Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Dadeland Office Park Owners Lands $14.1M Refi
The Green Companies secured a $14.1 million loan to refinance Dadeland West Office Park, a six-building office collection in Miami. The 111,018-square-foot property is 98% leased. CBRE’s Amy Julian and Andrew Chilgren represented The Green Companies in the transaction. Wells Fargo originated the loan.
Dadeland West Office Park has maintained a 97% average occupancy rate since the beginning of 2020. The Green Companies has executed $2.1 million in capital improvements since the beginning of 2019, including exterior improvements, lobby renovations, elevator modernizations, and high-quality tenant buildouts.
The property is in the Dadeland micro-market of Miami’s Kendall submarket, which has a vacancy rate of 6.7%. After 10+ years of consecutive growth, rents in Kendall have grown 47% since the start of 2013.
Four large retail centers are within a three-mile radius of the property. These outlets offer over 200 retailers and more than 70 food and beverage options within a five-minute drive.
- ◦Financing
