Coral Landings III is strategically located at the entrance of Coral Springs, on the intersection of State Road 7 and Sample Road. The surrounding neighborhood has more than 370,000 residents and is trafficked by nearly 100,000 cars per day.

“We think this particular intersection of Coral Springs has become the newest retail collection of major retailers as evidenced by the influx of national big-box retailers that have located within the surrounding area in the last 24 months,” Breslau says. “These include Lowe’s, Home Depot, Penn Dutch, Target, Toys “R” Us, Babies “R” Us and Winn Dixie.”

Breslau noted that Coral Landings III is a part of Stiles’ overall business strategy to actively develop and acquire retail centers and office buildings throughout Florida. This strategy also now includes purchasing notes on properties in order to gain ownership, as evidenced by the acquisition of this Coral Springs project. Stiles will use the full spectrum of its in-house services on the project, which will be constructed by Stiles Construction, leased by Stiles Realty, and managed when completed by Stiles Property Management. Financing was arranged by Stiles Financial services.

“Coral Landings III is proof that quality deals exist for the right investor who can not only get financing but also quickly execute a strong development and leasing strategy,” Breslau says. “A property like this one, that has incomplete development and construction issues, poses several challenges from which traditional investors might shy away.”