Stiles breaks ground on shopping center, leases 15K sf in office space

Publix Super Markets (Credit: Publix)

Fort Lauderdale-based commercial real estate firm Stiles has begun construction on a new $35 million shopping center called West Lake Commons at the corner of Sheridan Street and South Federal Highway, the Sun Sentinel reported.

Publix Super Markets, Pollo Tropical and Starbucks are expected to take up space there when it opens in the second quarter of 2014. Stiles bought the 14-acre, ex-Hollywood Lincoln Mercury dealership site for $13 million in March.

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Stiles also announced it has recently leased 15,315 square feet of office space on Las Olas Boulevard to two companies. Collectibles retailer Fanatics Mounted Memories will move its headquarters to the 105,000-square-foot Plaza at Las Olas, and One Sotheby’s International Realty is opening a new location at the 23-story 365,439-square-foot Las Olas City Centre.

Last month, Stiles sold the Sawgrass Technology Park at 1601 Northwest 136th Avenue for $52 million, one-third less than the $79 million it paid for the complex in 2005, as previously reported. [Sun Sentinel]Mark Maurer