Tag Archive for: stiles

Stiles, Pointe Group Advisors Win Big At TOBYs

/in /by

Stiles‘ owned and managed office buildings, the historic Plaza at Las Olas and The AutoNation Building in downtown Fort Lauderdale, were honored with The Outstanding Building of the Year (TOBY) awards from the Fort Lauderdale/Palm Beach Building Owners and Managers Association (BOMA).

Overall, Stiles received six distinguished TOBY awards for quality office and retail projects as well as its management personnel.

Stiles corporate headquarters, Plaza at Las Olas, was the recipient of the TOBY award in the Corporate Facility category. Originally built as a two-story structure in the 1940’s, Plaza at Las Olas has been renovated four times over the last eight decades and has become a landmark on Las Olas Boulevard. With its most recent renovation, the property earned LEED certification while being transformed into a contemporary and functional office space boasting nine stories, clean lines, a crisp façade and Class A restaurant and retail on the ground floor.  The property is managed by Stiles property managers Alexandria Brown and Nicki Oneill.

Recipient of the Earth award, The AutoNation Building in downtown Fort Lauderdale was granted top honors for sustainability. The 17-story building is LEED-Gold certified and acknowledged for energy conservation, indoor air quality, green cleaning and tenant education. Managed by Stiles property manager Megan Purdue, the property is located at 200 Southwest 1st Avenue and comprises more than 187,000 square feet of office and 17,000 square feet of retail near Las Olas Riverfront.

In the retail property category, Stiles was honored with a TOBY for its managed shopping center Tower Shops located in Davie. The 368,831-square-foot property is owned by Federal Realty investment Trust and managed by Stiles property manager Danean Belloise.

Stiles is also proud that two of its key personnel, John Braun and Megan Purdue, were honored with the esteemed Engineer of the Year and Property Manager of the Year awards, respectively. Purdue was also presented with the distinguished Ron Macklin Scholarship award for the second consecutive year for her contributions to the industry.

International Place II,  a 95,000-square-foot Class A office building in Sunrise, managed by Miami-based Pointe Group Advisors, was honored with the 2014 “The Outstanding Building of the Year” (TOBY) Award in the category of buildings under 100,000 square feet.

The building’s major tenants include BB&T, Berkshire Hathaway Home Services and Elderly Housing Development Corp. The building is located in the heart of Broward County’s Sawgrass neighborhood, just minutes away from Sawgrass Mills and the BB&T Center.

The TOBY Awards were held at the Harbor Beach Marriott Resort and Spa in Fort Lauderdale, on Nov. 7, 2014.

 

Las Olas Abuzz With Activity

/in /by

Las Olas Centre has a new owner and the boulevard is getting a new Class A office building.

Deutsche Asset & Wealth Management’s (formerly RREEF Real Estate)  real estate investment business snapped up 350 and 450 East Las Olas Boulevard in Fort Lauderdale on behalf of one of its clients.

Financial terms of the deal were not disclosed.

A victim of the economic meltdown, the two towers faced a $219 million foreclosure in 2009, ironically after signing a series of lease renewals. It was 95% occupied at the time.

“Las Olas Centre is a great addition to our portfolio,” says Todd Henderson, head of Real Estate for the Americas at DeAWM. “We believe Las Olas Centre is the premier office asset in the market with exceptional amenities including its retail tenancy.”

In 2010, the two-building office complex spanning 469,353 square feet in the Las Olas corridor, sold for $170 million. San Antonio-based USAA Real Estate Company affiliates US Republic Core Fund and US Premier Office Equities purchased the towers from BF Las Olas, LLC, an entity of Wachovia/Wells Fargo about four years ago.

“Our view is that the buildings’ improvements and central location in the Fort Lauderdale CBD will continue to attract top tier tenants at market leading rents—positioning the property to deliver strong long term returns for our client,” says Henderson. The property offers office and retail space in Fort Lauderdale’s Central Business District.

Las Olas Centre occupies about 3.4 acres and 600 feet of frontage on Las Olas Boulevard. Certified LEED Gold with the U.S. Green Building Council, the project is one of very few options for trophy quality class A office space in a desirable location due to walking distance to shopping, restaurant and entertainment precincts, as well as proximity to airports, highways, and executive housing.

Just a few blocks away, the One West Las Olas office building in downtown Fort Lauderdale got an $8.67 million construction mortgage from Branch Banking & Trust Co.

The bank made the loan to One West LOA LLC, which is managed by attorneys Jeffrey Ostrow and Brian Kopelwitz. They are the managing partners of Kopelowitz Ostrow P.A., which will be the anchor tenant in the 40,000-square-foot “Class A” office building.

Stiles Construction is the general contractor for the project at 13 West Las Olas Blvd., along South Andrews Avenue.

The six-story building will break ground in May.

 

Source:  GlobeSt.

 

 

Stiles Grows Team With Addition Of Lee Wheeler

/in /by

Local commercial real estate veteran Lee Wheeler has joined Stiles Realty.

Wheeler, a 34-year real estate professional, joined the company on February 3rd as senior advisor, reporting to Stiles Realty President Paul Marko. He will be based out of Stiles’ headquarters in Fort Lauderdale. This strategic hire comes at a time when Stiles Realty looks to build on the momentum it is creating in core markets throughout Florida, where it has recently expanded its team.

Wheeler specializes in investment sales, land brokerage and build-to-suit commercial properties. Over the course of his career, he has completed more than $2.5 billion in sales transactions ranging from urban office sites to large planned development communities. In this new role, Wheeler will focus on growing the firm’s footprint across Florida while leveraging Stiles’ diverse range of services.

