Thank you for sharing!

Your article was successfully shared with the contacts you provided.

For more retail coverage, click GlobeSt.com/RETAIL.

WILTON MANORS, FL-Poverello Center, a nonprofit food bank and thrift store, renewed its lease for 15,7000 sf at Shoppes at Wilton Manors, the 73,349-sf, two-building retail center at the intersection of Wilton Drive and NE Sixth Avenue. With this five-year renewal, Shoppes at Wilton Manors is 100% leased.

Poverello Center, which has been in operation for more than 20 years, sells new and used items donated by the community and serves up to 6,000 men, women and children living with HIV/AIDS. Tom Smith, CFO, says the center chose to stay at this location “because Wilton Manors is a generous community and continues to be instrumental in keeping the store extremely busy and successful.” It operates with eight employees and approximately 70 volunteers.

Ryan Karlin of Fort Lauderdale-based Stiles Retail Group represented the owner, Stiles BLP, a Stiles partnership, in the transaction. Terms of the lease were undisclosed. According to a South Florida 2005 retail report from the area office of CB Richard Ellis, the average asking retail rental rate in this area of Broward County was $16.26 per sf at year-end 2004 and rising rapidly. Newly constructed shopping centers in Broward are commanding rates of between $20 per sf and more than $30 per sf.

Stiles acquired Shoppes at Wilton Manors in August 2004 for $10.4 million. Since then Mainstream Gym inked a lease for 13,369 sf. Other tenants are a mix of neighborhood restaurants and shops in a pedestrian-friendly environment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.