One Plantation Apartments and Retail Center Awarded NAIOP Project of the Year
Posted on 3/19/2015Stiles announced today that One Plantation Apartments as well as the Shops at One Planation were recently awarded Project of the Year during NAIOP South Florida's Awards of Excellence. Both projects were developed by Stiles, a full-service real estate provider based in Fort Lauderdale.
One Plantation is the first ever mixed-use multi-family and retail project to be recognized as Project of the Year by NAIOP South Florida, the Commercial Real Estate Development Association. One Planation is a LEED-certified 321-unit luxury apartment community. The Shops at One Planation, which sits adjacent to the apartments, is a 67,000-square foot retail center. The projects are located in the Midtown District in Plantation at 1650 SW 78th Avenue at the northwest corner of University Drive and I-595."
"We are extremely proud to have achieved this prestigious award," said Terry Stiles, Chairman and CEO. "The development of One Plantation Apartments and redevelopment of Shops at One Plantation took several years to get off the ground and to a final completion due to the most recent market downturn. This is a great example of perseverance and we are very pleased with the result."
After acquiring the land parcel and struggling retail center in 2005, Stiles endured a market recession and various plan revisions for the project. Recognizing the site's potential as a cornerstone location in the city's vision for an urban Midtown, Stiles was determined to find the right fit. The company ultimately recast the project to craft an environment of combined use between a luxury apartment community and vibrant retail center. The team incorporated a pedestrian walkway between the apartments and shops as well as abundant greenspace throughout.
One Plantation is the first ever LEED certified luxury apartment community in Broward County, and offers vehicle charging stations, reserved parking spaces for fuel-efficient vehicles and ample bicycle storage. According to Stiles, the apartment project leased up in just over nine months from substantial completion, at per square foot rental rates that were near the top of all competing projects in Broward County.
As Stiles completed the apartments, it renovated and rebranded the retail center as Shops at One Plantation, adding new variety and quality to the tenant base. As part of this, Stiles added numerous new key tenants, including World of Beer, Tijuana Flats, Xfinity, and Jason's Deli. The center is currently 94% occupied.
"This award is a direct reflection of Stiles' dedication to the asset," said Stiles. "The multi-family tenants appreciate the superior finishes and environmentally conscious design of the apartments while being steps away from great shopping, dining and entertainment."
One Planation Apartments was designed by Cohen Freedman Encinosa & Associates and constructed by Stiles Construction. On the redevelopment of the Shops at One Plantation, Stiles utilized its full suite of services, including Stiles Architectural Group as the designer, Stiles Realty and Stiles Property Management as the leasing and property management companies, and Hernandez Construction as the construction contractor.
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 40 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.