“Lee is highly trusted in our industry with a tremendous track record of completing large transactions and establishing lasting client relationships,” said Marko. “His strength and experience in the build-to-suit and land arena is synergistic with Stiles’ multi-faceted business platform, which includes development, construction management, architecture, and property management.”

Throughout his career, Wheeler has represented major institutional owners and developers including Equitable Life, General Electric, The St. Joe Company, Teachers Insurance and Annuity Association, Duke REIT, Codina/Flagler Development and the MacArthur Foundation.

Stiles Realty offers a full-service real estate brokerage platform focused on industrial, office and retail properties. Additionally, Stiles Realty launched its Investment Sales division in late 2012, with a focus on high-profile quality office and retail opportunities below $12 million.

“Stiles is a very strong company that has established a stellar reputation over its decades of success in Florida,” Wheeler said. “I am excited as I see the potential for significant growth in Stiles Realty on top of that foundation. I feel confident that my broad and varied outlook gives me the insight into how we can meet the evolving needs of our diverse clients while achieving the goals of Stiles Realty,” Wheelersaid.

Prior to joining Stiles, Mr. Wheeler served as a principal and broker for Miami Land Company, where he focused on land acquisitions for development companies, site entitlements, zoning and government approvals. He spent ten years with the Codina Group where he focused on land and investment sales. Mr. Wheeler held an eight-year assignment with the MacArthur Foundation, where he was responsible for the disposition of more than 60,000 acres of commercial land, 10,000 apartment units, and over one million square feet of office, industrial and retail properties.

“Lee brings to our company a valuable skillset that adds depth and versatility to our growing team,” commented Marko. “I have known him for many years and am grateful to have him aboard as we continue to grow our business and look toward the future.”

 

Madelayne Garcia Signs Media Company To 7-Year Deal

/in , /by

Comcast Spotlight, the advertising sales division of Comcast Cable, will lease 14,218 square feet at Offices at Miramar Town Center located in Miramar, according to an announcement by Stiles Realty.

The media and technology services provider signed a 7.5-year lease bringing the center to 100 percent occupancy.

Stiles Realty director Madelayne Garcia represented the landlord, Rock-Kim Miramar, LLC, and Jones Lang LaSalle senior vice presidents Jonathan Kingsley and Stephen Rutchik represented Comcast Spotlight in the transaction.

Comcast Spotlight is one of two leases to help bring the property to full capacity. Garcia, who took over the listing in 2012 when 18,000 square feet remained available, recently signed another lease with attorneys Lopez and Morales, PA, for 3200 square feet. Another notable tenant at the Offices at Miramar include U.S. General Services Administration for about 15,000 square feet. The building is fully leased with the exception of a bank outparcel that remains available.

According to Garcia, Comcast Spotlight, who relocated from another building in Miramar, was attracted to the Offices at Miramar Town Center due to its high-end finishes, central location and accessibility. “This building is an excellent option for tenants seeking quality, flexible space and easy access to Florida’s major highways,” said Garcia. “The Offices at Miramar Town Center has an effective market niche and is drawing attention from large and midsize users. In the case of large-user Comcast Spotlight, the property’s fine finishes and area amenities were a major deciding factor.”

The 42,027 square foot property, built in 2008, is a part of a mixed-use development featuring retail, residential and municipal buildings, located at 11606 City Hall Promenade just off of Miramar Blvd and only one mile from I-75 and Florida’s Turnpike.

 

Cornerstone Buys Sunrise Office Building For $32M

/in , /by

The Lake Shore Plaza II office building in Sunrise has traded for $32 million.

A company managed by Fort Lauderdale-based Stiles sold the 1300 Concord Terrace building to TR Lake Shore Plaza on Dec. 17, according to Broward County records. The county recorded the transaction on Thursday.

TR Lake Shore is managed by Connecticut firm Cornerstone Real Estate Advisers, which has had a busy month.

Cornerstone partnered with Boca Raton-based Crocker Partners on the $71 million acquisition of downtown West Palm Beach office building Esperante Corporate Center. That purchase closed on Nov. 26.

No financing was recorded for the Lake Shore purchase.

The 128,000-square-foot building was completed in 2008 on nearly nine acres. Tenants include Global Medical Management and Travel Insurance Center.

Another Stiles-managed company sold the Gateway at Sawgrass retail center in Sunrise for $16 million earlier this month.

 

Source:  The Real Deal

Avison Young Inks 17,000 SF Office Lease Deal

/in , /by

Online Vacation Center Holdings Corp., one of the country’s largest cruise retailers, has signed a new long-term lease for 17,225 square feet at Riverbend Corporate Park Building B, located at 2307 W. Broward Boulevard in Fort Lauderdale.

Greg Martin, Principal with Avison Young, worked with True North Management Group and Delma Properties, Inc., the new ownership of Riverbend Corporate Park, to complete the transaction.

The addition of Online Vacation Center increases the occupancy at the 66,917 square foot office building to 75 percent, a gain of more than 25 percent.

“The notable lease transaction with Online Vacation Center is an example of increased corporate optimism overall in the Broward market, specifically in Fort Lauderdale,” said Martin. “With plans for further office space development plus new retail in the area, Riverbend Corporate Park is the ideal place to locate and grow a business for years to come, with room to expand.”

“Online Vacation Center was seeking an impressive new location with convenient access to transportation and major thoroughfares for employees,” noted Martin. “At the nexus of the region’s existing transportation network and emerging transit hub, Riverbend Corporate Park presented a valuable solution to the office space needs of the company.”

Online Vacation Center was represented by Julie Berry, Broker Associate with Stiles Realty.