TAMPA, FL-Locally based LifeLink Foundation Inc., a global provider organ and tissue transplantation research and services, has signed a $25-million lease with the University of South Florida Research Foundation to occupy a 125,000-sf building when it is completed next year. The building is rising within the 87-acre South Florida Research Park.

LifeLink has also signed a 50-year land lease with the park’s landlord, the University of South Florida Research Foundation. The park is on land owned by the state and leased to the foundation. The Spectrum Boulevard park is currently 50% leased and will have about 1.2 million sf of rentable space when it is completed.

Claude Maggi of Sperry Van Ness BBRI in Tampa represented LifeLink. Steve Tedder of Carter & Associates negotiated for the foundation. “There are restrictive covenants in the lease between the state and the university which do not allow the property to be used for commercial purposes,” Maggi says. That means “you won’t see a bank or a strip shopping center within the 87 acres that comprise the Research Park,” the broker says.

The park is home to a new Embassy Suites Hotel that includes 247 suites and 18,000-sf of meeting space. A recently completed 130,000-sf interdisciplinary Research Building houses the Center for Biological Defense, the Center for Robot-Assisted Search and Rescue and IDRB Governance.

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