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Monday, February 16, 2009

Stiles Realty Announces Four Las Olas Transactions, Café Europa Returning to Fort Lauderdale Restaurant/Retail District

FORT LAUDERDALE, FL - Stiles Realty today announced Café Europa and three other restaurant and retail tenants have leased or purchased space along Las Olas Boulevard.  In addition to Café Europa restaurant, which is reopening in a new location, the tenants are Palm Beach-based C. Orrico designer clothing boutique; Bova Smoke, an upscale cigar bar and lounge, and Pita Pit restaurant.

"We're seeing a steady flow of inquiries from businesses that understand the value of locating on Las Olas Boulevard," said Ryan Karlin, Stiles director of retail leasing.  "Recognizing the street's potential as major enhancements take shape, investment is continuing in this unique pedestrian-oriented marketplace."

Stiles Corporation's involvement along Las Olas Blvd. also includes providing development and construction services for the Las Olas Company's Boulevard enhancement project, including a variety of additions to the Riverside Hotel.

A longtime Las Olas landmark for Italian cuisine, outdoor dining and "people-watching," Café Europa is returning to the Boulevard.  The restaurant recently leased 3,329 square feet at 910 E. Las Olas Blvd., two blocks east of its prior location.  The restaurant had closed last July in connection with the expansion of the Riverside Hotel.  Café Europa owner Tony Cupelli said the restaurant expects to open this fall, offering indoor and outdoor dining.  Ryan Karlin, represented the landlord, The Las Olas Company, in the transaction.

Known for its signature pink-and-white bags, Palm Beach's C. Orrico has leased 2,511 square feet at 814 E. Las Olas Blvd., where its first Broward County location is now open.  Karlin represented The Las Olas Company in the transaction.  Located on the same block as Levinson Jewelers, the C. Orrico boutique offers clothing and accessories from Lilly Pulitzer and other designer lines.

Attorney Scott Rothstein, a partner in Bova Group restaurants, purchased a 7,060-square-foot, ground-floor space in the 350 Las Olas Place residential/retail building at 350 SE 2nd St.  Sun American Bank currently leases approximately half of that space for its Fort Lauderdale office, and the remaining 3,560 square feet are planned for Bova Smoke, a new cigar bar and lounge.  Irma Figueroa of Stiles Realty represented the landlord, Barkley LTD, and Norm Adams of Stiles Realty represented the buyer.

A few blocks west, Pita Pit restaurant leased 1,500 square feet at the mixed-use 200 Las Olas Circle, the new headquarters for AutoNation.  Figueroa represented building owner Brickell LTD in the transaction.  This will be the first Fort Lauderdale location for Pita Pit, which offers a selection of fresh pita sandwiches.  Restaurant Business recently ranked the parent company, Pita Pit Inc. as one of the fastest growing restaurant chains in the nation.

Stiles Realty is the commercial brokerage of Stiles Corporation, a full-service commercial real estate development and investment company that provides clients with premier development, design, construction, financing, realty and property management services.  Headquartered in Fort Lauderdale, the company has additional regional offices in Miami, Tampa, Ft. Myers, and Orlando, Florida.  Stiles is responsible for more than 37 million square feet of office, industrial, retail, and mixed-use residential projects throughout the southeastern United States.  For more information, please visit www.stiles.com.

 

 

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