Property Overview
MEDICAL OFFICE BUILDING
• Absolute NNN Lease
• Annual Escalations
• Letter of Credit and Two Corporate Guarantees
• Class A Property with extraordinary buildout
• Located in the Progress District, in the heart of the Life Sciences Hub
• $25 million in additional tenant improvements funded by the tenant
• 13+ years of lease term commenced April 1, 2024
• The lease includes three (3) x five (5) year options to renew
• The lease includes tenant expansion onto additional land included
Do not disturb tenants Shown by appointment only
ADDRESS 14209 NW 119th Terrace Alachua, Florida 32615
COUNTY Alachua
TENANT Ascend Advance Therapies FL, Inc
ZONING C2 – General Business
BUILDING SIZE +/- 21,455 SF
FLOORS 1
PARKING SPACES
LEASE COMMENCEMENT 4/1/2024
RENEWAL (3) 5 Year Options
TENANT IMPROVEMENT Significant improvements by Tenant, with additional retrofitting for a high-throughput, multi product facility
Interior Photos
Property Aerial
Survey
Tenant Information
ASCEND ADVANCED THERAPIES SYNCONA
Ascend Advanced Therapies is a specialized geneto-GMP (Good Manufacturing Practice) contract development and manufacturing organization (CDMO) focused on advancing innovative gene therapy solutions. Established with expertise in Adeno-Associated Virus (AAV) vector technology since 1991, the company supports clients from preclinical research to commercialization, ensuring high-quality, scalable, and effective therapies.
The company emphasizes cutting-edge platform innovation, flexible process development, and robust analytics to deliver high-yield and highpurity AAV vectors.
A supplemental document about the tenant will be forwarded to you upon request.
BEACON THERAPUTICS
Beacon Therapeutics is an ophthalmic gene therapy company founded in 2023 to save and restore the vision of patients with a range of prevalent and rare retinal diseases that result in blindness. Established in 2023, the company is headquartered in Alachua, Florida, with additional locations in Cambridge, Massachusetts, and London, UK. Beacon Therapeutics focuses on both rare and prevalent retinal conditions, including X-linked retinitis pigmentosa (XLRP), dry agerelated macular degeneration (dAMD), and conerod dystrophy (CRD). In 2024, Ascend Advanced Therapies acquired the CMC team in Alachua, FL.
Syncona is a UK-based life sciences investment company focused on creating and building innovative healthcare businesses. Founded in 2012, its mission is to transform patients’ lives by developing treatments for unmet medical needs. Syncona partners with top-tier scientists and management teams, providing long-term funding and guidance to bring therapies from concept to late-stage development or market approval.
The company maintains a portfolio of cutting-edge ventures in areas like oncology, gene therapy, and autoimmune diseases. Its approach prioritizes sustainable growth, substantial ownership stakes, and ethical investment practices, supported by charitable initiatives through the Syncona Foundation.
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Tenant Information
> $130M Raised
Since company creation in 2022 through seed and series A with funds stemming from reputable biotech investors
120+ years of CGT Delivery Expertise
80 FTEs with deep expertise across CMC manufacturing, process & analytical development and scientific innovation
3x Successful Clinical Products
Three products on our proprietary split two plasmid system currently in the clinic
Regulatory & Process Change Expertise
Understanding of evolving regulatory landscape, EMA/FDA data filing needs and experience with comparability studies
Transatlantic 60k sq. ft Mfx Capacity
With GMP QC coming online 2024 an expansion of PD space in Munich by 2025 to support your pre-clinical needs
> 50 Characterization & Release Assays
An analytical edge via next-gen in-house proprietary assays including NGS, ddPCR and Mass Photometry
> Suspension Bioreactor Range up to 200L
Options to combine runs of Ambr15mL, Ambr250mL.Biostat2L, Biostat5L, Biostat50L and Biostat200L
> 150 Successful Bioreactor Runs
Within suspension systems only and inclusive of 15 successful and comparable SOL bioreactors runs
Discover Progress
Progress District
The Progress District is an 800 acre region that has the resources and room to grow that life science companies doing large-scale advanced manufacturing and chemical work need. It is within 10 miles of state parks, trails, bike paths and natural springs. The Subject Property is located within the Foundation Park area of the district.
The Progress District is an impressive setting for many bioscience and other related companies attracted to the vitality of the area. With 35 companies and over 1,100 employees, the district is one of the largest clusters of biotech companies in the state of Florida. Home to established Fortune 500 companies, Progress District is a destination spot for emerging biotech companies looking for ample opportunities for collaboration and resources.
The region draws business with its available and affordable land, organized municipalities, and elements of cooperation, innovation focus, growth mindset, vision and highly educated workforce. It offers a unique mix of rural beauty and a forward-thinking, results-driven approach to business and economic development. .
HIGHLIGHT S
• 800 acres
• 35 companies
• 1,100 employees
• 11 miles to Downtown Gainesville and UF
• 2 miles to Downtown Alachua
• 10 square miles of surrounding state parks
• 2 hours to Jacksonville, Tampa, Orlando
Progress District Park Map
This six-area district is also focused on providing life-science companies a modern research community rich in civic life, retail and commercial opportunities, while being connected to nature. Businesses from start-ups to the Fortune 500 have a home in Progress District, which creates a great deal of economic benefits. From jobs to infrastructure to the utilization of research of the University of Florida, Alachua County is gaining a national reputation for helping advance technology companies grow. (Source)
SUBJECT PROPERTY
Progress Disctrict Park Directory
Six Areas of Progress
SUBJECT PROPERTY
An expanding zone that provides companies with room to grow.
Foundation Park is nonresidential and features stateof-the-art facilities with worldclass laboratories to help companies grow.
Copeland Park is an established and mature zone that’s focused solely on businesses. It’s fully developed and ready to help companies thrive.
