Sawgrass Office Park Changes Hands

Written by on May 28, 2013 in Done Deals, News - No comments

N/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.

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