“Look anywhere in Fort Lauderdale and you’ll see the legacy that Terry left behind,” said NAIOP South Florida Executive Director Jules Morgan. “He shaped the very foundation of South Florida as it stands today through iconic developments in all areas of the region. Terry was and continues to be an inspiration to all those who knew him. He was dedicated to not only creating a thriving region of economic prosperity, but also to supporting industry professionals and organizations such as NAIOP. While we have been fortunate enough to recognize Terry in the past for his momentous accomplishments and transformational endeavors, today marks our most important recognition of all – a celebration of the life and legacy of a man who believed anything was possible.”

Stiles was a member of NAIOP South Florida for more than 35 years and served as the chapter’s president from 1982 to 1984 and as national chairman in 1998, leading the executive committee and spearheading development initiatives that benefitted chapters across the country. For his efforts, he was awarded the illustrious NAIOP Lifetime Achievement Award in 2000.

The 2018 Awards of Excellence ceremony and dinner will take place on Thursday, March 15 from 5:30 to 9 p.m. at The Ritz Carlton, located at 1 N. Fort Lauderdale Beach Blvd. in Fort Lauderdale. The Awards of Excellence recognize the individuals and organizations whose achievements have contributed to the local commercial real estate industry, benefitted the regional business environment and facilitated economic growth in South Florida.

Tickets are $195 for NAIOP members and $245 for non-members. Sponsorship opportunities are also available. To register to attend, visit www.naiopsfl.org/events.

 

Class A Office Tower On Las Olas Undergoes $3M Renovation, Achieves LEED Gold

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Stiles announced today that its leased and managed Class A office building located at 200 East Las Olas Blvd. is undergoing a $3 million renovation while casual eatery Beehive Kitchen prepares to open its second restaurant location on the ground floor this month. In addition, the office tower recently achieved LEED Gold certification, a national benchmark of sustainably by the U.S. Green Building Council (USGBC).

 

“We are thrilled to provide our tenants with an enhanced working environment and another quality restaurant option,” said Rick Stein, Stiles Asset Manager. “From new lobby finishes to interior and exterior lighting that will set the building apart, we aim to create a sense of luxury that rivals the newer office buildings on Las Olas.”

200 east las olas-interior renovation 2

Developed in 1989, 200 East Las Olas was the first Class A office project to be erected on Las Olas Blvd. Stiles Tenant Project Management Services lead by Vice President Mike Miller is completing the renovation. It will be the most substantial renovation since the building’s completion and includes lobby upgrades with modern wood finishes, updated elevator atriums, new furniture and enhanced interior lighting. In addition, new exterior lighting was recently installed along the front of the tower to illustrate its unique architectural design within the downtown skyline.

According to property manager Judy Carter, the team went through an extensive process to achieve Gold certification.

“We analyzed everything from weekly meter readings to prove utility efficiency, vendor products to ensure they were LEED compliant, lighting sensor inspections, even a tenant transportation study to show the high volume of fuel efficient vehicles, amongst other things,” said Carter.

“Sustainable practices have become a Stiles Property Management standard that has helped to cut down building operating expenses while maximizing the value and performance of our buildings,” commented said Stiles Property Management president Chris Rotolo. “As a result, our clients generally achieve a ten percent reduction in operating expenses only 30 days after we take over an assignment.”

200 East Las Olas is a 21-story mixed-use Class A office tower featuring panoramic views of downtown, the ocean and the New River. More than 2,200 new residential units are in development within a one-mile radius and the tower is planned to be a stop on the city’s new Wave trolley service. Easily accessible from I-595, I-95 and US-1, 201 East Las Olas is within a ten-minute drive of Fort Lauderdale/Hollywood International Airport and Port Everglades.

 

 

 

Cool Drone Shots of 6400 Andrews – And Don’t Miss Our Broker Lunch Thursday July 30

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Hover over picture and click on arrow to advance the slide show

The 6400 Building is a five-story 55,000 square foot Class-A office building in Fort Lauderdale’s Cypress Creek or Uptown submarket. We hope you enjoy these great drone photos taken in June that show the buildings strategic I-95 location that combines uptown convenience with downtown amenities.

The building was developed by the Stiles Corporation in the mid 1980s and served as the company’s headquarters. Many of Broward County’s top office and retail developments were born within our blue glass facade. The property was purchased by Pebb Enterprises in 2004 and served as Pebb’s headquarters until they moved to Boca Raton in 2012.

Pebb Enterprises is one of the nation’s premier Real Estate Investment, Development, and Management Companies. Today Pebb owns, operates and develops a diversified portfolio of commercial properties throughout the nation. They are a family owned business that has operated out of South Florida for over 35 years.

