Stiles and Levine Properties Form Strategic Alliance to Develop Real Estate in the Carolinas

Oct 09, 2012

-Publix-anchored shopping center planned as first JV project in the region

Fort Lauderdale, Fla. and Charlotte, N.C. – October 8, 2012 – Stiles, a full-service Florida commercial real estate firm, and Charlotte, N.C.-based Levine Properties announced today that they have entered into a strategic alliance to develop real estate in the Carolinas. With this joint venture, the two groups are executing plans to develop commercial and residential properties with a primary focus on grocery-anchored centers.

“Levine Properties is an established developer with the local knowledge and experience that is so critical to the success of our development strategy in these regions,” said Stiles Chief Executive Officer Terry Stiles. “We are excited about the potential opportunities that exist in North Carolina, especially in the retail, office and multi-family segments.”

According to Stiles Real Estate Investment Services President Robert Breslau, Stiles and Levine are pursuing each of these market segments, have several joint projects in the planning stages and are actively acquiring other properties for future development in the Charlotte market.

The first of such projects is Ballantyne Town Center, a Publix-anchored shopping center located at Providence Rd. West and Johnston Rd. in the Ballantyne community. Scheduled to open in early 2014, this project marks Publix’s entry into the greater Charlotte area. Stiles and Levine formed a partnership with Harris Land Company, the property’s owner, for the development of Ballantyne Town Center.

“Through our partnership with Daniel Levine and Levine Properties, which is one of the most respected developers in Charlotte, as well as our long-standing relationship with Publix, we look forward to building a strong presence in North Carolina as the grocery giant continues its expansion in there,” said Breslau.

“We are delighted to enter this partnership with Stiles. Terry Stiles and his team bring a wealth of experience in Publix-anchored shopping centers. The combination of Levine Properties and Stiles will be hard to beat in North Carolina,” said Daniel Levine, Levine Properties President.

About Stiles
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 37 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.

About Levine Properties
Levine Properties is an equity-based commercial real estate firm dedicated to creating long term quality real estate assets. Levine Properties is a vertically integrated company executing land and building development, acquisition and disposition services, asset management, property management and leasing. Located in Charlotte, North Carolina, Levine specializes in multi-generational investments in the office, retail, industrial, multifamily and build-to-suit assignments. For more information, please call Daniel Levine 704 366-1981.

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