Research Park At Florida Atlantic University Announces Several New Transactions Totaling More Than 50,000 SF

Banyan Development and PEBB Enterprises completed numerous new leases and a sale transaction at the Research Park at Florida Atlantic University, a premier hub for technology, innovation, and entrepreneurship in South Florida. The companies have a long-term ground leasehold interest in the Park’s office buildings.

After approval of the proposed use of Malema Engineering Corporation by the Research Park’s governing authority, the partnership just closed the disposition of building IC7, with Malema Engineering Corp. purchasing the 26,056-square-foot building for $7.2 million on August 6. LRM CREA LLC represented the seller, while Cushman & Wakefield of Florida represented the buyer. Malema proposes to work closely with the Florida Atlantic’s College of Engineering in the areas of materials and corrosion for applications in the semiconductor and biopharma industries.

Other new tenants are also joining the Research Park, having secured approvals from the governing authority. These include JRM Construction Management Florida LLC, which leased 12,288 square feet in Building IC6, introducing 30 jobs to the park.

South Florida Hand & Ortho also secured 11,088 square feet across two spaces in Building IC2.

“The Research Park at FAU continues to attract substantial activity from a wide variety of tenants,” PEBB President and CEO Ian Weiner said. “There is truly nothing like it in the local market, as new and established businesses alike benefit from the entrepreneurial ecosystem the Research Park and FAU have created.”

Tenant expansions also continue to be a key driver of momentum at the Park. Instrumentum, an emerging leader in surgical instrument sterilization, expanded its footprint by an additional 5,977 square feet less than a year after taking occupancy. Instrumentum has grown to 16,029 total square feet, now serving major hospital systems and ambulatory surgical centers across the US.

“It is always gratifying to see our tenants grow, especially so soon after initially arriving at the Park,” Research Park at FAU President Andrew Duffell said. “We are unwavering in our commitment to provide these innovative companies and entrepreneurs with access to mentors, potential partners and funding sources. Banyan and PEBB continue to excel at curating our Park with the right complementary tenants.”

The leases were facilitated by Derek Baker, Gary Gottlieb and the Colliers team, which represent Banyan and PEBB.

Located at 3600-3998 FAU Blvd., the Research Park includes a total of 282,249 square feet of office space. It is the only state university-affiliated research park in South Florida and considered a premier technology business incubator for the region.