DPMC's Miami Office Increases It's Portfolio

MIAMI- The year 2000 proves to be a great one for Divaris Property Management's Corp.'s Miami office with a management portfolio increase of 612,631 square feet. 

Midway Plaza, a shopping center located in Tamarac, Florida, is a recent addition to the DPMC managed portfolio. Owned by a publicly traded real estate investment trust (REIT) from New York City, Midway Plaza consists of 220,000 square feet of retail space. 

Other additions include: Atlantis Plaza II, a 180,000-square-foot shopping center located in Miami; Jupiter Farms, an 87,631 square foot shopping center located in Jupiter, Florida; Tampa Festival Centre, a 130,000-square-foot shopping center located in Tampa, Florida; and Dolphin Plaza, a 125,000-square-foot shopping center located in Miami. 

Dolphin Plaza was recently acquired by Urban America, an investment company from New York City that specializes in purchasing challenged properties. The owners plan to seek minority involvement in the renovation process. Currently, Divaris is negotiating the sale of a shopping center to Urban America in the greater Fort Lauderdale Area. Dolphin Plaza is the second property that is Divaris-managed for Urban America. 

In addition to the above properties, Divaris' Miami office continues to successfully manage Lakes Mall in Lauderdale Lakes, Florida and the Washington Mutual Bank Building in Miami.