CBRE Awarded Leasing Assignment for Innovation Park
CBRE has been awarded the marketing and leasing assignment for Innovation Park in Tucson. The 535-acre, master-planned business park in sits in the heart of Tucson’s bio-science region in Oro Valley.
A collaborative team of brokerage professionals with CBRE’s Tucson office will handle the marketing and leasing of the property for owner/developer, Venture West. Tim Healy and Bob DeLaney will focus on the industrial space, David Montijo and Jeff Casper will handle office and medical space and Nancy McClure and Michael Laatsch will oversee retail space.
“Innovation Park is Southern Arizona’s only best in class business park and probably one of the nicest business parks in the western United States,” said Healy. “IP’s great bioscience foundation, with companies like Ventana Medical Systems, Sanofi and Oro Valley Hospital within IP and the U of A Bio5 Institute less than two miles away, combined with one of the most visually stunning settings and a wide selection of recreational options nearby makes this a place where companies’ employees will want to live, work and play.”
Purchased by Venture West in 2007, Innovation Park is home to world-class technology and science companies, including divisions of two of the world’s largest pharmaceutical companies: Ventana Medical Systems, a member of the Roche Group, and Sanofi. The Western National Parks Association, a nonprofit cooperating association of the National Park Service and the first company to build in Innovation Park, is also located in within the complex. Additionally, Securaplane Technologies, a leading supplier of avionics products for business, commercial and military aircraft, will move into a newly-constructed, 55,000 square-foot build-to-suit space in December 2013. Construction of Securaplane’s new space marks the first project facilitated by the Economic Expansion Zone at Innovation Park.
The Economic Expansion Zone (EEZ), approved by the Town of Oro Valley in October 2012, is an overlay district that covers Innovation Park and is meant to encourage economic development by reducing the time required to establish or expand a business by making the approval process administrative for projects that meet all zoning standards.
Oro Valley, and Innovation Park, has become a major base for biotech firms in recent years, partly fueled by nearby Tucson’s University of Arizona. The U of A is a rich source for area start-ups and provides robust incubator support, and Innovation Park’s proximity to the University’s Biosphere 2 research complex and Bio5 Institute, coupled with a local pro-business government, allow for unique opportunities in the form of private and public partnerships.
In addition to a talented labor force and intellectual assets, Oro Valley was recognized as one of the best places to raise kids in Arizona by Bloomberg Business Week in 2012. Set against a beautiful Santa Catalina Mountain backdrop, Oro Valley boasts excellent schools, medical facilities and golf courses making it a true live, work, play environment.
Innovation Park is located at the intersection of Tangerine and Oracle Roads in the town of Oro Valley, Ariz. with easy access to Interstate 10. In addition to world class business amenities, Innovations Park’s 565-acre, master planned campus features 193 acres of natural open space, walking paths and hiking trails and proximity to Catalina State Park.