(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-Town Center One, a 210,000-sf class A office condo building, located on North Kendall Drive in the new Downtown Dadeland area, has topped off. The building is 52% sold and is on track for completion by May 2009, according to developer Dayco. Luis Lumar, president of the development company, says the estimated sell-out of the project is $100 million.

"The Dadeland area's appeal has been a major selling point at Town Center One," says Doris Myers, project manager. "Many areas of Miami-Dade are on the way to becoming what we already are—a true urban sub-market with every conceivable amenity, from mass transit (direct access to Metrorail), to shopping (across the street from Dadeland Mall) to multiple residential options ([1200] new units within strolling distance of Town Center One), all within a beautiful, walkable environment."

The 24-story building will be anchored by BMI Cos., which has purchased two floors of space totaling 35,000 sf to relocate its world headquarters. Other owners include small business owners that live in the Dadeland area and a local private investor that has purchased a 17,370-sf floor to open for lease.