University of Miami Opens Phase One of Planned 2 Million Square Foot Life Sciences and Tech Park

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(MIAMI, FL) -- This week Miami took a big step forward in securing its status as one of the nation's most promising markets for life science and technology research with the opening of phase one of its new 2 million square foot medical research and technology park.

At a gathering of over 300 of Miami's senior political leadership, senior academic and medical research staff, and business leaders, celebrated the grand opening of the University of Miami's new Life Science & Technology Park (UMLSTP).

The park's first phase, a 252,000 square-foot building in Miami's Health District, has received its Certificate of Occupancy from the City of Miami, verifying that the building is in compliance with local building codes and clearing the way for tenants to move in and establish operations. The building houses 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 UMLSTP's first building is now more than 60% leased with a number of prospective tenants in the pipeline. Building occupants include Andago, 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; Classic Air Charter; Kaleidoscope; BioFlorida; SunDevice; and the Miami-Dade Chamber of Commerce. Retail tenants include Balan's restaurant, the UPS Store, and Quantum Fitness.

"The University of Miami Life Science & Technology Park is going to lead the way in biomedical research for South Florida, Latin America and the Caribbean Basin," said Pascal Goldschmidt, senior vice president for medical affairs and dean of the University of Miami Miller School of Medicine.

"This state-of-the-art complex will push research to new heights and help us advance new therapies and preventive strategies for patients around the world, while transforming the Miami Health District into a world-class destination for research, technology and the absolute best, most compassionate medical care."

A master plan for the UMLSTP includes up to 5 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. Phase one of the Park, now open, 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.

"We are thrilled to see our vision for the University of Miami Life Science and Technology Park taking shape as tenants begin moving in," said Jim Berens, president of Wexford Science + Technology, the national real estate firm responsible for developing 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. We believe this Park puts Miami in position to become one of America's top R&D clusters."

Pre-certified as a LEED Gold (Leadership in Energy and Environmental Design) facility by the U.S. Green Building Council, R&D Building One of the UMLSTP has been designed in line with environmentally conscious factors intended to reduce energy use and improve environmental stewardship.

The building also offers tenants a number of advanced information technology features, including cloud-based communications systems and direct connectivity with the NAP of the Americas data center in downtown Miami. Additionally, a focus on the pedestrian experience will include indoor/outdoor community spaces and street-level retail that will serve the Miami Health District and residents of nearby neighborhoods. The Park' emphasis on sustainable development earned the 2011 "Project of the Year" award from the Urban Land Institute's (ULI) South Florida/Caribbean District Council.

The phase one building will also have a technology incubation lab where the University of Miami can commercialize their medical research into viable business enterprises. These new bio-med companies will be created in partnership with private entrepreneurs, venture capital firms and private sector enterprises in which the University will have an ownership stake in these new bio-med start-ups.

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