The Green Companies recently secured a $14.1 million loan to refinance Dadeland West Office Park, a collection of six office buildings in Miami. The property, which spans 111,018 square feet and boasts an impressive occupancy rate of 98%, was represented by CBRE’s Amy Julian and Andrew Chilgren in the transaction. Wells Fargo provided the financing for this deal.
Since the beginning of 2020, Dadeland West Office Park has maintained an average occupancy rate of 97%. This is due in part to The Green Companies’ investment of $2.1 million towards capital improvements since early 2019. These upgrades include exterior enhancements, lobby renovations, elevator modernizations, and high-quality tenant buildouts.
Located within Miami’s Kendall submarket in the popular Dadeland micro-market area with a vacancy rate currently at just 6.7%, this property is well-positioned for success. Rents have seen steady growth over the past decade with an increase of nearly half (47%) since January 2013.
Within three miles from Dadeland West Office Park are four large retail centers offering over two hundred retailers as well as more than seventy food and beverage options within just five minutes driving distance – making it highly desirable for tenants seeking convenience and amenities nearby.
This article was originally published on Connect CRE .
