Fort Lauderdale, Fla. – Stiles Property Management has been selected by Federal Realty Investment Trust (FRIT) and another group of Latin American investors to provide full property management services for seven new assignments in South Florida totaling 825,476 square feet. The new assignments comprise two portfolios. The FRIT portfolio consists of three large-scale retail properties comprising 677,769 square feet. Tower Shops, the largest of the portfolio, has an anchor tenant line-up that includes Ross, TJ Maxx, DSW, Michaels, Old Navy, Office Depot and Best Buy, as well as shadow-anchors Costco and Home Depot. Del Mar Village is a 179,241-square-foot shopping center located in Boca Raton. Tenants include Winn Dixie, Sweet Tomatoes and CVS, among others. The smallest of the portfolio is Courtyard Shops at Wellington, a 129,697-square-foot Publix-anchored shopping center located in Wellington.
The Latin American investment group, which owns each property under a separate entity, has a portfolio consisting of four retail properties and one office property totaling 147,707 square feet in various cities, including Sunrise, Tamarac, Coral Springs, Palm Springs and Doral.
— Scott Reid