Marks the opening of the Park’s first phase; Building one is more than 60% leased.
Miami (September 22, 2011) —
Miami’s business, academic and civic leaders gathered on Tuesday, September 20 to celebrate the grand opening of the first phase at Wexford Science + Technology’s new University of Miami Life Science & Technology Park (UMLSTP) in Miami’s Health District. The Park’s first phase is a 252,000 square foot building housing wet and dry labs, offices, lab-ready development suites, and retail space – all intended to help knowledge-based research and product development teams foster innovation and commercialize technology for public use and benefit. The building is currently more than 60% leased.
“This is more than a building; this is a place where education, research and technology will intersect with discovery and innovation,” said University of Miami President Donna E. Shalala during remarks at the ceremony.
The UMLSTP’s growing tenant roster includes national and international companies, such as Ándago, a Spain-based information technology company; Raphael Capital Partners; Community Blood Centers of South Florida; medical device firm DayaMed; national intellectual property law firm Novak Druce + Quigg; the Enterprise Development Corporation of South Florida; Emunamedica LLC; the University of Miami Tissue Bank; clinical research facility Advanced Pharma CR; Heat Biologics, Inc.; Classic Air Charter; Kaleidoscope; DemeRx; Florida’s bioscience industry association BioFlorida; SunDevice; and the Miami-Dade Chamber of Commerce. Retail tenants include Balan’s restaurant, the UPS Store, and Quantum Fitness.
“We are thrilled to see our vision for the University of Miami Life Science & Technology Park realized as tenants begin moving in,” said Jim Berens, president of Wexford Science + Technology, the national real estate firm that developed phase one of the UMLSTP. “While Wexford has developed similar projects across the country, we are particularly enthusiastic about entering the Miami market.
The Park’s affiliation with the University of Miami, proximity to the hospitals and institutes in Miami’s Health District, and connectivity to Latin America and Europe give this project a leg up on other research sites.”
The UMLSTP master plan includes up to five buildings totaling roughly 1.6 to 2.0 million square feet of lab and office space, making it the largest facility of its kind in South Florida.
The Urban Land Institute’s South Florida/Caribbean Council recently awarded the UMLSTP its prestigious ‘Project of the Year’ award in recognition of the project’s architectural design, role as an economic catalyst, and efforts to emphasize sustainable land use and development. Pre-certified as a LEED Gold® (Leadership in Energy and Environmental Design) facility by the U.S. Green Building Council, the building has been designed to reduce energy use and improve environmental stewardship.
Phase one of the Park is projected to create more than 1,150 direct and indirect jobs, with an additional 2,700-plus direct and indirect positions created by ongoing operations, according to a recent study by the Washington Economics Group.
The building offers tenants a number of advanced information technology features, including cloud-based communications systems and direct connectivity with the Network Access Point (NAP) of the Americas data center in downtown Miami.
About the University of Miami Life Science & Technology Park
The University of Miami Life Science & Technology Park is a predominantly privately-funded endeavor developed by Wexford Miami, LLC, a subsidiary of Wexford Science & Technology, LLC, in association with the University of Miami. Located in Miami’s Health District and adjacent to the University of Miami Leonard M. Miller School of Medicine, the park is home to best-in-class research facilities that bridge academia and industry, thereby fostering collaboration and innovation that positively affects people around the world. Development of the park is also making a direct impact on the South Florida economy, resulting in the creation of jobs and further diversifying the region’s economic landscape. UM LSTP is located on an 8.8 acre site bounded by Interstate-95 on the east, NW 7th Avenue on the west, NW 17th Street on the south and NW 20th Street on the north. The Park’s first phase building at 1951 NW 7th Avenue in Miami is now open. Learn more at http://www.UMLSTP.com.
About Wexford Science & Technology, LLC
Wexford Science & Technology, LLC is a Maryland based, privately held real estate developer and investment company that specializes in the planning, development, construction and sophisticated financial structuring of complex research space for non-profit clients including universities, university affiliated research parks, and healthcare systems and corporations. Please visit http://www.wexfordequities.com for additional information.
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