West Broward Office Complex Trades For $52 Million

May 23, 2013 No Comments by

Sawgrass Technology Park, Sunrise FLN/S Sawgrass Office Associates LLC, a company managed by Stiles Corp., sold Sawgrass Technology Park, located at 1601 NW 136th Ave. (N. Harrison Parkway) in Sunrise on Tuesday.

Fifteen Gap Sawgrass LLC, a company managed by Miami-based Fifteen Group, is the buyer. The company obtained a $40.84 million loan from Wells Fargo Bank N.A. for the acquisition.

In February 2012, Madelayne Garcia, Stiles Realty Director of Real Estate, inked a  long-term extension of the 116,000-square-foot Sheridan Healthcare lease in the park. Garcia received NAIOP’s prestigious Office Lease Transaction of the Year Award of Excellence for all of South Florida for that lease.

The Stiles-managed company paid $79 million in 2005 for the complex.

Fifteen Group is a real estate-focused private investment firm. Brothers Mark and Ian Sanders, founders and principals of Fifteen Group, grew up enthusiastic New York Yankee fans. Their favorite player was Thurman Munson, the team’s catcher and captain who was tragically killed in a plane crash in 1979. The Fifteen Group company name was inspired by Munson’s uniform number—15.

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Broward County Office, Industry News, NA, Office
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