The company's appointment comes at the same time that amulti-million dollar renovation of the buildings is almostcompleted. The renovation includes a new building façade, hurricaneresistant windows, landscaping and parking improvements. EricGroffman, vice president of Transwestern, declined to give aspecific figure for the renovation's cost. The properties, whichwere built in the mid-1970s, are owned by the Keystone PropertyGroup, based in Bala Cynwyd, Pennsylvania.

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The three buildings at the Dadeland Office Park, named for theDadeland Mall which dominates the area, are about 70% leased, saysGroffman, who notes that they share the rest of the complex withtwo other buildings not owned by the Keystone Property Group. Theother buildings are known as the Dadeland Towers South.

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Groffman says that according to Transwestern research, in firstquarter 2010, the overall occupancy rate for A and B Classproperties in the 3.3-million-square-foot Kendall submarket was80.5%. Transwestern only includes buildings with 20,000 square feetor more in its data.

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According to Co-Star, the Kendall submarket had negativeabsorption of 85,635 square feet in first quarter 2010. The averagequoted rent for the area is $28 per square foot for Class A and Bproperties.Although the newly renovated Dadeland Office Park hasmany efficiencies, says Groffman, the three properties are notLEED-certified.

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