Stiles Wins 109,000-SF Retail Leasing and Property Management Assignment in Boca Raton
*Stiles repositions property to increase exposure for tenants and drive traffic
Fort Lauderdale, FL – July 10, 2013 – (RealEstateRama) — Cohen Commercial Properties (CCP) has tapped Stiles Realty and Stiles Property Management to lease and manage Shoppes at Boca Greens, a 109,228-square-foot retail shopping center in the highly affluent residential neighborhood of West Boca Raton, Florida.
According to CCP principal Andrew J. Cohen, the group hand-picked Stiles for their proven track record in successfully repositioning comparable retail centers throughout South Florida. With a goal to revitalize the center, Stiles will execute a custom strategy for CCP aimed at boosting tenant exposure, increasing traffic flow and creating long-term value for the asset.
“Stiles brings outstanding experience and capabilities to the leasing and management of Boca Greens, and we are delighted to be working with them,” said Cohen. “We are encouraged by the strong level of interest and activity the property is experiencing, and we anticipate that as Stiles executes on their repositioning strategy the level of activity will accelerate even further.”
A Stiles team led by president of Stiles Property Management Chris Rotolo and senior retail leasing agent for Stiles Realty Dan Coyle is already marketing the center’s available space while executing on the repositioning plan. The plan includes renovating the exterior façade, reconfiguring the entrance to ease traffic flow, softening the outdoor environment with lush landscaping and modernizing monument and tenant signage. According to Coyle, the center’s favorable demographics will contribute to its long-term success, citing the fact that average household income within five miles of the center exceeds $105,000 and annual population growth remains at about 2.5% per annum.
“As the premier retail corridor of west Boca Raton, the area surrounding the asset provides a strong affluent family demographic, which will only grow as new single-family homes are developed in the future,” commented Coyle. “In addition, its existing tenant lineup creates excellent co-tenancy opportunities with nationally-recognized restaurant, children’s apparel, and service companies. We’re very pleased to be working with CCP to bring the center to its fullest potential and expect it to meet strong demand.”
The Shoppes at Boca Greens is strategically located at 19575 State Road 441 between Glades and Yamato Roads. The surrounding neighborhood has more than 151,000 residents and is trafficked by nearly 46,000 cars per day. The center is home to a variety of quality restaurant, service and lifestyle tenants, including Denny’s Children’s Wear, Harmon Stores, Annie Sez, Outback Steakhouse, Pediatric Associates, and Westside Bagel Deli. Further illustrating the area’s appeal and long-term potential, several major national retailers, including Fresh Market, HH Gregg, LA Fitness, and Best Buy are all located within five miles.
Available bays range between 840 square feet and 5,100 square feet. Space may be reconfigured to accommodate another junior anchor, such as a specialty grocer. Please contact Dan Coyle at 954-627-9400 or dan.coyle (at) stiles (dot) com for more information.
About Stiles
Stiles is a full-service commercial real estate firm with a clear mission: Invest, Build, Manage. With its diverse capabilities, Stiles has achieved a stellar reputation for excellence and market leadership within the real estate industry. In addition to Development, Construction, Architecture, Realty and Property Management, Stiles also specializes in Financing, Acquisitions and Repositioning. The Company is responsible for more than 40 million square feet of office, retail, residential, mixed-used and industrial projects throughout the southeastern United States. Since 1951, Stiles has played a vital role in South Florida’s rise to prominence. With a multitude of award winning projects, Stiles inspired the revitalization of downtown Fort Lauderdale, Florida, the home of its headquarters. The Company also maintains regional offices in Miami, Tampa, West Palm Beach, Naples, Fort Myers and Orlando, Florida, as well as Charlotte, North Carolina. For more information, please visit www.stiles.com or call 954-627-9300.
Media Contacts:
Adrienne Zalkind
Vice President, Stiles Marketing
954-627-9148
adrienne.zalkind (at) stiles (dot) com
