Biotech Firm Inks $4 Million Lease
A Miramar biotech firm signed a $4 million lease to move its headquarters to Weston.
Bioresource Technology Inc. relocated in February, leaving its location in Miramar at 11924 Miramar Parkway after 14 years to occupy 26,000 square feet in the Weston Business Plaza at 1800 N. Commerce Parkway.
It was the biggest relocation for the 30-year-old firm, which started as a home-based business in Pembroke Pines and later occupied 1,500 square feet in Plantation, then doubled its space with a Miramar move before eventually occupying 20,000 square feet.
“It’s been a nice growth curve for us,” CEO Derik Reichenbach said.
Bioresource is part of an expanding targeted industry in Florida. It employs 20 scientists, quality-control personnel, technicians and support staff to supply purified cholesterol concentrates, human AB plasma and other products to the in vitro diagnostics market.
In the last decade biotechnology research institutes have been flourishing across Florida, thanks to state incentives to develop clusters of scientific firms providing high-wage jobs. The state has awarded more than $449 million in incentives to create research corridors in seven counties, including Miami-Dade and Palm Beach, according to Florida’s office of program policy analysis and government accountability.
For Bioresource Technology, an office outfitted to accommodate its growing business and work with frozen and delicate material drove its relocation planning. In a market where landlords are increasingly offering fewer concessions, a hefty tenant-improvement allowance from property owner Weston Business Plaza LLC helped seal the 10-year deal.
Weston Business agreed to cover half of the costs to customize the site with 3,500 square feet of freezer space, a 2,500-square-foot cooler and an ISO Class 8 clean room with air pressure controls and a filtration system to regulate particles and bacteria.
“Our buildout was probably more technical and expensive than most,” Reichenbach said. “The landlord’s contribution was quite significant, and that was one of the key factors in our decision to move there.”
Weston Business Center is represented by Tom Viscount of Butters Construction & Development Inc.
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