MIAMI—There's no doubt that South Florida has become a magnetfor life sciences firms—and it's not just PalmBeach County. Miami is developing its own hub and Broward County isgetting a piece of the action.

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Stemtech International, a stem cell nutritioncompany, is moving its corporate headquarters from California toPembroke Pines, FL. Stemtech has signed a lease for 34,279 squarefeet at 2010 Northwest 150th Avenue in Pembroke Pines. Anew-to-market lease, the firm is moving from San Clemente, CA.

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Cresa senior advisor ZachWendelin represented Stemtech. DarcieLunsford, senior vice president at Butters Realty& Management, represented the landlord,G&C Herald Investors.

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“Stemtech was open to purchasing or leasing a building in SouthFlorida,” Wendelin tells GlobeSt.com. “The company was looking forflex space to combine its headquarters with a call center andwarehouse fulfillment operations. This combination provedchallenging, but an exhaustive six-month search of the marketturned up an ideal location in Pembroke Pines in Herald Plaza.”

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Stemtech plans to pursue a multibillion-dollar opportunity fromits new South Florida headquarters. According to TransparencyMarket Research, the global stem cell market was valued at $26.23billion in 2011 and is expected to reach an $119.51 billion by2018. Stemtech is on Inc. magazine's list of fastestgrowing private companies based in the United States. Stemtech isinitially moving 50 employees to its new South Florida location,and expanding that number to 90 over the next three years.

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“The State of Florida offers a very business-friendlyenvironment and a highly educated and skilled workforce pool,”Ray Carter, president and CEO of Stemtech, tellsGlobeSt.com. “The State, Broward County and Pembroke Pines have allbeen very supportive and encouraging to us, providing informationand material business incentives. The Broward County locationpositions us just 30 minutes from two major international airportswhich is key for our global business travel. And, of course, thequality of life in South Florida is among the best in thecountry.”

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The 77,000-square-foot Herald Plaza offers frontage alongInterstate 75. The plaza is located adjacent to Cracker Barrel,Hampton Inn, and other restaurants and shopping amenities. HeraldPlaza is also home to the Miami Herald's Broward County bureau.

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