Press Release brought to you by Keystone Property Group

Keystone Property Group Signs Two Leases at Premier Dadeland Office Park in Miami, Fla.

12/08/2011

Keystone Property Group Signs Two Leases at Premier Dadeland Office Park in Miami, Fla.

Keystone Property Group, a leading real estate developer, manager and investor of office and industrial properties, today announced that it has signed two leases at Dadeland Office Park, its 248,000-square-foot, three-building office asset located in Miami, Fla.

The transactions include:

  • Independent Purchasing Cooperative, an independent SUBWAY franchisee-owned and operated purchasing cooperative, signed a two-year extension and expansion deal totaling 7,783 square feet. Transwestern represented Keystone, while Cassidy Turley represented the tenant.
  • WNC Insurance signed a new seven-year lease for 5,433 square feet. Transwestern represented Keystone and Colliers International represented the tenant.

Additionally, Keystone recently closed with U.S. Bank on a loan modification that extends the maturity date of its existing loan and provides funding for future leasing costs at the property.

“Dadeland Office Park is an exceptional business location with high-quality amenities,” said Randolph Johnson, Regional Director of Keystone Property Group. “Recent improvements Keystone has made to the property have attracted a marquis tenant base that we anticipate will continue to grow into the future.” Earlier this year, Keystone hired industry veteran Johnson to lead the firm’s expanding Southeast division and oversee all leasing, property management and capital improvement activities for that portfolio, among other responsibilities.

Keystone Property Group acquired Dadeland Office Park in 2008 and subsequently invested more than $5 million in improvements such as the modernization of lobbies and corridors, new restroom finishes and upgrading the storefront glass and curtain wall to energy-efficient hurricane-resistant standards. These improvements also include upgrades in the mechanical systems and improved landscaping.

Located near the Palmetto Expressway and US Highway 1, the complex is just six miles south of downtown Miami. Amenities include on-site management, deli, free and valet visitor parking and close proximity to the Dadeland Mall and the Metrorail Station. Other tenants in the complex include International Purchasing Corporation, City College, FEMBI, Quintairos, Prieto, Wood & Boyer and a Subway restaurant.

About Keystone Property Group

Keystone Property Group is a leading real estate investor and developer, with offices located in Bala Cynwyd, Pa.; Chicago, Ill.; Miami, Fla.; and New York, NY. Keystone also sponsors and manages a series of opportunistic real estate investment funds. Keystone creates value for its investors through development, redevelopment, financing, leasing, property management and asset management. The company has been recognized by Inc. 500 magazine, the Entrepreneurs’ Forum and the Wharton Small Business Center, and several of its projects have earned “Best Real Estate Awards” from the Philadelphia Business Journal and BOMA (Chicago). For more information, please visit www.keystonepropertygroup.com.

12/09/2011 - 01:09

Source

Keystone Property Group

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