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    Joint Development Project

    Dadeland South Metrorail Station

    Station Location: on US 1 between Dadeland Boulevard and Palmetto Expressway Overpass
    Projects:
    Datran Center I and II (Phases 1 & 3)
    9100 and 9130 So. Dadeland Boulevard  
    Two Class A office buildings, 476,412 rentable square feet
    35,000 sq. ft. of retail space
    3,500 parking spaces, 1,100 designated for MDT patron usage

    Miami Marriott Dadeland Hotel and Conference Center (Phase 2)
    302 Luxury hotel rooms

    Dadeland Centre I (Phase 4A)
    18-story Class A office building (8 floors offices, 9 floors parking)
    152,014 square feet

    Dadeland Centre II (Phase 4B)
    15-story Class A office building (8 floors offices, 6 floors parking)
    119,516 square feet; ground floor retail
    Construction started in 2005, completed in 2007
    Tenants:
    Crescent Real Estate Equities Limited Partnership (Phases 1 and 3), M.D.M. Hotel Group, Ltd. (Phase 2), Dadeland Centre Ltd. (Phase 4A), and Dadeland Centre II, Ltd. (Phase 4B).
    How Initiated:
    1982 land swap of real property owned by Green Datran Center, Ltd. to County in exchange for development rights on and above station site and related areas.
    Status:
    Phase 1, 2, and 3 have been in operation since 1984, Phase 4A since 2005, and Phase 4B since January 2008.
    Financial:
    Miami-Dade Transit (MDT) receives a significant guaranteed annual rent or participation rent (percentage of total gross income) generated from all uses.  The project generates over one million dollars annually for MDT.
    Term:
    Lease commenced July 1982; initial term to December 2038; automatic 44-year renewal to December 2082.

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