The Real Deal Miami

FAU research park in Deerfield Beach adds insurer

October 21, 2013 03:00PM


FAU Deerfield Beach research park and Andrew Duffell

Boca Raton-based insurer People’s Trust Insurance Company has signed a lease at the Florida Atlantic University research park in Deerfield Beach.

The 40,000-square-foot building, located at Southwest 10th Street and Interstate 95, has had a hard time gaining tenants compared to its big-sister park in Boca Raton. Credit-reporting firm Experian was the sole tenant there; People’s Trust will begin moving in in December. The insurer will transplant 250 staffers from its 19,000-square-foot space on Broken Sound Parkway.

“This is a very welcome kick-start,” Andrew Duffell, head of an authority at Florida Atlantic University that runs both research parks, told the Sun-Sentinel. “This is going to help us go after more companies. We’ll be able to use this as a shining example and show them how it’s done.”

The 310,000-square-foot Research and Development Park in Boca Raton, founded in 1995, reached 80 percent occupancy in July, as previously reported. [Sun-Sentinel]Mark Maurer