BMI Financial Group Refinances Miami's Town Center One Class A Office Tower

BMI Companies currently owns and occupies the top two floors of the building, which serves as its international headquarters. End Quote

Miami, FL (1888PressRelease) August 07, 2012 - Dadeland Parcel C LLC, owner of Town Center One office tower in Miami's Downtown Dadeland submarket, has signed an agreement with BMI Financial Group that will see the financial services firm refinance the 210,992 square foot, 24-story, class A office building. Dadeland Parcel C LLC will maintain ownership and management of the building and Blanca Commercial Real Estate will continue to spearhead sales and leasing efforts. BMI will acquire and extend the building's existing mortgage loan from Wells Fargo Bank.

Town Center One was developed by Dayco Group, one of Florida's premier developers of commercial, residential and mixed-use properties over the past 40 years. Since delivering to market in late 2009, the building has attracted a strong roster of tenants accounting for more than half of the building's total square footage. BMI Companies currently owns and occupies the top two floors of the building, which serves as its international headquarters. Other tenants include Clear Choice, Inca Investments and executive suites operator Anex Offices.

Approximately 98,000 square feet of space is still available for lease, including 52,000 square feet on three contiguous floors, ranking among the largest blocks of available class A space outside the Miami Central Business District.

"BMI Financial Group's decision to refinance the Town Center One loan is a big boost for one of Miami's best-positioned office properties," said Blanca Commercial Real Estate President and CEO Tere Blanca. "Corporate users are looking to Miami as a regional headquarters city and class A buildings with large blocks of contiguous office space are the most desirable assets in the market. Town Center One's urban setting, premium finishes, access to mass transit and proximity to executive and workforce housing give the building a competitive edge."

Town Center One is located adjacent to Downtown Dadeland and directly across the street from Dadeland Mall, within walking distance of two Marriott hotels that include a conference center. A Metrorail station, a Publix Supermarket, and numerous residential developments are also nearby. The building offers direct access to the Palmetto Expressway (SR 826) and U.S. 1.

Town Center One is directly off Kendall Drive at 8950 Southwest 74 Court in Miami. The building's floor plates measure 17,320 square feet of flexible space. An on-site parking garage offers an above-average parking ratio of 3.8 spaces per 1,000 rentable square feet. The building features a Delicias de España restaurant and market located on the tower's first floor as well as a curtain wall window system fabricated entirely of impact glass, affording tenants added protection and peace of mind during hurricane season.

For leasing information, please contact Tere Blanca, Danet Linares or Andres del Corral of Blanca Commercial Real Estate at (305) 577-8850. To learn more about Town Center One, please visit www.towncenterone.com.

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