Set in the small town of Mirimar, Park View Square is located on the northeast corner of Miramar Parkway and Southwest 172nd Ave. The center's owner is Park View Square Ltd., a Stiles partnership.
In one of the two deals, which combined total 9,150 sf, Blockbuster Inc. leased 5,950 sf for five years. Blockbuster, a video and game rental store, is paying in the low $20s per sf, giving this lease an estimated value of $654,500. The company, a publicly traded subsidiary of Viacom Inc., has more than 8,000 stores worldwide.
Separately, Winn-Dixie Liquor Store leased 3,200 sf for ten years at an undisclosed rate. The store is adjacent to the center's anchor, the 44,000-sf Winn-Dixie Supermarket, which has a 20-year lease. Based in Jacksonville, FL, 78-year-old Winn-Dixie Stores Inc. operates more than 1,070 supermarkets in 12 states and the Bahamas.
Stiles leasing representative Michael Friedman brokered both transactions. RAM Real Estate co-brokered the Blockbuster deal.
Construction of Park View Square began in June 2002, and completion is scheduled for this summer. Architecture 6400 Inc., a division of Stiles, designed the center; Stiles Construction Co. is the general contractor; and Stiles Retail Group is leasing the center, which is 87% filled.
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