Upcoming Phoenix Biomedical Campus Lands New Tenant

Transwestern’s Managing Director Mark Stratz and Senior Vice President Scott Baumgarten acted on behalf of landlord Wexford Science + Technology.
Phoenix Biomedical Campus.
Phoenix Biomedical Campus. Rendering courtesy of Transwestern

The Center for Entrepreneurial Innovation – Maricopa Community College has signed a 10-year lease with Wexford Science + Technology to occupy 6,500 square feet at its Phoenix Biomedical Campus in the city’s downtown. Transwestern Commercial Services’ Managing Director Mark Stratz and Senior Vice President Scott Baumgarten represented the landlord in the deal. The team was recently selected to lease floors five to seven of the upcoming 104,000-square-foot building

Starting the end of next year, CEI will occupy space on the ground floor of the Class A development, where it will operate its LabForce and Validation Lab programs. The college will join Arizona State University, which also plans to occupy four floors at the location.

The 227,000-square-foot property at 850 N. Fifth St. is near Arizona State University’s downtown campus and will be part of a seven-building campus, expected to include 6 million square feet upon delivery. Wexford broke ground on the project in May 2019, which is one of the several university-related developments the company is working on in partnership with Ventas Inc. Wexford tapped developer Okland Construction and HKS Architects to deliver the Saguaro cactus-shaped building. Completion of the project is expected at the end of 2020.

If you’d like to be featured in Brokers’ Corner, send your deal to deals@cpe-mhn.com.