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…