FORT LAUDERDALE, FL-300 Las Olas Place, a 102,246-square-footoffice tower in Downtown Fort Lauderdale, has sold forapproximately $30 million. The tower is 98% occupied.

Stiles sold its former headquarters to Franklin TempletonCompanies, a subsidiary of Rancho Cordova-based Franklin Resources,a global investment management organization known as FranklinTempleton Investments, acquired the property for approximately $30million. Stiles developed the class A 10-story building in 2000.It’s located one block north of Las Olas Blvd.

"As a committed long-term tenant of the Fort Lauderdale areamarket, we are pleased with the outcome of this transaction,” saysLes Kratter, senior vice president of Franklin Resources. “Since wewere already the occupant of most of the property, when it wasreleased on the market we conducted a financial analysis of a leaseversus purchase and decided that it makes sense both strategicallyand financially to acquire the asset as we remain committed to theFt. Lauderdale market.”