Stiles Property Management and Las Olas City Centre Exceed Industry in Kingsley Tenant Survey
Posted on 1/28/2016Stiles Property Management, a division of Fort Lauderdale-based full-service real estate firm Stiles, announced today the company and Bank of America Plaza at Las Olas City Centre (LOCC) have outperformed the Kingsley Index and improved from the prior year in the 2015 Kingsley Associates Tenant Satisfaction Survey. The survey represents 16 out of 18 office tenants at the 99% leased LOCC, one of the most iconic office buildings in downtown Fort Lauderdale.
LOCC was developed by Stiles in 2002 and is owned by institutional investors advised by J.P. Morgan Asset Management — Global Real Assets, who commissioned the survey. Stiles has been managing and leasing the property since its development.
"Client and tenant satisfaction is our mission, and benchmarking ourselves against the industry and prior years is critical to our continuous improvement," said Chris Rotolo, president of Stiles Property Management. "Exceeding the Kingsley Index is especially rewarding given the high-profile and quality of the property as well as our recent accelerated growth throughout the state."
Located at 401 East Las Olas Boulevard, the 408,079-square foot LEED-Gold Certified office tower is an award-winning, Class A, 23-story office building with ground floor restaurants and retail space. LOCC offers hurricane glass protection and 24/7 security. The building won TOBY Award Building of the Year in 2008, 2010 and 2015 from the Broward/Palm Beach Building Owners and Managers Association.
The Kingsley survey reported that the building scored 4.94 out of five for overall satisfaction, which includes property management, quality of work, cleanliness, maintenance, security, and all property features. Stiles Realty and Tenant Project Management also achieved above average results, scoring a 4.67 and five, respectively.
Commented tenant Eli Mannogian, Florida Market Manager, PricewaterhouseCoopers LLP: "Stiles Property Management is very responsive to questions, sensitive to our staff and clients and accommodating when we require additional support and space."
More than 90 percent of tenants indicated excellent satisfaction and high likelihood of renewal and referral. Included in the survey were lead tenants Bank of America; Patriot National, Inc.; Crowe Horwath LLP; Greenberg Traurig P.A.; GrayRobinson P.A.; PricewaterhouseCoopers LLP; and CarrWorkplaces.
Stiles Property Management, the largest privately held commercial management provider in South Florida, has grown its management portfolio by more than ten percent in the last year to 17 million square feet of commercial properties. Some of its largest clients include Cornerstone Real Estate Advisers LLC, New Boston Fund, Inc. and Guggenheim Investments.
"These results are a direct reflection of the J.P. Morgan Asset Management and Stiles teams, both of which strive to ensure a superior working environment for our tenants," said Rotolo.
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, Fort Myers, Tampa and Orlando, Florida, and has a development office in Charlotte, North Carolina. Stiles is responsible for more than 43 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States.
About J.P. Morgan Asset Management — Global Real Assets
J.P. Morgan Asset Management — Global Real Assets has more than $88 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia Pacific, as of September 30, 2015. With a 45-year history of successful investing, J.P. Morgan Asset Management — Global Real Assets' broad capabilities provide many of the world's most sophisticated investors with a global platform of real estate, infrastructure and transportation strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions. The Global Real Assets team is part of J.P. Morgan Asset Management's Alternatives Investments business, which collectively manages over $120 billion in client assets across real assets, hedge funds, credit and private equity. For more information:jpmorgan.com/institutional/global_real_assets.
**For leasing information, please contact Stiles Realty at 954-627-9400