The Real Deal Miami

Publix bags Hollywood shops for $39M

Stiles paid $13.5M for the property in 2013
By Katherine Kallergis | June 02, 2015 11:15AM

Westlake Commons in Hollywood

Westlake Commons in Hollywood

An affiliate of Fort Lauderdale-based Stiles sold Publix Super Markets a store-anchored shopping center in Hollywood, according to Broward County records.

A Publix affiliate paid $39 million for the 13.6-acre site at 1700 Sheridan Street. Other tenants of the newly built shopping center include Starbucks, Chipotle, Pollo Tropical, Wells Fargo and a UPS Store.

Dan Coyle of Stiles Realty is the leasing agent for Westlake Commons, according to the property’s listing.

The site, which borders Sheridan Street and North Federal Highway, last sold for $13.5 million in March 2013, according to Broward County property records. It was built in 2014.

Stiles is a real estate development firm with offices in Miami, Fort Myers, Tampa, Orlando and Charlotte, North Carolina. Stiles’ South Florida developments have included The Pointe in Palm Beach Gardens, Biscayne18 in Miami and Coral Landings in Coral Springs and Margate. The company sold a Fort Lauderdale Publix store to the supermarket chain in April for $22.5 million.

In March, Publix announced that it would invest $1.3 billion in new store construction, remodeling, technology and real estate in 2015.