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University of Miami Life Science & Technology Park (UMLSTP) Finalizes Four New Leases Totaling 7,550 Square Feet of Office and R&D Space


11/21/2011 10:51:04 AM

MIAMI, FL – November 21, 2011 – University of Miami Life Science & Technology Park (UMLSTP) developer Wexford Science & Technology has finalized four new leases for a combined 7,550 square feet of office and research and development space, growing occupancy to 63% just four months after the park opened its doors. The park's newest tenants include medical device firm Binder Biomedical, medical consulting firm Specialty Telehealth Services, the Miami-Dade Chamber of Commerce, and DemeRx, which is the first University of Miami spin-off company to take space. DemeRx is an innovative life sciences start-up company that is making breakthrough discoveries for the treatment of drug addiction among patients coping with chronic pain. The DemeRx clinical research program will pave the way toward developing a new class of non-addictive medications. Founded by University of Miami Miller School of Medicine professor of neurology Dr. Deborah Mash, DemeRx becomes the first University-affiliated company to locate in the UMLSTP's first phase building.

“The addition of DemeRx to our tenant roster further strengthens the relationship between the University of Miami Life Science & Technology and the University itself,” said Bill Hunter, Leasing Manager for the University of Miami Life Science & Technology Park. “With the synergies between the Park, the University and the medical community in the Health District, the Park’s strategic location offers developing companies like DemeRx a sound platform for expanding their research and business operations.”

Binder Biomedical, Inc. is a privately held medical device start-up founded in 2009 with the goal of combining quality engineering with surgeon innovation. The company, started in Boca Raton, is relocating its headquarters to the park, where it will occupy office space as well as research and development space at the Innovation Center, an accelerator space for start-up companies. Binder Biomedical currently provides surgeons with medical devices for the treatment of complex orthopedic and neurological spinal disorders.

“We are excited to be at the park and closer to the University of Miami Tissue Bank, our manufacturing partner for our X-Graft Interspinous allograft,” said Lawrence Binder, President of Binder Biomedical, Inc. “The close proximity to the tissue bank and nearby hospitals positions us to more easily collaborate with our customers and suppliers. We look forward to being an integral part of the park by becoming the go-to company for developing surgeon’s ideas.”

Miami-Dade Chamber of Commerce, with more than 35 years serving the Miami community, advocates for the needs of the growing Black business community. From its new headquarters at the park, the organization will be able to continue to serve the business community and promote communication and networking for all its member businesses.

Specialty Telehealth Services, which provides remote medical consulting services, is also moving into the park's first building.

Now 63% leased, the UMLSTP’s first phase, 252,000 square foot building is home to a growing tenant roster that includes clinical research facility Advanced Pharma CR, LLC, research and product development firm Kaleidoscope, Community Blood Centers of Florida, medical device firm Emunamedica, LLC, national intellectual property law firm Novak Druce + Quigg, Raphael Capital Partners, Spain-based technology firm Ándago, medical device firm DayaMed, the University of Miami Tissue Bank, BioFlorida, Heat Biologics, and the Enterprise Development Corporation of South Florida (EDC), among others.

The UMLSTP’s current master plan includes five buildings comprising between 1.6 and 2 million square feet of space at full build out. Beyond lab and office space, the park will contain restaurants and retail outlets to serve the Miami’s Health District and residents of nearby neighborhoods. The park’s advanced technology features include cloud computing data storage and management and hardwired access to downtown Miami’s Network Access Point of the Americas (NAP) data center, which offers direct, satellite-based connectivity to Latin America and Europe.

The development of the park’s first building is projected to create more than 1,150 direct and indirect jobs, with over 200 new jobs anticipated to be created by ongoing operations, according to a study conducted by the Washington Economics Group.

The park’s phase one building has been pre-certified as a LEED Gold® (Leadership in Energy and Environmental Design) facility by the U.S. Green Building Council.

To learn more about the park or to inquire about leasing opportunities, contact Bill Hunter of Wexford Miami LLC at (305) 298-4578 or the Miami-based Jones Lang LaSalle team of Richard Schuchts, Catarina Jimenez and Gavin Macphail at umpark@am.jll.com or (305) 728-8999.

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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