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| Dadeland Square, 7700 North Kendall Drive, Miami, FL |
MIAMI, FL – HFF announced today the closing of the sale and
concurrent financing of Dadeland Square, a mixed-use retail and office
center in Miami, Florida.
HFF marketed the property on behalf of The Green Companies,
a Miami-based real estate company. COFE
ZM Dadeland LLC purchased Dadeland Square and hired HFF to arrange financing
through JP Morgan Chase & Co.
Dadeland Square is located at 7700 North Kendall Drive in Miami,
Florida.
The property is situated
within the most densely-developed area south of Downtown Miami and is near the
Simon-owned Dadeland Mall. Dadeland
Square is a mixed-use retail and office center totaling 214,357 square feet
that is 95 percent leased and anchored by TJ Maxx, HomeGoods, Jo-Ann Fabric and
Craft and Guitar Center.
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| Daniel Finkle |
The HFF investment sales team representing the seller was
led by managing director Luis Castillo, senior managing director Danny
Finkle and director Ike Ojala.
“Dadeland Square was a highly sought-after opportunity and
reflects investors’ desire to acquire well-located assets backed by strong
retailer and office tenant performance,” Castillo said.
HFF’s debt placement team representing the buyer was led by
senior managing director Paul Stasaitis and senior analyst Nat Scarmazzi.
“The Dadeland Square asset, coupled with highly regarded
sponsorship, yielded outstanding finance terms and lender interest,” Stasaitis
added.
“Driven by strong residential
demand, the Dadeland submarket’s retail and office sectors only stand to
benefit further from already-impressive rental and occupancy levels.”
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| Luis Castillo |
HFF’s investment sales team secured more than $553 million
in sales of retail assets nationally during the first quarter of 2014. In Florida, HFF closed more than $134
million in retail transactions across all capital markets platforms during the
same period.
The Green Companies is one of Miami's oldest family-owned
firms, specializing in real estate development, acquisition, and property
management.
Since 1948, The Green
Companies have constructed thousands of homes, condominiums, rental apartments
and planned residential communities.
The firm is also responsible for more than two million square feet of
office and mixed-use development in South Florida
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |
www.hfflp.com
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