The biotechnology company left Florida for the Peach State, setting up shop in a 15,600-square-foot space at Georgia Tech’s Technology Enterprise Park.
Atlanta has reeled in another headquarters tenant. VERO Biotech recently wrapped up the relocation of its home base from Cocoa, Fla., to Georgia Tech’s Technology Enterprise Park (TEP) in Midtown Atlanta.
VERO Biotech has set up shop in a nearly 15,600-square-foot space at 387 Technology Circle NW. With its name on the tenant roster of the 236,700-square-foot office and lab building, the emerging biotechnology company has attained a certain instant cachet, as the 11-acre park is widely considered the premier biotech research park in the city.
The decision to move the company to Atlanta was multifaceted, but one of the main reasons was that Atlanta is a growing hub for pharmaceutical and biotech companies. The city is full of innovators such as VERO Biotech, and we wanted to work within that environment and also closely with Georgia Tech,” Namita Khanna, executive director of strategic development with VERO Biotech, told Commercial Property Executive.
VERO Biotech’s Class A accommodations at TEP include laboratories with state-of-the-art clean rooms, administrative support space and a conference facility. Cushman & Wakefield represented the tenant in the lease transaction, while Richard Bowers & Co. stood in for the landlord.
VERO Biotech officially opened its new headquarters on April 6. The company will relocate its administrative, R&D and manufacturing operations over the next six to 12 months. VERO Biotech also plans to add 40 positions to its current staff of 65 within the next year.
“Relocating to Atlanta also gave us the ability to attract top talent who were willing to move to the area based upon the demographics and all that Atlanta has to offer such as a rich history, skyrocketing rates of job growth, and desirable neighborhoods,” Khanna said. “In addition to that, Atlanta has a world class airport, top dining options, and a growing city with a reasonable cost of living.”
(The following article was written by by Barbra Murray for Commercial Property Executive)