The Real Deal Miami

Florida East Coast sells Sunrise Corporate Plaza for $19M

A Stiles affiliate obtained a $12.6M mortgage

June 08, 2015 03:15PM
By Katherine Kallergis

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1300 Sawgrass Corporate Parkway in Sunrise and Rocco Ferrera

1300 Sawgrass Corporate Parkway in Sunrise and Rocco Ferrera, CIO of Stiles

Fort Lauderdale-based Stiles acquired an office plaza in Sunrise for $18.9 million, according to Broward County records.

An affiliate of Florida East Coast Industries, the overarching company behind All Aboard Florida, Flagler Global Logistics, Flagler and Parallel Infrastructure, sold Sunrise Corporate Plaza, at 1300 Sawgrass Corporate Parkway.

The 112,601-square-foot building sits on nearly 8 acres and was developed in 1999, according to Broward County property records. It last sold in November 2007 for an undisclosed amount.

PNC Bank granted the buyer, SPF Sunrise Corporate Plaza, a $12.6 million mortgage, records show. Stiles Chief Investment Officer Rocco Ferrera signed the loan.

Last week, Stiles sold a Publix-anchored shopping center in Hollywood for $39 million.