City takes possession of vacant bio-science research building

The city of Port St. Lucie took possession of a 107,000-square-foot building vacated by a medical research institute that ceased operations.

The nonprofit Vaccine and Gene Therapy Institute failed despite attracting $120 million in public funding from city and state sources.

Port St. Lucie Mayor Gregory Oravec told the Palm Beach Post the city wants to sell or lease the building. The city has renamed the building the Florida Center for Bio-Sciences.

Port St. Lucie last year had retained brokerage firm Colliers International to market the building. [Palm Beach Post] – Mike Seemuth