Stiles awards Monarch Town Center Miramar to DAR

DAR Finish Specialties, Inc. has been awarded subcontract from Stiles to furnish and install doors, frames, door hardware, bathroom accessories, and postal specialties for Monarch Town Center in Mirarmar, FL

"A joint venture between Stiles Corp. and Ferber Co. has acquired a shopping center development site in Miramar, and obtained a construction loan.Monarch Towne Center, managed by Frank A. Ferraro in Stuart, sold the 22.5-acre site, near the northwest corner of Miramar Parkway and Flamingo Road, for $15.3 million to Miramar Investment Partners, a partnership between Fort Lauderdale-based Stiles and Ponte Vedre Beach-based Ferber.

Wells Fargo Bank provided a $38.33 million mortgage to the buyers.The project, dubbed Monarch Towne Centre, will have 169,000 square feet of leasable retail space. According to Stiles’ website, there are 125,000 square feet still available for lease, and the center will be anchored by a grocery store. The largest retail bay is about 48,000 square feet.About 52,500 vehicles pass the property on Miramar Parkway every day, according to Stiles.

By Brian Bandell – Senior Reporter, South Florida Business Journal"

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