Western National Life has retained Stiles to lease and manage 800 Fairway Drive in Deerfield Beach and the Commercial Place I & II buildings at 3230-3250 West Commercial Boulevard, Fort Lauderdale. Lender Western National Life recently took title to the two office complexes from the previous owners.
According to Stiles Realty Director of Real Estate Madelayne Garcia. “Western National Life is gearing up to draw top corporate space users to Broward County, with two properties that are the most upscale buildings in their respective submarkets,” she said. “Based on today’s realities, the economics of a property that was financed in the past five years may no longer work for a building owner. After a take-back, though, a well capitalized owner such as Western National Life can offer tenants exceptional value and stability,” she added.
Stiles has opened a leasing and property management office at the 173,241-square-foot, atrium-style 800 Fairway Drive. Garcia said the four-story building will undergo significant exterior, atrium and landscape improvements beginning immediately, for completion this year.
“With its 45,000-square-foot floorplates, I-95 access, four-story atrium lobby, on-site café, fitness center and golf course views, the 800 Fairway Drive building has long been a ‘must-see’ for corporations seeking regional and corporate headquarters space in the North Broward submarket or the costlier neighboring Boca Raton area,” Garcia said. “The economy is dictating highly competitive rates – and Western National Life’s investment in enhancements for the building makes timing ideal for corporations with large space needs.” The building’s roster of current regional, national and international tenants includes Pepsico, Lincoln Life & Annuity, CH2M HILL and Jacobs Engineering.
Stiles will also open an on-site property management office at the 173,768-square-foot Commercial Place I & II complex. The tenant roster includes Progressive Insurance, Florida Blue (Blue Cross Blue Shield of Florida), Cisco and Travelers.
The Western National Life contracts are the latest third-party engagements for Stiles, which began focusing on growth of its third-party business four years ago. Stiles now handles regional leasing and management portfolios for property owners including Wells Fargo and Prudential.
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