Stiles, a Fort Lauderdale-based full-service commercial real estate development firm with offices throughout the Southeast, announced today the acquisition of a 19-acre land parcel located on the intersection of Military Trail and Woolbright Road in Palm Beach County. Stiles intends to build an 83,615-square-foot retail center comprised of six outparcels and a 46,811-square-foot Publix Super Markets store. In addition, 7-Eleven has leased approximately 1.7 acres for a 3,454-square-foot store at the hard corner of the intersection.
The retail center is a part of a master planned project totaling 36 acres that will also include a mix of uses from commercial workplace, such as self-storage and office flex space, to retail services and dining experiences. The other 17 acres slated for commercial workplace uses will be developed in conjunction with Stiles by Boynton Beach-based Mack Industrial Inc., which owns and operates flex office and industrial properties. Stiles and Mack Industrial Inc. purchased the land from the Blunt family of Palm Beach, who has owned the untouched acreage since 1960. Construction is expected to commence within the second quarter of 2020 and Publix is expected to open in 2021.
“This is a rare infill property at 36 acres that will allow both developers to work with the village to create a mixed-use center from a truly blank canvas that will bring value to the area and enhance the lifestyle of the local residents,” said Ryan Karlin, president of Stiles Retail Group. “We are proud to be a part of this exciting project and help execute a quality development for the community.”
Situated in a prime Palm Beach County location, the mixed-use center will be adjacent to the Village of Golf Community boasting a median home value of nearly $1 million as well as a new 28-acre residential development. Tying to the existing neighborhood, the center’s aesthetic will evoke the new Florida modern style, combining a Caribbean influence with linear shapes and contemporary features, such as shutters, clean landscaping, and canopies. The intersection of Woolbright Road and Military Trail averages nearly 60,000 cars per day and offers premium accessibility and exposure with a signalized full-access entry.
“This development will provide residents with an excellent mix of services and dining,” said Dan Coyle, senior vice president of Stiles Realty. “The long-established community surrounding the property combined with the local traffic counts and high-quality residential offerings has created a lot of demand for space in this area and makes it a prime location for a premium mixed-use shopping center.”
The commercial workplace portion of the property will consist of a variety of creative flex office and showroom space featuring open floor plans and exposed ducts, as well as single-user warehouse and self-storage space that will accommodate company vehicles and equipment.
“This is a unique opportunity to program a variety of flex, light industrial and warehouse uses adjacent to a brand-new Publix shopping center and surrounded by so many residential districts,” said Steve Mackey, managing partner of Mack industrial Inc. “We’ve designed a very high-end commercial commerce park to compliment the new retail center and collaborated with Stiles on design and architecture to ensure the final result is a sophisticated, customer- and business-friendly property.”
Coyle along with Christina Rennison will be marketing the property on behalf of Stiles. Call 954-627-9400 for leasing information.