Research Park at Florida Atlantic University Announces Several New Transactions

Research Park at Florida Atlantic University Announces Several New Transactions

Banyan Development and PEBB Enterprises finalize impactful deals at technology and startup hub

BOCA RATON, FL – Aug. 7, 2025 – Banyan Development and PEBB Enterprises completed numerous new leases and a sale transaction at the Research Park at Florida Atlantic University, a premier hub for technology, innovation, and entrepreneurship in South Florida. The companies have a long-term ground leasehold interest in the Park’s office buildings.

After approval of the proposed use of Malema Engineering Corporation by the Research Park’s governing authority, the partnership just closed the disposition of building IC7, with Malema Engineering Corp. purchasing the 26,056-square-foot building for $7.2 million on August 6. LRM CREA LLC represented the seller, while Cushman & Wakefield of Florida represented the buyer. Malema proposes to work closely with the Florida Atlantic’s College of Engineering in the areas of materials and corrosion for applications in the semiconductor and biopharma industries.

Other new tenants are also joining the vibrant Research Park, having secured approvals from the governing authority. These include JRM Construction Management Florida LLC, which leased 12,288 square feet in Building IC6, introducing 30 jobs to the park. South Florida Hand & Ortho also secured 11,088 square feet across two spaces in Building IC2.

“The Research Park at FAU continues to attract substantial activity from a wide variety of tenants,” PEBB President and CEO Ian Weiner said. “There is truly nothing like it in the local market, as new and established businesses alike benefit from the entrepreneurial ecosystem the Research Park and FAU have created.”

Tenant expansions also continue to be a key driver of momentum at the Park. Instrumentum, an emerging leader in surgical instrument sterilization, expanded its footprint by an additional 5,977 square feet less than a year after taking occupancy. Instrumentum has grown to 16,029 total square feet, now serving major hospital systems and ambulatory surgical centers across the US.

The new leases and tenant expansion brings total Park occupancy to 80%.

“It is always gratifying to see our tenants grow, especially so soon after initially arriving at the Park,” Research Park at FAU President Andrew Duffell said. “We are unwavering in our commitment to provide these innovative companies and entrepreneurs with access to mentors, potential partners and funding sources. Banyan and PEBB continue to excel at curating our Park with the right complementary tenants.”

The leases were facilitated by Derek Baker, Gary Gottlieb and the Colliers team, which represent Banyan and PEBB.

Located at 3600-3998 FAU Blvd., the Research Park includes a total of 282,249 square feet of office space. It is the only state university-affiliated research park in South Florida and considered a premier technology business incubator for the region.

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About PEBB Enterprises: PEBB Enterprises is a privately held, vertically integrated real estate investment and development firm based in Boca Raton, Florida. Founded in 1973, PEBB has operated for more than 50 years, with a strong entrepreneurial spirit and a forward-thinking team driving its continued growth. The company specializes in the acquisition and development of high-quality retail, office, and mixed-use properties. With a fully integrated platform and a proven track record spanning over 10 million square feet of commercial real estate across the United States, For more information, visit https://pebbenterprises.com.

 

About Banyan Development: Banyan Development is a real estate investment company focused on commercial development in the state of Florida. Banyan and its principals have investments throughout the US that include retail, industrial, medical office, residential & multi-family assets. For more information visit www.banyandev.com.

 

About the Research Park at Florida Atlantic University
The Research Park at Florida Atlantic University is home to technology companies and research-based organizations working to support the research and development activities of Florida Atlantic University and to foster economic development and broaden the economic base of Broward and Palm Beach counties. The Research Park at FAU hosts Global Ventures, an international soft-landing center for second-stage technology companies and FAU Tech Runway, a South Florida public-private partnership that serves as a hub to accelerate technology development and incubate startup companies. The Research Park at FAU is a 70-acre destination for R&D companies to thrive, established in 1985, it is widely regarded as South Florida’s laboratory for new entrepreneurial ideas and technologies. The Research Park at FAU is governed by the Florida Atlantic Research and Development Authority, an independent special district created by Palm Beach and Broward counties in partnership with Florida Atlantic University, organized under Chapter 159, Part V, Florida Statues. (www.research-park.org)

Media Contact: Eric Kalis

954-370-8999

ekalis@boardroompr.com