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.

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.

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.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.