Keystone Property Group Acquires Office Portfolio in Metro Miami for $36M

KENDALL, FLA. — Keystone Property Group has purchased Dadeland Towers South, a portfolio comprising two office buildings totaling 228,136 square feet and an on-site, 246,319-square-foot parking garage located at 9400-9500 S. Dadeland Blvd. in the Kendall submarket of Miami. Avison Young’s John Crotty and Michael Fay represented Keystone in the $36 million acquisition. Keystone simultaneously completed a 102,000-square-foot lease with the seller, AvMed Inc., a Florida-based health insurance company, which will remain at the property long-term. For more than 10 years, Keystone has owned Dadeland Towers North, the three-building and parking garage portfolio that makes up the northern section of the office campus. With this acquisition, Keystone now owns the entire property, which was 89 percent leased at the time of sale.