“For Daya Medicals, the decision to take space at the UM LSTP came down to creating new opportunities for our firm on both the business and research collaboration fronts,” says Dr. Kanti Daya, CEO and Medical Director of Daya Medicals. “On a micro level, we will have direct access to the faculty and resources of the University of Miami, one of the most active research institutions in the nation. On a macro level, we are confident that Miami’s international ‘gateway’ status will open doors to new markets in countries outside the U.S.”

The project’s current master plan includes five buildings comprising between 1.6 and 2 million square feet of space. In addition to lab and office space, the park will contain restaurants and retail to serve the Miami Health District and residents of nearby neighborhoods. The development of the park’s first building is projected to create more than 1,150 direct and indirect jobs, with an additional 2,700-plus direct and indirect positions created by ongoing operations, according to a recent study by the Washington Economics Group.

"This lease is proof of product," Joseph Reagan, vice president of Hanover, MD-based Wexford Science & Technology, tells GlobeSt.com. "Coming from outside the market, we didn't know what to expect from Miami. Miami is proving to be a good place to do business. The challenge is getting people from outside the market to look at Miami as an international banking and commerce center. We need to get that message out to the life sciences world."