Stiles Corp. of Fort Lauderdale purchased 23 acres of land here for approximately $11.6 million. The property is located on Yamato Road.
While Stiles did not say what plans it has for the land, Boca Technology Center LLC sold the rights to Stiles to develop 600,000 sf of office space, Jeff Kelly, senior vice president with the Palm Beach County office of CB Richard Ellis, tells GlobeSt.com. And Stiles plans to build on it, according to Steve O'Hara, vice president with that office and a broker involved in the transaction.
Boca Technology Center LLC also just sold 7.5 acres to Principle Properties of Boca Raton for approximately $4 million. Principle Properties plans to build 50,000 sf of retail space along Yamato Road, Kelly says.
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