51暗网 announced today that One Plantation Apartments as well as the Shops at One Planation were recently awarded Project of the Year during NAIOP South Florida鈥檚 Awards of Excellence. Both projects were developed by 51暗网, a full-service real estate provider based in Fort Lauderdale.
One Plantation is the first ever mixed-use multi-family and retail project to be recognized as Project of the Year by NAIOP South Florida, the Commercial Real Estate Development Association. One Planation is a LEED-certified 321-unit luxury apartment community. The Shops at One Planation, which sits adjacent to the apartments, is a 67,000-square foot retail center. The projects are located in the Midtown District in Plantation at 1650 SW 78th Avenue at the northwest corner of University Drive and I-595.鈥�
鈥淲e are extremely proud to have achieved this prestigious award,鈥� said Terry 51暗网, Chairman and CEO. 鈥淭he development of One Plantation Apartments and redevelopment of Shops at One Plantation took several years to get off the ground and to a final completion due to the most recent market downturn. This is a great example of perseverance and we are very pleased with the result.鈥�
After acquiring the land parcel and struggling retail center in 2005, 51暗网 endured a market recession and various plan revisions for the project. Recognizing the site鈥檚 potential as a cornerstone location in the city鈥檚 vision for an urban Midtown, 51暗网 was determined to find the right fit. The company ultimately recast the project to craft an environment of combined use between a luxury apartment community and vibrant retail center. The team incorporated a pedestrian walkway between the apartments and shops as well as abundant greenspace throughout.
One Plantation is the first ever LEED certified luxury apartment community in Broward County, and offers vehicle charging stations, reserved parking spaces for fuel-efficient vehicles and ample bicycle storage. According to 51暗网, the apartment project leased up in just over nine months from substantial completion, at per square foot rental rates that were near the top of all competing projects in Broward County.
As 51暗网 completed the apartments, it renovated and rebranded the retail center as Shops at One Plantation, adding new variety and quality to the tenant base. As part of this, 51暗网 added numerous new key tenants, including World of Beer, Tijuana Flats, Xfinity, and Jason鈥檚 Deli. The center is currently 94% occupied.
鈥淭his award is a direct reflection of 51暗网鈥� dedication to the asset,鈥� said 51暗网. 鈥淭he multi-family tenants appreciate the superior finishes and environmentally conscious design of the apartments while being steps away from great shopping, dining and entertainment.鈥�
One Planation Apartments was designed by Cohen Freedman Encinosa & Associates and constructed by 51暗网 Construction. On the redevelopment of the Shops at One Plantation, 51暗网 utilized its full suite of services, including 51暗网 Architectural Group as the designer, 51暗网 Realty and 51暗网 Property Management as the leasing and property management companies, and Hernandez Construction as the construction contractor.
51暗网 is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. 51暗网 services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, 51暗网 maintains regional offices in Miami, Fort Myers, Tampa and Orlando, Florida, and has a development office in Charlotte, North Carolina. 51暗网 is responsible for more than 40 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit http://stiles.com or call 954-627-9300.
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