{"id":1004051882,"date":"2011-10-07T06:28:53","date_gmt":"2011-10-07T14:28:53","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=20067"},"modified":"2022-12-05T20:28:37","modified_gmt":"2022-12-06T04:28:37","slug":"fund-snags-bofa-plaza-on-las-olas-for-164m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fund-snags-bofa-plaza-on-las-olas-for-164m\/","title":{"rendered":"Fund Snags BofA Plaza on Las Olas for $164M"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor<\/p>\n

The 23-story Bank of America Plaza at Las Olas City Centre in Fort Lauderdale is now part of a fund operated by JPMorgan Investment Management, 401 East Las Olas LLC. The trophy office building, currently 95 percent leased, traded for approximately $164 million. Besides numerous national retailers, the building houses world-class tenants such as Bank of America, Guarantee Insurance, Greenberg Traurig and UBS Financial Services.\u00a0Commercial real estate services firm HFF (Holliday Fenoglio Fowler L.P.) was charged with marketing the mixed-use project.<\/p>\n

Las Olas City Centre is located in the city\u2019s central business district, at 401 E. Las Olas\"\"<\/a> Blvd., offering nearly 365,000 square feet of premier office space and a 45,800-square-foot retail plaza. The 410,000-square-foot office building, developed by Stiles in 2002, includes a five-story 1,042-space parking garage and a pedestrian-friendly plaza with direct frontage on Las Olas Boulevard. The Energy Star-rated building has received several awards for its craftsmanship, rich finishes, quality architecture, spacious floorplates and expansive ocean views.<\/p>\n

Initially owned by Stiles in partnership with local investors, San Francisco-based real estate investment group Shorenstein Property acquired a majority interest in the partnership in 2005, though Stiles continued to handle both the leasing and management of the building; Stiles\u2019 subsidiaries\u2014Stiles Property Management and Stiles Realty Division\u2014will remain in charge of the management and leasing of the building on\u00a0 behalf of the new owner.<\/p>\n

For further details on the acquisition, check out Barbra Murray\u2019s coverage of the topic<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Georgiana Mihaila, Associate Editor
\nThe 23-story Bank of America Plaza at Las Olas City Centre in Fort Lauderdale is now part of a fund operated by JPMorgan Investment Management, 401 East Las Olas LLC. The trophy office building, currently 95 […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[],"class_list":["post-1004051882","post","type-post","status-publish","format-standard","hentry","category-miami","category-latest"],"acf":[],"yoast_head":"\nFund Snags BofA Plaza on Las Olas for $164M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fund-snags-bofa-plaza-on-las-olas-for-164m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fund Snags BofA Plaza on Las Olas for $164M\" \/>\n<meta property=\"og:description\" content=\"By Georgiana Mihaila, Associate Editor The 23-story Bank of America Plaza at Las Olas City Centre in Fort Lauderdale is now part of a fund operated by JPMorgan Investment Management, 401 East Las Olas LLC. 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