MIAMI, FL – January 19, 2012 – University of Miami Life Science & Technology Park (UMLSTP) developer Wexford Science & Technology is adding six new retailers to its R&D complex in Miami’s Health District. Balans Restaurant, Thea Pizzeria and Cafe, UPS Store, Subway, Quantum Fitness and Liberty Dry Cleaners will provide a variety of services to park tenants, the larger Health District, and nearby residential and commercial neighborhoods. They will occupy a combined 11,600 square feet of prime retail space at 1951 NW 7th Avenue, on the ground floor of the park’s first building, which includes office space, wet and dry labs, and an Innovation Center offering shared business services to emerging tenants.
The 252,000 square foot building is currently 63% occupied less than six months after opening. Tenants include Advanced Pharma CR, LLC, Community Blood Centers of Florida, the University of Miami Tissue Bank, Spain-based technology firm Ándago, medical device firm DayaMed, Heat Biologics, the Miami-Dade Chamber of Commerce, Binder Biomedical, and the Enterprise Development Corporation of South Florida, among others.
“The addition of these retailers will add dining amenities and everyday services to our growing tenant base, activating the street and opening our park to the surrounding Health District in the process,” said Bill Hunter, Leasing Manager for the University of Miami Life Science & Technology Park. “A stable base of retail tenants is a critical component of the community-natured ‘cluster effect’ that is gradually taking shape on our campus and throughout the broader Health District.”
With locations in London and Miami, Balans has built a reputation as a neighborhood restaurant serving modern international comfort food at breakfast, lunch and dinner. The UMLSTP marks Balans’ fourth opening in Miami, with existing locations in Brickell, Lincoln Road and Biscayne Boulevard.
Locally-owned and operated Thea Pizzeria and Cafe, which will serve coffee and pastries in the morning and gourmet pizzas, salads and pastas for lunch, is coming soon. Thea Pizzeria is owned and operated by Thea Goldman, a former owner of Joey’s in the Wynwood Arts District.
“I am excited to become a tenant at the University of Miami Life Science & Technology Park, not only because the building is spectacular and filled with the highest concentration of innovative industries in the city,” said Ms. Goldman, “but because the Life Science Park is the ideal location, in close proximity to several medical institutes, the courthouse, Wynwood Arts District, and the Biscayne Boulevard residential corridor.”
Another locally-owned business coming to the park is Liberty Dry Cleaners, which will provide full-service dry cleaning and laundering. National restaurant chain Subway, known for its sandwiches and salads, will offer a healthy and fast mid-range alternative to park tenants. Quantum Fitness will operate a fitness center. The UPS Store will offer packing, shipping, printing, and business services.
Kerry Newman of Koniver Stern Group represented Wexford Science & Technology in the retail transactions. “The new retail signings at the University of Miami Life Science & Technology Park represent a healthy mix of national chains and locally-owned and operated businesses,” according to Mr. Newman. “Service providers such as Liberty Dry Cleaners, the UPS Store and Quantum Fitness will provide a strong complement to a range of dining options. These are much-needed additions to the Health District.”
The UMLSTP’s current master plan includes five buildings comprising between 1.6 and 2 million square feet of space at full build out. The park’s first building is projected to create more than 1,150 direct and indirect jobs, according to a study by the Washington Economics Group.
To learn more about the park or to inquire about leasing opportunities, contact Bill Hunter of Wexford Miami LLC at (305) 298-4578.
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 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 www.wexfordequities.com for additional information.
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