Stiles, a full-service commercial real estate firm with a 75-year history across the Southeast, announced the $45 million acquisition of approximately 93.1 net developable acres across six parcels at World Commerce Center in St. Johns County, Fla. The partnership — consisting of Stiles, Cantrell & Morgan and FCA Partners — will assume the existing Development of Regional Impact (DRI) and all project entitlements.
The acquisition includes Legends Landing, an approximate 40-acre, mixed-use retail development positioned along International Golf Parkway, as well as five additional parcels within the World Commerce Center DRI that collectively represent one of the largest entitled commercial land assemblages in northeast Florida.
“This acquisition represents a rare opportunity to control a fully entitled, large-scale development portfolio in one of Florida’s strongest growth markets,” said Jim Loftin, co-CEO at Cantrell & Morgan. “Entitled land of this s
