Net Lease Life Science Facility 14209 NW 119th Ter 21,455 SF 4-Star Industrial Building Alachua, FL 32615 For Sale

OM AVAILABLE UPON REQUEST. We are pleased to present the opportunity to acquire Foundation Park Building II, a newly constructed, Class A, 21,455 square foot light manufacturing and laboratory facility, 100% leased to Ascend Advanced Therapies, a strong corporate tenant and leading manufacturer in gene therapies, immunotherapies, oncolytics, and vaccines. The lease commenced on April 1, 2024, with more than 13 years of remaining absolute NNN term and significant tenant-funded improvements exceeding $25 million, reflecting a deep operational commitment to the location. The NOI is $1,466,973.10.
Located in Alachua, Florida, which is a growing city for Florida’s research industry, this property is part of the Progress District. Progress District is a mixed-use development that merges established biotech clusters founded in academia with ecotourism, community, and retail to enable more community members who work in the district to live and enjoy recreational activities, entertainment, and great food and beverage without the need for a long commute. The 800-acre research-based community is comprised of 6 sub-districts that meet a variety of needs in the community and achieve the overall vision of a thriving live, work, and play ecosystem rooted in nature. It is home to one of the first bio-business incubators in the U.S. (UF Innovate | Accelerate at Sid Martin Biotech) and a college focused on emerging technology degrees (Santa FE College Perry Center).
Other companies within Progress District include Momentum Labs, The Jackson Laboratory, Evergen, Etectrx, Canaery, Axogen, and the National Center for Construction, Education, and Research (NCCER).