Colliers to market Port St. Lucie biotech facility

The owner is the receivership estate of Vaccine & Gene Therapy Institute of Florida Corp.

Apr.April 16, 2016 02:30 PM

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.

Related Articles

Daniel Crann and Timothy Peterson (Credit: iStock)

Movers & Shakers: Colliers taps development services head, Altman promotes COO & more

Steven Hurwitz and Doug Okun

Former CREC brokers join JLL as managing directors

From left: Kyle Jones of Stiles Corp., Mark Corlew of Grover Corlew, Christian Lee of CBRE, Rod Loschiavo of Colliers International South Florida, and Greg Martin of Avison Young

South Florida office market has upside potential for developers, investors: panel

Movers & Shakers: Colliers hires former Foundry Commercial managing director & more

Movers & Shakers: Colliers taps Rod Loschiavo as South Florida office exec & more

Movers & Shakers: Retail brokers join Colliers & more

Colliers buys boutique commercial brokerage in West Palm Beach

Colliers International acquires CREC