San Diego-based life sciences company buys Dunedin industrial property for $3.9 million

CAP Realty represents Amaratek, focused on U.S. Department of Defense and Homeland Security technologies, in purchase of 150 Douglas Ave.
By: Commercial Asset Partners Realty
DUNEDIN, Fla. - Nov. 25, 2023 - PRLog -- A San Diego-based life sciences company focused on providing scientific and engineering services to the U.S. Department of Defense and Homeland Security is expanding to the East Coast by adding a second location to its operations. Paloma Azul, LLC, affiliated with Amaratek, has purchased a 33,846-square-foot industrial property located at 150 Douglas Ave. in Dunedin for $3.9 million.

With move-in to 150 Douglas Ave. planned for early 2024, Amaratek President David Dumas expects Amaratek's expansion will bring 20 new high-paying jobs to the area. Amaratek plans to hire for program managers with defense contracting experience, machinists, welders, chemists, and engineers.

Heidi Tuttle-Beisner, broker-owner at Commercial Asset Partners (CAP) Realty represented the buyer in the real estate transaction. Brian Andrus of Stonebridge Real Estate/Andrus Development Group, represented the seller, Bridgeview Property Investments, LLC.

"This is a perfect example of companies from other states seeing the many benefits of living and operating a business in Florida," said Tuttle-Beisner. "Life sciences companies have particularly been interested in the greater Tampa Bay area, and we're thrilled to have found a property here that works for Amaratek's needs. The City of Dunedin and Pinellas County really rolled out the red carpet to help bring Amaratek here."

Originally founded in November 2002 to deliver research and development services to the U.S. Department of Defense and Homeland Security, Amaratek developed a biological system for the neutralization of chemical weapons and delivered a working system to the U.S. Army in March 2004. Later, Amaratek recognized it could also apply many of the skills and insights honed for military applications to civil government projects. Now, in addition to its focus on U.S. defense and security, Amaratek provides technical services to foreign governments, non-governmental organizations (NGOs) and social entrepreneurs.

The industrial property in Dunedin is over three times larger than Amaratek's building in San Diego. The building was previously used as a manufacturing space, so it met many of Amaratek's electrical and plumbing requirements. A build-out is currently underway to meet the company's additional needs, such as adding chemistry labs, a medium-scale chemistry manufacturing space and fencing to secure the yard.

"It's very hard to do business in California," Dumas said. "The manufacturing and real estate regulations are crippling. And those appear to largely go away with this move to Florida. Our hope is that expanding to Florida will allow us to set up manufacturing operations in a more business-friendly environment."

Commercial Asset Partners Realty
Source:Commercial Asset Partners Realty
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Location:Dunedin - Florida - United States
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