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Stiles Arranges Sale of 2 Buildings for $42.65M

MIAMI-An affiliate of Danac Corp. of Bethesda, MD bought a 30,000-sf Best Buy store in Fort Lauderdale for $8.05 million, and Cole Cos. of Phoenix bought the 220,000-sf Boulevard Square Shopping Center and retail outparcel in Pembroke Pines for $34.6 million.

By Melissa Bogdany | Updated on November 21, 2002

MIAMI-Stiles Corp. of Fort Lauderdale has arranged the sale of two buildings in South Florida for a total of $42.65 million. One is the 30,000-sf Best Buy store at 2829 N. Federal Highway in Fort Lauderdale. That building sold to an affiliate of Danac Corp. of Bethesda, MD for $8.05 million.

Cohen Financial represented the buyer. Stiles Capital Group, a division of Stiles Corp., represented the seller, a Stiles partnership, in this transaction. Several divisions of Stiles Corp. created the property this year for Best Buy. Best Buy’s 10-year lease began this fall.

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