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Rendina Cos. Buys Two Acres for R&D Site

JUPITER, FL- The $1.2-million purchase comes with site plan approval for a 40,000-sf building. The land is in Abacoa Town Center Phase II.

By Melissa Kress | Updated on July 31, 2007

JUPITER, FL-With the deed to a two-acre parcel of land back in its hand, the Rendina Cos. plans to move ahead on a 40,000-sf research and development building here. The land is located in Abacoa Town Center Phase II.

Palm Beach Gardens-based Rendina acquired the land from an affiliate of Dyadic International for $1.2 million. Dyadic has held title to the land since 2005 when Rendina sold it the property. In the transaction, Rendina not only got back prime land across from Scripps Florida headquarters and Florida Atlantic’s Northern Palm Beach campus, but site approval for an R&D building, Peter Reed, senior vice president of Rendina Cos., tells GlobeSt.com.

Reed did not reveal a timeline for the development. The new asset will join several others Rendina already owns in Abacoa, including the Abacoa Workplace, entitled for more than 800,000 sf of R&D space, and Abacoa Town Center Phase IV, which has site plan approval for 160,000 sf of office, more than 50,000 sf of retail, four 5,000-sf restaurant pads and 398 residential units.

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