Progress Park has been home to innovative companies since the 1980s and has the resources and connection to UF to help business change the world.
Research meets residential at Convergence Park. You’ll find a walkable and vibrant town center with retail and restaurants as well as office and lab space.
Alachua, FL
Alachua, Florida, known as “The Good Life Community,” is a charming city nestled in northern Alachua County. With its welcoming atmosphere and natural beauty, Alachua offers a blend of rural serenity and modern convenience. Just a short drive from Gainesville, the city benefits from proximity to the University of Florida and its associated cultural, educational, and economic opportunities.
Alachua boasts a thriving local economy supported by agriculture, biotechnology, and small businesses. The Progress Corporate Park is home to several innovative companies, including those within the thriving biotech sector, such as RTI Surgical and AGTC, contributing to the area’s reputation as a hub for life sciences.
In The Neighborhood
SUBJECT PROPERTY
SANTA FE COLLEGE PERRY CENTER
Offers cutting-edge programs in biotechnology and health sciences. With state-of-the-art labs and industry ties, it prepares students for high-demand careers and supports regional STEM education and economic growth.
SAN FALASCO HAMMOCK PRESERVE STATE PARK
SANTA FE COLLEGE
. A nationally recognized institution offering a wide range of academic and career programs. Known for its quality education and community focus, it provides students with pathways to success through innovation and support. Santa Fe College currently enrolls approximately 12,729 students, with a strong focus on undergraduate education.
A natural haven known for its lush forests and diverse ecosystems. The park features hiking, biking, and equestrian trails, offering visitors a chance to explore Florida’s unique wildlife and scenery. It’s a favorite spot for outdoor enthusiasts and nature lovers.
University of Florida
A top-ranked public research university. Renowned for academic excellence and innovation, UF offers diverse programs and fosters leadership, discovery, and community impact. The University currently enrolls over 55,000 students making it one of the largest universities in the state.
Hospitals In the Area
SUBJECT PROPERTY
Alachua
BROKER PROFILE
PAUL ZEMAN
Partner
President, Healthcare Real Estate Services
Paul@BullRealty.com
404-876-1640 x 133
For seventeen years Paul and his team have specialized in the Healthcare Real Estate sector advising clients in the acquisition and disposition of institutional quality medical office buildings and portfolios in the $5mm to $100mm+ price range. The Healthcare Real Estate Services Team at Bull Realty, Inc. has implemented business plans and strategies for medical office building owners to maximize asset value resulting in hundreds of millions of dollars of properties sold. This has established Paul as an authority and go-to broker in MOB acquisitions and dispositions. Paul regularly moderates, participates on panels and holds round table discussions at various National Healthcare Real Estate Conferences.
Prior to entering Healthcare Real Estate, Paul held multiple securities licenses as a Financial Advisor with Prudential Securities and later turned to his family roots as a Healthcare Provider in the outpatient diagnostic imaging sector with MedQuest Associates where he developed, managed, and marketed close to one hundred centers and built relationships with thousands of physicians, healthcare systems, and private practices.
Paul moved to Atlanta, GA in 1992 after graduating from Drew University with a degree in Applied Mathematics. Paul is married with two sons and lives in the north Atlanta area. He enjoys tennis, boating, and watching his sons play sports.
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CONFIDENTIALITY AGREEMENT
This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of the undersigned party (“Receiving Party”), the owner of the subject property and undersigned agent for the owner Bull Realty Incorporated (“Broker”).
Now therefore in consideration of the privileges granted to Receiving Party with respect to receiving certain confidential information, and other good and valuable consideration, the Receiving Party hereby agrees to the following:
I. Confidential Information:
Receiving Party will receive confidential information regarding a property referred to as 14209 NW 119th Street, Alachua, FL. Receiving party agrees to not disclose with any person that the property may be available for sale or lease, or that discussions or negotiations are taking place concerning a possible purchase or lease of the property, nor any terms, conditions, or other facts with respect to the property, including but not limited to tenant information, lease rates, lease expirations, income and expenses, and any such possible purchase, including the status thereof. The term “person” used in this agreement shall be interpreted broadly and shall include, without limitation, any corporation, company, partnership or individual other than parties to which Broker approves in writing and shall exclude directors, officers, employees, agents, affiliates, counsel, lending sources, accountants, or representatives of Receiving Party. Receiving party agrees to not contact the property owner, the management, the tenants, the lender, the vendors, the insurers, the employees, or the customers of any business at the site.
This agreement will expire on the earlier of: (a) the date the materials are no longer confidential information within the meaning of this Agreement; (b) the date a contract establishing a business relationship between the parties is signed by both parties; or (c) two years from the date hereof.
II. Acting as a Principal:
Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, regarding this contemplated transaction. Receiving Party acknowledges that Bull Realty Inc. is representing the Seller in this transaction and will be compensated per separate agreement. Receiving Party reserves the right to involve any agent, broker, attorney, or other advisor in the transaction to represent the Receiving Party provided said party is paid by the Receiving Party and said party has agreed in writing to this agreement.
This Agreement shall be governed and construed in accordance with the laws of Florida. Accepted and agreed to this day of , 20
PAUL
ZEMAN
President, Healthcare Real Estate Services
Party
404-876-1640 x 133 FL License: 3421053
Bull Realty, Inc. has been retained as the exclusive brokers to arrange the sale of the Subject Property.
This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon assumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospective purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available to qualified prospective purchasers.
In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents.
This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.
Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser’s obligations therein have been satisfied or waived. The Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline.
This Offering Memorandum may be used only by parties approved by the Owner. The Property is privately offered, and by accepting this Offering Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Listing Brokers The terms and conditions set forth above apply to this Offering Memorandum in its entirety and all documents, and other information provided in connection therewith.