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Sunrise Harbor Community Sells for $90.6M

FORT LAUDERDALE-Local developer Stiles-Ellis Ltd. sold the two-year-old, mixed-use complex with 352 apartment units and 7,000 sf of retail space to Lend Lease Real Estate Investments of Atlanta.

By Melissa Bogdany | Updated on November 20, 2002

FORT LAUDERDALE-Sunrise Harbor, a two-year-old, award-winning, mixed-use complex here has been sold for $90.6 million. Local developer/owner Stiles-Ellis Ltd., a Stiles Corp. partnership, sold the property, which was completed in summer 2000, to Lend Lease Real Estate Investments of Atlanta.

Sunrise Harbor consists of twin 16-story buildings containing 352 luxury apartments with 16 guest suites and five-star amenities that have views of the Intracoastal Waterway, the Atlantic Ocean and the community’s harbor. Amenities also include a 22-slip, mega-yacht marina. With 2,500 linear feet of docks, it is one of a few marinas in South Florida designed to accommodate yachts up to 160-ft long.

The property also has 7,000 sf of fully leased retail space. Tenants include Christensen Yachts; Mind, Body and Baby; Casbah Spa; and Euro Bread. In all, Sunrise Harbor, located at 1030 Seminole Dr., was more than 90% leased at the time of the sale. The property has consistently held similar occupancy levels since opening.

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