Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the exclusive listing of approximately 341,298 square-foot property, according to Scott K. Lunine, regional manager of the firm’s Miami office. The asset is unpriced.
Landy Toledo, first vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The property, sitting on 34.7 acres of land is in Raleigh-Durham, North Carolina, a renowned bio-tech hub, and one of the top-ranked U.S. life science clusters.
“KBI Biopharma has occupied the property since 2003 and during that time has invested more than $27 million into the space, $18M of which was invested in 2017 and 2018.” said listing agent and first vice president investments, Landy Toledo of the firm’s Miami office.
Approximately 87.3% of the asset is currently leased to publicly traded KBI Biopharma, Inc. and bioMerieux, Inc. through 2027 and 2021, respectively. Both Tenants has successive options to extend their leases. The remaining 12.7% or 34,621 square feet of property consists of one mostly vacant building, offering additional leasing upside to an investor.
To learn more information or schedule a tour of the property, contact Landy Toledo at (786) 522-7076
About Marcus & Millichap (NYSE: MMI)
With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed nearly 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
About KBI Biopharma
KBI is a biopharma contract development & manufacturing organization driven to accelerate the development of innovative discoveries into life-changing biological products and expand global access of medicines to patients in need. To date, we’ve served over 250 clients around the world including most of the top ten pharmaceutical companies.
About BioMérieux
BioMérieux provides diagnostic solutions (systems, reagents, software) which determine the source of disease and contamination to improve patient health and ensure consumer safety. Its products are mainly used for diagnosing infectious diseases. They are also used for detecting microorganisms in agri-food, pharmaceutical and cosmetic products.
