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Stiles | Fresh Market Fort Lauderdale

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Stiles sells Fresh Market-anchored shops for $18M

Fresh Market, Spatch and Peri-Peri Grilled Chicken, and SunTrust are tenants

Enclave Shops at Coral Ridge and CIO at Stiles Rocco Ferrera

Stiles Corp. just sold its recently completed shopping center in Fort Lauderdale for $17.9 million to a South Florida investor, property records show.

Stiles sold the 35,725-square-foot property at 3860 and 3800-3848 North Federal Highway to EEP Enterprises, a company led by Eduardo Pelaez, co-owner of Weston-based FGI Realty. The Enclave Shops at Coral Ridge sold for about $500 per square foot.

It’s leased to The Fresh Market, a high-end grocery store, Spatch and Peri-Peri Grilled Chicken, and SunTrust Bank, which leases the 3,628-square-foot branch building at 3860 North Federal Highway.

Stiles paid about $6.3 million for the 3.6-acre development site in 2015 and completed the retail center in 2017, according to property records.

The Fort Lauderdale-based developer built the project as part of a joint venture with a group of investors led by the late auto dealer magnate Phil Smith. They also build the nearby 36-lot single-family residential community, The Enclave at Coral Ridge Country Club.

The two developments sit adjacent to the private Coral Ridge Country Club.

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