Stiles Wraps Up $2M Ft. Lauderdale Office Revamp
Posted on 5/16/2018
Stiles has completed the $2 million refurbishment and rebranding of a 287,043-square-foot office tower in downtown Fort Lauderdale, Fla. Formerly known as New River Center, the 21-story property is now dubbed 200 East Las Olas.
The 10-month makeover included modernizing the building's interior common areas and exterior facade. Located at 200 E. Las Olas Blvd., the Class A building is LEED Gold certified and now features an upgraded lobby and elevators, new furniture, enhanced interior lighting with drop-down chandeliers and touchscreen directories, as well as TVs throughout the lobby.
Stiles Tenant Project Management carried out the improvement program in a partnership with Architect Inaki Mugurza of Insight Design and MJ Simpson Construction. Stiles Property Management and Stiles Realty managed and leased 200 East Las Olas during the renovation process. According to Yardi Matrix, current owner PGIM Real Estate acquired the asset for $108 million in late 2014 from Invesco Real Estate. Stiles developed the building in 1989.
"The open, expansive lobby is transformed with new lighting, technology, millwork, sleek furniture and carpet accents that create a comfortable atmosphere for guests and tenants to meet and enjoy," said Mike Miller, vice president of Stiles Tenant Project Management, in prepared remarks.
The team of Senior Vice President Norm Adams and Senior Associate Danielle Story recently arranged a 2,270-square-foot lease at the property with CAE Parc Aviation Fort Lauderdale, a satellite office of Ireland-based CAE Parc Aviation and a new-to-market company in the aviation industry. Stiles Realty also brokered a seven-year lease with Woodforest National Bank in May 2017. Available spaces at 200 East Las Olas span from 21,000-square-foot full floors to suites ranging between 1,700 and 14,000 square feet.
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