Stiles Corp. Outlines Plans for 275,000-SF Shopping Center

DAVIE, FL-Stiles Corp. is planning to develop a new, 275,000-sf community shopping center here to be called Lakeside Town Shops and anchored by a SuperTarget. The shopping center is be located at the northeast corner of Stirling Road and University Drive.Target’s 185,000-sf superstore will feature a full-service grocery store plus the retail store. Plans also call for the shopping center to include 65,000 sf of in-line retail space. Bays will start at 1,200 sf; the remaining 25,000 sf will go to outparcel users.Construction of the center is set to start in September and to be completed in fall 2005. According to Robert Breslau, president of Stiles Retail Group, this is expected to be the biggest new community shopping center under construction in Broward County this year.”I think that the super centers, whether it be a SuperTarget or a (Wal-Mart Super Center), they essentially drive the traffic,” says Gary M. Broidis, a principal and broker with Atlantic Commercial Group Inc. in the South Florida city of Boca Raton. “The appetite from consumers … is extremely strong for the super centers, so I think it can be very successful for the super centers.”Several divisions of Stiles Corp. are involved with project. Stiles Development is handling development management. Stiles Retail Group is involved in site identification, site acquisition, retail anchor negotiations and transactions, outparcel sales and leasing, and leasing other retail space. Architecture 6400 Inc. is designing the center. And Stiles Construction Co. is the general contractor doing initial site work for the center and building the Stiles-owned retail bays.”The area is potentially a little underserved as far as retail,” Broidis says. However, he adds that many retailers don’t want to be located near a super center such as Target or Wal-Mart. “There is a certain hesitancy on a lot of retailers’ part to be located in the immediate vicinity,” he says. “It depends on the retailers. There are certain retailers that (want) to stay as far away from these super centers” as they can. Many people go to super centers looking for a one-stop-shop and aren’t looking to go to a half dozen other stores, he says.Stiles currently has several retail projects under way in Florida, including the Sunrise-Publix and Harbor Shops, both in Fort Lauderdale. Stiles Corp., is responsible for more than 27 million sf of office, industrial and retail space in the southeastern US.