Friday, January 16, 2015

SCRIPPS INSTITUTE EXPANDS INTO BRIGER LAND TRACT


SCRIPPS INSTITUTE EXPANDS INTO BRIGER LAND TRACT

While this is not really new information, it is still extremely important to the future of Palm Beach County. The Briger land tract, a 682 acre piece that is just South of Scripps Jupiter location, was designated as Scripps expansion back in 2010. Scripps’ portion, 70 acres, is slated for expansion and also for other complementary biomedical companies that are attracted to them. Meanwhile, The Kolter Group has the rights to the rest of the land. They paid $112 million for it last year making it the largest deal in the county in 2013. They plan to build 2.5 million square feet of “industrial, research and development and biomed space”, 1.2 million square feet of office space, a 300 room hotel, 450,000 square feet of retail, 350 apartments, 800 multifamily homes and 350 single family homes. And that is only on the eastern 475 acres! For the 206 acres West of I – 95, they plan to build 60,000 square feet of retail, 350 apartments, 600 multifamily units and 250 houses. It is truly hard to believe what is coming to Jupiter. It is timely though since Scripps has already reached maximum capacity on their existing campus and needs more space. How big will this biomedical cluster grow? Certainly seems to have lots of possibilities again now that there will be so much additional space. Look for announcements, hopefully soon, about new companies coming here to take some of that space. I am still hopeful that biomedical can be a dynamic new industry that will lift the county and make our initial investment in Scripps look like a bargain. We will see soon enough. As always thanks for reading and have a great day.

Turning Briger site into new Scripps Florida phase advances in Gardens


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