14209 NW 119th Terrace Alachua, FL 32615

Foundation Park Building II is a newly constructed, Class A, 21,455 square foot light manufacturing and laboratory facility. The property is 100% leased to Ascend Advanced Therapies, a manufacturer in gene therapies, immunotherapies, oncolytics, and vaccines. The lease is guaranteed by Ascend’s parent company, which operates internationally, as well as Beacon Therapeutics. The facility is equipped to accommodate biotech manufacturing, featuring a BSL2 laboratory, a fume hood, air filtration, a process chiller, autoclave, and clean room facilities. The tenant recently funded improvements exceeding $25 million. The lease commenced on April 1, 2024, with more than 13 years of remaining absolute NNN term and annual rent increases of 2% through year 9 and 2.5% in years 10-15. Located in Alachua, Florida, the property is part of the Progress District, an 800-acre research-based community comprised of 6 sub-districts. Progress District merges established biotech clusters founded in academia with ecotourism, community, and retail. 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).