Colliers will lease 850 PBC life science building in Downtown Phoenix
Colliers in Arizona senior vice president Alexandra Loye has been selected to handle leasing of 850 PBC, the new life science innovation building at 850 N. 5th St. in downtown Phoenix. Developed by Wexford Science & Technology, LLC, the 227,113-square-foot facility was completed in November 2020, and serves as an integral part of the 30-acre Phoenix Biomedical Campus (PBC) that is designed to cultivate collaboration and growth in the biomedical industry in Greater Phoenix.
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The iconic design of the 850 PBC building, the world-class researchers from Arizona State University who will anchor it, and the resources and programs it will host for growing life science and technology companies will position it as the center of congregation of the PBC. 850 PBC represents the first phase of the development of the north end of the PBC, which will eventually grow to offer six million square feet of space encompassing up to seven unique buildings. The PBC will become the highest concentration of research scientists and complementary research professionals in the region.
”This purpose-built life science building is the first of its kind in our market and is further fueling Phoenix’ reputation as a dynamic location for entrepreneurial biomedical companies. Downtown Phoenix is becoming a location for local, regional and national life sciences companies to consider due to our extensive qualified workforce, synergies with all three state universities, TGen, and other PBC occupiers, openness to business, and dramatically growing population,” says Loye.
The recently completed 850 PBC features researchers from Arizona State University on the ground floor and floors two through four. The Center for Entrepreneurial Innovation and a restaurant tenant, yet to be announced, occupy the remainder of the first floor. The sixth and seventh floors totaling 69,084 square feet will be offered for lease.
The seven-story glass building is comprised of office and lab space and boasts up to 15-foot 8-inch ceilings, flexible floor plates and expansion options for tenants from small entrepreneurs to major established bioscience and technology companies.
Wexford, ASU, and the City of Phoenix plan to host a virtual ribbon cutting next month.