With signature tenant The South Florida Business Journal relocating to Miami, the entire second floor, totaling 10,642 square feet will be available in September. This creates an unique opportunity for building top signage with a daily traffic count of over 190,000 cars on I-95. We also have great spaces at 1,644 or 2,181 square feet.

The building is within walking distance of over a dozen restaurants, a gym, two urgent care centers, an Office Depot and a movie theater. Wells Fargo has a branch on the ground floor. The common areas were beautifully renovated in 2014. It is a building you need to see to appreciate.

That is why we are holding a broker lunch on July 30 at noon. Watch your email for trivia questions to be entered into our cash drawings for $750 in prizes. The event is invitation only for licensed real estate brokers active in the Cypress Creek market. If we somehow missed you and you’d like to attend, please call Brenner Real Estate Group at 954-596-5555 and ask for Bea. We look forward to seeing you and hope we can put your client’s name on our building. Read more

Class A Las Olas Office Asset Fetches $108 Million

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Fort Lauderdale-based Stiles and Prudential Real Estate Investors announced today the acquisition of 200 East Las Olas, also known as New River Center, a 20-story trophy Class A office tower located directly on Las Olas Boulevard in the heart of Fort Lauderdale’s bustling central business district.

Developed by Stiles in 1990, this institutional quality asset is currently 86% leased and encompasses 281,713 rentable square feet of some of the most desirable office and ground-floor retail space in the vibrant South Florida region.

The property was acquired from Invesco Ltd. for $108 million, or $383 per square foot, by a joint-venture between Stiles Property Fund (SPF) and PREI. SPF is a discretionary value-added real estate fund that invests in office and retail properties throughout Florida. PREI®, among the world’s largest real estate investment management and advisory businesses, is a business of Prudential Financial, Inc.

New River Center was marketed through commercial real estate and capital markets services firm HFF, L.P. Hermen Rodriguez, senior managing director at HFF L.P., led the sale effort along with Ike Ojala, Jorge Portela and Tracey Goo.

“We are proud to once again partner with Prudential Real Estate Investors, one of the nation’s top commercial and residential investment groups,” said president of Stiles Doug Eagon. “As its original developer, we have come full circle with New River Center. Given our deep knowledge of the asset, the property’s upside potential and the robust market outlook, this acquisition fit well with our investment strategy.”

New River Center is positioned on 1.4 acres and includes unparalleled views of the New River and downtown Fort Lauderdale. The property consists of a 12-story office tower above an eight-story parking garage with 675 spaces, as well as nearly 15,000 square feet of ground-floor retail. It is currently leased to “blue chip” tenants, including: Fifth Third Bank; Akamai; Yum! Brands; Brinkley Morgan; and Stearns Weaver.

Following the acquisition, Stiles plans to implement its asset management best practices to drive further upside and additional synergies at New River Center. Stiles Leasing and Management will be engaged exclusively to handle the asset.

“The opportunity for SPF to acquire prime office real estate on Las Olas Boulevard with upside potential made this investment very attractive,” said SPF Fund Manager Kyle Jones. “We are looking forward to executing our business plan and creating further value at the Property utilizing Stiles’ diverse range of services.”

While Stiles has a long history of real estate transactions, New River Center is the first office transaction the Company has made through SPF, which it launched in 2011. Previous SPF acquisitions have targeted retail shopping centers throughout Florida and have included: Ormond Beach Mall, a 102,170-square-foot Publix grocery-anchored center in Ormond Beach; Market at Southside, a 95,135-square-foot center in Orlando; the former PGA Design Center, a 145,500-square-foot mixed-use property in Palm Beach Gardens; and Galleria Plaza, a 29,443-square-foot center in one of the most visible and affluent retail corridors of Fort Lauderdale.

According to Eagon, Stiles remains very active in Broward and especially the central business district of Fort Lauderdale, which is characterized by an urban lifestyle that has helped to drive concentrated growth in the downtown area.

“The 24/7 environment in downtown Fort Lauderdale is contributing to a thriving market with strong employment growth and lower vacancy rates,” commented Eagon. “Most of the new jobs being created are in the downtown urban areas of South Florida, including Brickell Avenue and Coral Gables.”

Stiles track record on Las Olas goes back to 1951 when the company was first established. Stiles has since developed 43 million square feet of real estate throughout Florida and more than 3.5 million square feet of projects in downtown Fort Lauderdale with uses ranging from office and retail to residential and associated parking. Responding to market demand for urban living, Stiles is currently underway with an ultra-luxury 254-unit apartment high-rise one-block from Las Olas Boulevard.