Stiles Announces Leadership Changes in Florida and Carolinas

FORT LAUDERDALE, FL—Southeast real estate development firm Stiles Corp. has announced that Chief Operating Officer Steve Palmer will retire this Friday.

The company, which also has offices in Charlotte, NC, reports that Justin Siemens has been named president, Carolinas. Siemens is now responsible for sourcing, evaluating, and structuring new development and acquisition opportunities throughout the region, where the company is rapidly expanding its footprint in the Carolinas. The company first opened its Charlotte office in 2012.

Palmer, 63, is the second-longest serving executive in the history of Stiles, next to the late Terry Stiles. While relinquishing his day-to-day responsibilities to Ken Stiles, CEO, and Scott MacLaren, president, Palmer intends to remain active as an “ambassador” of the company. He will also continue to devote his time to local charities and professional associations, while also serving on the company’s Board of Directors, the company states in the announcement.

Company officials note that Palmer’s retirement is one of the remaining pieces of Stiles’ leadership succession plan put into place more than a decade ago that has involved the transition of Ken Stiles and MacLaren to primary leadership roles. Stiles and MacLaren will assume executive oversight of the operating companies consisting of construction, architecture, property management and realty.

As part of the succession plan, in 2016 Stiles implemented a conservative growth strategy across the Southeast. Today, Stiles has a growing footprint with offices and local leadership throughout Florida and the Carolinas as well as a record amount of development and construction in its pipeline.

Palmer notes that he began working at Stiles right out of college when the company had 10 employees. At 26, Terry Stiles asked him to lead Stiles’ construction division. At the age of 40, he became COO of all of Stiles’ operating companies.

“The opportunity to lead as a Stiles executive allowed me to mentor and empower each of our operating company presidents to take full ownership and run their businesses as if they were the owner,” Palmer says. “A lot of things have changed since those days, including the business itself, the services we offer, and the amazing team we have developed. I have been privileged to be part of a lot of growth and success, and I am finally at a point where I am ready for what’s next in life.”

He adds, “This is a good time for me to let go. The company is well positioned for growth over the next several years and each of the companies are led by extremely talented executives in their respective industries who require little support to thrive.”

In terms of its Siemens appointment at the firm’s Carolinas operations, Siemens most recently served as vice president and development officer and has been leading the company’s Carolinas team and operations for three years, traveling between Stiles’ Fort Lauderdale corporate headquarters and Charlotte offices.

With more aggressive growth goals set, the company has intensified its focus in the Carolinas and aims to build its brand and development pipeline to ensure a long-term connection to the region.

“An integral part of the Stiles team for more than five years, Justin is an effective and strategic leader whose strong business acumen has contributed to our regional growth,” says MacLaren. “Justin is well-respected by our Carolinas team and has established excellent rapport with our partners and clients in that region. Repositioning him to our Charlotte office full-time will allow him to better support our local Charlotte team and carry out Stiles’ long-term vision for growth in the Carolinas.”

Since opening the Charlotte office in 2012, Stiles has completed four grocery anchored shopping centers in the Charlotte neighborhoods of South End, Ballantyne, Mint Hill and Cotswold, as well as the Carolinian, a 186-unit luxury apartment community in Raleigh.

Projects currently under construction or in the planning stages include 300 West Summit, a 65,000 square foot boutique office building in Charlotte’s historic South End; Point Hope Commons, a 75,000 square foot grocery-anchored shopping center in Charleston, SC and a 70-acre grocery-anchored mixed-use development in Wake Forest, NC.

Siemens’ career spans more than 17 years in commercial real estate, having held acquisition and development-related positions with Federal Realty Investment Trust  and Compson Holding Corporation prior to joining Stiles. He also has a capital markets background having worked for BankAtlantic Commercial Mortgage Capital, Cohen Financial and Holliday Fenoglio Fowler.