Stiles Realty Leases 15,315 SF of Class 'A' Office Space on Las Olas Blvd. to Two National Firms
Posted on 6/10/2013Stiles Realty Director Norm Adams today announced that two national firms have signed new leases for premium office space fronting Las Olas Blvd. in downtown Fort Lauderdale. The companies have leased a total of 17,200 square feet of both headquarters and ground floor office space at two Class 'A' mixed-use buildings within this well-known business corridor.
Fanatics Mounted Memories, the memorabilia and collectibles division of online retailer Fanatics, has leased 15,295 square feet of headquarters space at the Plaza at Las Olas, where it will be relocating from Plantation, Fla. Founded in 1995, Fanatics is one of the largest online retailers of officially licensed sports merchandise. According to the company, Fanatics powers the e-commerce sites of all major professional sports leagues, including the NFL, MLB, NBA, NHL, NASCAR, PGA; major media brands, including ESPN, NBC Sports, CBS Sports, and FOX Sports; and hundreds of collegiate and professional team properties.
One Sotheby's International Realty, a luxury residential property brokerage firm in Miami and Fort Lauderdale, will lease 1,905 square feet of ground floor space at Las Olas City Centre. One Sotheby's is a privately held company with over one billion real estate listings. This will be the company's ninth location in South Florida. Stiles Director of Leasing Norm Adams represented building owners in both of these recent transactions.
"Thanks in part to increased consumer confidence, the office market is seeing tenČants take a flight to quality in premium locations," said Adams. "With first-class entertainment and business at its doorstep, Las Olas product has outperformed the overall Broward office market. Las Olas has experienced positive absorption, stable vacancy and inČcreased lease rates.
Stiles is responsible for leasing and property management for Plaza at Las Olas and Las Olas City Centre, which are located adjacent to each other on the north side of Las Olas Blvd. The 105,000 square-foot Plaza at Las Olas fronts a large brick paved fountain area, which is home to Vibe Lounge and YOLO restaurant. The 23-story 365,439-square-foot Las Olas City Centre is home to numerous professional firms, including Bank of America, UBS, Price Waterhouse, and Greenberg Traurig, as well as restaurant and retailers, including Grill 401 and Mancini's and Tease Hair Salon. With the Fanatics Inc. and One Sotheby's leases, these buildings enjoy the highest occupancy rates on Las Olas with 100 percent and 97.5 % leased respectively. Ground floor bank space and second floor office space totaling 14,899 square feet remain available at the adjacent Stiles headquarters building fronting Las Olas Blvd.
Adams noted that for Fanatics Mounted Memories and One Sotheby's, Las Olas' distinguished address and proximity to restaurants, shops and entertainment was a key factor. "Unlike other cities, Las Olas offers more than a place to work; it offers a lifestyle," said Adams. "In addition to the endless entertainment options, this is a destination with a reputation where business gets done in South Florida, and that continues to drive corporations and retailers to the area."
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 38 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States.
For leasing, please contact Norm Adams at 954-627-9400.