FOR IMMEDIATE RELEASE

Stiles’ First Retail Center in Charleston, S.C. Sells for $29M

**Newly developed Publix-anchored center was 92% leased at time of sale

Charleston, S.C. and Fort Lauderdale, Fla. – December 16, 2021 – Stiles announced today that it has
closed the $29 million sale of Point Hope Commons, a 75,000-square foot Publix-anchored
neighborhood shopping center in Charleston, South Carolina. The property was purchased in a private
transaction.
Located at Clements Road and Point Hope Parkway, Point Hope Commons was developed by Stiles in
2019 and serves as the primary retail center for Cainhoy, a new mixed-use community whose current
development plans call for up to 9,000 single-family homes and over 500 acres of retail, restaurants,
multifamily and office projects. The property is under development by a combination of Guggenheim
corporate and family interests and being managed by the Daniel Island Development Company.
Point Hope Commons is highly visible with direct frontage along Clements Ferry Road and daily traffic
counts exceeding 30,000 cars per day. It is currently 92% leased with an array of quality tenants,
including Roper St. Francis Healthcare, Heartland Dental and Cainhoy Veterinary Hospital, in addition to
Publix Supermarket.
“Point Hope Commons is our first project in South Carolina and the greater Charleston market, where
we are looking to significantly ramp-up our development activity,” said Justin Siemens, President of
Stiles Carolinas. “We are fortunate to have had the opportunity to work with Daniel Island Company to
help drive growth along Clements Ferry Road and activate the gateway to the larger Cainhoy
development.”
Since opening a regional office in Charlotte in 2012, Stiles has been rapidly expanding its brand
throughout the Carolinas and beyond with new retail, office and residential developments. In addition
to Point Hope Commons, Stiles has completed four retail shopping centers in Charlotte totaling 244,000
square feet. Stiles is also underway with Greenly Pointe, a 15-acre mixed-use development at the
entrance of University Research Park off West Mallard Creek Church Road in Charlotte, and Grove
Ninety-Eight, a 70-acre mixed-use development in Wake Forest planned for 200,000-square feet of
commercial, 232 apartments and 400 “for sale” residential units.
In addition, Stiles is currently underway with two projects in Charlotte’s South End submarket: 110 East,
a planned 23-story office tower immediately adjacent to the East/West Station light rail stop; and
Camden Exchange, a 291-unit, ultra-luxury multifamily/mixed-use tower located at the SW corner of
Camden Rd. and W. Park Ave. that includes 9,500 square feet of retail and restaurant space and
approximately 10,000 square feet of office.

About Stiles
Established in 1951, Stiles is a full-service real estate development firm with a clear mission: Invest. Build.
Manage. Stiles services include development, construction, tenant improvement, realty, property
management, architecture, acquisitions and financing. The company is responsible for more than 50
million square feet of office, residential, industrial, retail and mixed-use projects throughout the
southeastern United States. Stiles is headquartered in Fort Lauderdale and maintains offices throughout
Florida and in Charlotte, North Carolina. Learn more about Stiles at www.stiles.com.
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Media Contacts
Stiles: Adrienne Zalkind, adrienne.zalkind@stiles.com, 954-627-9148; Brant Long,
brant.long@stiles.com, 954-627-9102