The Real Deal Miami

Colliers to market Port St. Lucie biotech facility

The owner is the receivership estate of Vaccine & Gene Therapy Institute of Florida Corp.
Vaccine & Gene Therapy Institute in Port St. Lucie

Vaccine & Gene Therapy Institute in Port St. Lucie

Colliers International South Florida will market a 100,000-square-foot biotech research facility in receivership in Port St. Lucie.

The property is owned by the receivership estate of Vaccine & Gene Therapy Institute of Florida Corp.

Kevin McCarthy, a senior vice president of Colliers, will lead an international search for tenants or a buyer that needs the facility’s advanced research capacity.

“The VGTI property offers a state-of-the-art research facility in a rapidly growing area on Florida’s Treasure Coast with live, work and play appeal,” Mr. McCarthy said.

The court-appointed receiver, Michael Imber, selected Colliers in a formal request-for-proposal process. Three finalists presented to representatives of the City of Port St. Lucie and the bond indenture trustee, TD Bank.

The marketing campaign for the facility will launch on May 2. It will be showcased at the International BIO Conference in San Francisco in June 2016.

“Our goal is to assist the receiver in maximizing recovery for creditors of the estate,” Ken Krasnow, executive managing director and market leader for Colliers in South Florida, said in a prepared statement.