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…
