Cresa Helps Bring Stemtech Headquarters to South Florida
As South Florida’s life sciences industry continues gaining momentum, Cresa South Florida has helped bring yet another big name to market. Stemtech International, a stem cell nutrition company, is moving its corporate headquarters from California to Pembroke Pines, FL.
Stemtech has signed a lease for 34,279 square feet at 2010 NW 150th Avenue in Pembroke Pines. A new-to-market lease, the firm is moving from San Clemente, CA. Cresa Senior Advisor Zach Wendelin represented Stemtech. Darcie Lunsford, Senior Vice President at Butters Realty & Management, represented the landlord, G&C Herald Investors.
“Stemtech was open to purchasing or leasing a building in South Florida,” said Wendelin. “The company was looking for flex space to combine its headquarters with a call center and warehouse fulfillment operations. This combination proved challenging, but an exhaustive six-month search of the market turned up an ideal location in Pembroke Pines in Herald Plaza.”
Stemtech plans to pursue a multibillion-dollar opportunity from its new South Florida headquarters. According to Transparency Market Research, the global stem cell market was valued at $26.23 billion in 2011 and is expected to reach an $119.51 billion by 2018. Stemtech is on Inc. Magazine's prestigious list of fastest growing private companies based in the United States. Stemtech began as a company with a single patented product, StemEnhance, a natural formula of concentrated aphanizomenon flos-aquae. In the years since, Stemtech has developed clinically studied products for both humans and animals that support the most important aspects of stem cell physiology.
“The State of Florida offers a very business-friendly environment and a highly educated and skilled workforce pool,” said Ray Carter, President and CEO of Stemtech. “The State, Broward County and Pembroke Pines have all been very supportive and encouraging to us, providing information and material business incentives. The Broward County location positions us just 30 minutes from two major international airports which is key for our global business travel. And, of course, the quality of life in South Florida is among the best in the country.”
The 77,000-square-foot Herald Plaza offers frontage along Interstate 75, providing convenient accessibility to the Tri-County area. The plaza is located adjacent to Cracker Barrel, Hampton Inn, and other restaurants and shopping amenities. Herald Plaza is also home to the Miami Herald’s Broward County bureau.
Before settling on a space in Herald Plaza, Wendelin said Stemtech explored possibilities across South Florida cities, including Sunrise, Weston, Miramar and Boca Raton. Stemtech is initially moving 50 employees to its new South Florida location, and expanding that number to 90 over the next three years. Globally, the company employs over 200 employees in 20 countries.
“Herald Plaza was the best fit for our specifications, gave us room to expand in the business park and was conveniently located right off the 75 freeway with nice signage exposure for us,” Carter said. “Most importantly, we were very comfortable with the building owners who worked with us to reach flexible terms that worked for both parties.”
Carter said Stemtech is “thrilled” to be based in South Florida as part of the next phase of its global growth strategy. The company’s mission to spread wellness and prosperity around the world has already reached hundreds of thousands of people in over 30 countries on six continents. He sees the company’s future as the pioneers and world leaders in stem cell nutrition as very bright.
“Cresa was diligent in searching out properties, keeping the process moving and negotiating favorable terms for us,” Carter said. “Cresa knows the local market much better than we did, relocating from California. They also have decades of experience in looking out for our best interests in the process.”
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Corporate Solutions, Portfolio Strategies, Location Planning, Lease Administration, Capital Markets, Mission Critical Solutions, and Facilities Services. With more than 58 offices, Cresa is the largest tenant representation firm in North America. For more information, visit www.cresa.com.
About Stemtech International
Founded in 2005 by President & CEO Ray C. Carter, Jr., and Chief Science Officer Christian Drapeau, Stemtech began as a company with a single patented product, StemEnhance®, a natural formula of concentrated aphanizomenon flos-aquae. In the years since, Stemtech has developed clinically studied products for both humans and animals that support the most important aspects of stem cell physiology.Stemtech's products enhance the work of the body's natural renewal system by supporting the release of more stem cells, helping them circulate in the blood and migrate into tissues, where they perform their ongoing function of renewal and repair to maintain optimal health.
For further information visit: http://www.stemtech.com/