Based on an aggressive time period, our team used its local knowledge and national partners, versed in BioSciences, to bring the right professionals together with little to no ramp-up period required for the project. Daniel H. Wagnon headed the team, with support from other real estate partners around the country, to complete an in-person interview, occupancy analysis, construction / architectural analysis, financial modeling, and market research.
The expectations set by UF were exceeded with a 28-day turnaround and the result was acceptance of the valuation by the federal departments mentioned. This project exemplifies that each asset stands on its own and must be reviewed as such in providing accurate and useful data.
UF acquired 6.19 acres and two facilities totaling 46,000 square feet. In 2002, The U.S. Dept. of Commerce granted $2 Million to UF, an initial funding of an eventual $7 million renovation of one of the facilities to become a cGMP biologics manufacturing facility. The 23,958 square foot GMP manufacturing facility is designed for multi-product biological manufacturing. As for part of the grant process to construct the project, The U.S. Dept. of Commerce and U.S. Dept. of Economical Development requires valuation of facilities that would be used should any disposition or partnerships occur between UF and third party. UF hired our real estate advisory team to bring proven valuation and biosciences professionals together for an expedited study due in a 30-day time period.