$29M Spec Office Project Rising in Corporate Park

SUNRISE, FL-Construction has started on Lake Shore Plaza II, a speculative $29-million, 130,000-sf class A office building at 1300 Concord Terrace. The asset is rising in Sawgrass International Corporate Park.

The five-story project is a joint venture of Fort Lauderdale-based Stiles Corp. and WLD Enterprises. It is slated to be completed in the second quarter of 2008. “Demand for quality office space with direct access to South Florida’s transportation network remains strong,” says Stiles Corp. president Doug Eagon. “Sunrise’s corporate neighborhood is a proven draw and the upscale shopping and residential communities introduced nearby in recent months add to the site’s appeal.”

Stiles Realty Corp. president Thomas Kates tells GlobeSt.com that marketing efforts for the project have started, but none of the space has been leased yet. Stiles is hoping to attract regional offices for national and international companies and corporate headquarters.

The building will be located at the intersection of Interstate 75, Interstate 595 and the Sawgrass Expressway. It is within 15 minutes of the Fort Lauderdale/Hollywood International Airport and offers visibility from the expressway. Stiles division Architecture 6400 Inc. designed the building with Stiles Construction Co. serving as the general contractor. Leasing is being handled by Stiles Realty Co.

Stiles launched the 612-acre master-planned Sawgrass International Corporate Park in 1987. There are currently 21 buildings in the park that are 97% leased. Among tenants currently located at the park include Perfumania, Harley-Davidson, Pet Supermarket, Iron Mountain, McArthur Dairy, Nortel, Vista Health Care, Pediatrix, Marsh, Colonial Bank, GL Homes, Prudential WCI Realty and Interim Services.

“The current high levels of demand in the West Broward submarket coupled with its low vacancy rate were contributing factors to our starting a speculative building,” Kates says.