Pembroke Pines property renamed Stemtech Square for signature tenant
PEMBROKE PINES (March 30, 2014) – Florida-based real estate investment management group Grover Corlew announced that Stemtech International, Inc. has leased 40,000 sq. ft. in Herald Plaza at 2010 NW 150th Avenue in Pembroke Pines.
As part of the lease agreement, Grover Corlew will rename the office complex Stemtech Square. The 77,209 sq.-ft., two building campus sits on five acres at I-75 and Pines Boulevard.
Stemtech International, a stem cell nutrition company, has signed a seven-year lease and plans to move its corporate headquarters from California to Pembroke Pines. State and local officials offered the company $615,000 in incentives to relocate, which will result in the creation of 90 new jobs and provide a $1.35 million in capital investment for construction, renovation and office equipment.
“We are excited to announce this move that heralds the next step in our global growth strategy and provides us with a business-friendly location to attract the very highest quality employees moving forward,” said Stemtech International President and CEO Ray C. Carter, Jr.
Stemtech began as a company with a single patented product, StemEnhance®, a natural formula of concentrated aphanizomenon flos-aquae. Since then, Stemtech has developed clinically studied products for both humans and animals that support the most important aspects of stem cell physiology. Stemtech’s products enhance the work of the body’s natural renewal system by supporting the release of more stem cells.
“We are pleased to welcome Stemtech, one of the fastest growing private companies in the United States, to our building in Pembroke Pines,” said Grover Corlew Partner Anuj Grover, whose real estate investment management group focuses on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S. “The building location and renovated space is ideal for the company’s headquarters and distribution warehouse.”
# # #
About Grover Corlew
Led by experienced real estate veterans who have worked together since 2002 and who have more than 40 years of combined industry experience, Grover Corlew is a real estate investment management group focused on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S. Grover Corlew has offices in South Florida, Orlando and Atlanta and provides in-house asset management and property management services. The company is also an active developer with in-house development expertise as well as strategic relationships with tenants and local developers throughout the Southeast U.S.