[[{“value”:”
**Two South Florida Developers Acquire Apartment Sites Within Office Parks**
Stiles Corporation and ROVR Development have purchased properties located within the parking lots of existing office parks in the Miami area, continuing a growing trend of integrating residential units within office campuses. This strategy not only reduces commute times but also adds value and appeal to adjacent office space.
Stiles acquired a multifamily development site at Plantation Crossroads office park for $8.25 million. The site spans 22.3 acres and currently houses a 101,441-square-foot office building constructed in 1997. The company plans to develop 384 apartments across four buildings, each ranging from seven to eight stories. In addition, the project includes a 620-space parking garage. Apartment sizes are expected to range from 540 to 1,345 square feet.
Meanwhile, ROVR Development purchased a three-acre parcel located just south of the Doral Center office building at 8750 N.W. 36th Street for $6 million. The property, which contains 295,134 square feet of office space, is zoned to allow the construction of 330 apartments in two buildings.
These projects reflect a broader effort to revitalize and diversify office park environments throughout South Florida by adding residential options directly to business campuses.
“}]]
