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The purchase of Concourse Center brings Dilweg's Florida office holdings to nearly 1.2 million square feet and its Southeast office holdings to nearly 6.5 million square feet.
In the past decade, Homestead, a potential key distribution point for both Southern Miami-Dade County and the Florida Keys, has seen virtually no new industrial construction.
The area has been home to a good amount of new development and property revitalization in recent years, along with a Trammell Crow multifamily project and the headquarters of Airbnb, Zynga and Pinterest.
State Assemblywoman Eliana Pintor Marin, who chairs the budget committee, said, “There are good opportunities in the new programs, but to allow Grow NJ and ERG to expire would be a mistake.”
Five Star development has surpassed $215 million in sales with its The Ritz-Carlton Residences, Paradise Valley, which offers 39 for-sale estate homes.
Macy's Herald Square is considering adding offices to its store but two Greenspoon Marder real estate attorneys point out some of the challenges the building owner could face.
The lease expansion marks the second time that Kaufman Dolowich Voluck has expanded its footprint at the three-building, 335,000-square-foot Court Plaza office complex over the past 10 years.
The refinancing deal was announced by PGIM Real Estate Finance, which provided a $164-million Fannie Mae loan to Lowell-based Princeton Properties Management.