MIAMI – The Florida Real Estate Journal reported that Jones Lang LaSalle has been named as exclusive leasing agent for phase one of the University of Miami’s Life Science & Technology Park in Miami. Upon completion in mid-2011, the 252,000sf building will be a research and development facility housing wet and dry labs, offices, lab-ready development suites and retail space. The Miami-based Jones Lang LaSalle team including Catarina Jimenez, Gavin Macphail and Richard Schuchts will lead leasing and marketing efforts on behalf of real estate development and investment firm Wexford Science + Technology, LLC.
“In marketing the University of Miami Life Science & Technology Park to prospective tenants around the world, we will be providing the unique opportunity for new tenants to partner with the university and advance the development and commercialization of new scientific discoveries,” said Richard Schuchts, senior vice president at Jones Lang LaSalle. “The innovative research that will unfold at the UM LSTP – along with the important work already underway at the University of Miami’s Miller School of Medicine and its College of Engineering – will help elevate Miami’s status as a global hub for the life science and technology sectors.”
The current UM LSTP master plan includes five buildings totaling approximately 1.6 msf to 2 msf of lab and office space, making it the largest facility of its kind in South Florida. The phase one building has been designed to adhere to sustainable criteria set by U.S. Green Building Council and has been pre-certified as a LEED Gold facility. Additionally, the design will focus on the pedestrian experience and include indoor/outdoor community spaces and street-level retail that will serve local Miami Health District residents and neighborhoods.
In June 2010, the UM LSTP announced the completion of its first major tenant lease: the University of Miami’s decision to occupy 80,000sf of space in the first building. The university’s space will include office and lab facilities for several disciplines, including the UM Tissue Bank, which will occupy approximately 50,000 square feet of the space. Daya Medicals, Inc., an out-of-market company, has also signed a lease for 15,000sf.
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