Stiles Realty Executes $6.6M Sale of Former Sports Authority
Posted on 12/6/2016Fort Lauderdale-based Stiles Realty announced today that Senior Vice President Dan Coyle and Vice President Brian Batchelder recently represented the purchaser in the $6,650,000 sale of a 42,602-square-foot former Sports Authority.
Coyle and Batchelder negotiated the purchase on behalf of Finance and Acquisitions, LLC. The big box retail store is located at 20851 State Road 7 in Boca Raton, FL. Bob Fraser of Net Lease Properties represented the seller, Baker Boca, LLC.
"This transaction demonstrates the continued strength of the South Florida retail market, particularly in the arena of "value add" property," said Coyle. "We worked through several challenges related to the property and provided our client with detailed projections based on the market and user interest. We were successful at managing expectations, address concerns, and close the transaction in a timely manner."
Founded in 2015, Finance and Acquisitions, LLC is a subsidiary of North Miami property management company IMC Equity Group and currently operates different real estate properties.
"Stiles Realty has the unique opportunity to provide third party clients the benefit of our company's wealth of transaction experience and long standing relationships throughout the South Florida market," said Batchelder. "This added value, along with our unapparelled level of service, allows us to provide our clients with the best market information and insight available, leading to the most informed investment decisions."
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. For more information, please visit http://www.stiles.com or call 954-627-9300.