Wexford Taps Miami's Blanca Commercial Real Estate to Lease UM Life Science & Technology Park

South Florida's most active brokerage and advisory firm to lease the remaining 80,000 square feet currently available on the two top floors of the park's first phase, 252,000 square foot building. End Quote

Miami, FL (1888PressRelease) July 24, 2012 - As University of Miami Life Science and Technology Park (UMLSTP) developer Wexford Science & Technology finalizes plans for the second phase of its new innovation hub in Miami's Health District, the firm is expanding the project's marketing reach with Miami-based brokerage and advisory firm Blanca Commercial Real Estate onboard as exclusive leasing agent. Blanca Commercial Real Estate will work side-by-side with Wexford Science & Technology's leasing team as the park grows its roster of office and lab tenants seeking to advance and commercialize their work in sectors ranging from medical device manufacturing and technology, to clinical research and diagnostic product development.

Blanca Commercial Real Estate will tap into its experience as one of South Florida's most active brokerage and advisory firms to lease the remaining 80,000 square feet currently available on the two top floors of the park's first phase, 252,000 square foot building. The team will be led by President and CEO Tere Blanca and Executive Vice Presidents Alison Pages and Danet Linares. Associate Alexander Cahlin will provide leasing support and data and market analysis.

Current park tenants include Advanced Pharma CR, LLC, Community Blood Centers of Florida, the University of Miami Tissue Bank, Spain-based technology firm Ándago, the Miami-Dade Chamber of Commerce, Binder Biomedical, Denmark-based research firm Glycom, and the Enterprise Development Corporation of South Florida. Retailers include Balans Restaurant, Thea Pizzeria and Cafe, UPS Store and Subway.

"As we fill the remainder of our first building and turn our attention to future phases, we are increasingly seeking to attract new-to-market tenants from Latin America, Europe, the Caribbean and other parts of the U.S.," said Wexford Science & Technology Vice President Joseph Reagan, Jr., AIA. "Blanca Commercial Real Estate brings an extensive network of international and domestic contacts, as well as deep roots in the South Florida community. Their efforts will raise Miami's standing as a global center for research, technology and innovation - with the UMLSTP in Miami leading in these market sectors and serving as a hub of activity."

A number of factors are driving tenant demand at the UMLSTP, including the park's affiliation with University of Miami, location within the Miami Health District, close proximity to dozens of hospitals and research institutes and Miami International Airport, and the city's access to Europe and Latin America, which are both home to thriving life science and technology sectors. Other factors are the Park's technology features, including 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, as well as the Park's overall design elements and high quality finishes.

Blanca Commercial Real Estate has an established track record of securing new-to-market tenants from overseas for some of the region's highest-profile properties, says firm President and CEO Tere Blanca.

"The UMLSTP's early success points to Miami's potential as the intersection of science and innovation for North America, South America and Europe. As companies from overseas increasingly look to Miami as a gateway for doing business in the U.S., the UMLSTP is primed to continue attracting companies across a range of industries," Ms. Blanca adds.

Bill Hunter, Project Leasing Manager with Wexford Science & Technology, points out that the park is experiencing early signs of a 'cluster effect' that will bring together academia, industry, residents and businesses from the surrounding neighborhood. He cites Blanca Commercial Real Estate's ability to effectively brand, market and lease mixed-use developments in other South Florida districts as a key factor in the firm's selection.

"Leasing a university-based research park is equal parts real estate expertise, market knowledge, and community building. Blanca Commercial Real Estate has successfully branded real estate developments in line with their location and tenant advantages across South Florida. We plan to similarly market the UMLSTP and broader Health District. The area is one of Miami's top economic engines. The UMLSTP now offers premier office and lab space in a central location that is ten minutes away from all of Miami's major business hubs and the airport along with terrific dining venues on-site for a community of users that are focused on innovation and as the new phases of the UMLSTP are built-out additional amenities and services will expand," says Mr. Hunter.

All told, the UMLSTP master plan includes five buildings with office, lab, clinical, retail and hotel uses totaling between 1.6 and 2 million square feet. The park's first building is projected to create more than 1,150 direct and indirect jobs when fully occupied, according to a study by the Washington Economics Group.

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