Stiles, a Fort Lauderdale-based full-service real estate development firm, announced today the completion of The Enclave Shops at Coral Ridge, a 27,300-square-foot retail shopping center located at the entrance of Coral Ridge’s newest single-family home community.
The center features The Fresh Market, which occupies 21,000 square feet, along with inline retail shops and a bank outparcel. Stiles developed the project in a joint venture agreement with a group of local businessmen headed by Phil Smith.
Stiles is currently leasing and managing the property.
Following The Fresh Market’s recent grand opening, Posh Nails is slated to open in Q3 while a new restaurant is set to open by the end of 2016. In addition, SunTrust Bank has ground-leased the outparcel and is planned to open in Q1.
Located at 3250 North Federal Highway, The Enclave Shops at Coral Ridge further augments the area’s newest single-family residential community, The Enclave at Coral Ridge Country Club. The community is being developed in partnership by Stiles and Phil Smith and is currently selling lots.
“As the developer of both The Enclave residential community and shopping center, we had an opportunity to create a synergy between the two properties while bringing exciting shopping and dining options to the residents of Coral Ridge,” said Chief Development Officer Bob Breslau.
According to Stiles Vice President of Realty, Mike Carpenter, who is responsible for leasing the center, the shops have been experiencing significant interest from high quality local tenants due to its lead anchor The Fresh Market. Only two bays remain available.
“The center benefits from a high quality lead anchor as well as an excellent location in the affluent neighborhood of Coral Ridge, not to mention its direct frontage on US1,” said Carpenter. “In addition to the leases we have already secured, we are in active discussions for the last two bays with multiple users, including high-end hair salons, eco-friendly dry clean drop stores and jewelry stores.”
The Enclave Shops at Coral Ridge is located within close proximity to Oakland Park Boulevard in one of East Fort Lauderdale’s most visible retail corridors trafficked by more than 50,000 cars per day. The property is within minutes of Fort Lauderdale beach and downtown dining, entertainment and nightlife. The property is easily accessible from all major highways and within a ten-minute drive of Fort Lauderdale/Hollywood International Airport and Port Everglades.
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