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Cushman & Wakefield Awarded Project Leasing for 850 Phoenix Biomedical Campus

Seven-story, 227,113-sf building developed by Wexford Science & Technology Building will feature new Wexford Innovation Labs on 5th floor

Cushman & Wakefield has been engaged by Wexford Science & Technology, LLC to provide leasing services for its recently constructed life science and biolab facility, 850 PBC (Phoenix Biomedical Campus), in downtown Phoenix, Arizona.

Designed for LEED Gold certification, 850 PBC is a 227,113-square-foot, seven-story Class A building located at 850 N Fifth St and situated within the larger 30-acre Phoenix Biomedical Campus. Completed in late 2020, the building is 65% leased to multiple tenants, including OncoMyx Therapeutics, Calviri, the Center for Entrepreneurial Innovation (CEI) and anchor Arizona State University (ASU) that occupies part of the first and all the second, third and fourth floors of the building for a variety of uses.

The entire fifth floor of the building will also feature the only market ready lab/incubator space known as Wexford Innovation Labs. Currently under construction, the specialized space is designed as a shared work environment for life science, biotech or other industry related users from 100 to 15,000 sf. It will be available for occupancy in the third quarter 2022.

The Cushman & Wakefield Project Leasing team is led by Alexandra Loye with Scott Boardman and Kristina Cutillo. Cushman also provides facility management for Wexford’s locally and national portfolio. Wexford is managing and leasing the Wexford Innovation Labs.

“850 PBC is a premier, innovative project like no other in the region, offering a rare opportunity for both small and large life science tenants to cultivate new relationships, collaborate and thrive,” said Alexandra Loye, Executive Managing Director. “Already with a strong foundation in diagnostics and medical device, Phoenix is an emerging hub for life science and biotech and for myriad factors remains prime for continued growth. Cushman & Wakefield is thrilled to have been selected to represent this project, and in helping to further advance Phoenix’s future in an important sciences-driven sector.”

850 PBC intently provides a collaborative environment. The adjacency to ASU research labs encourages joint research opportunities for prospective tenants. Maricopa Community Colleges’ CEI LabForce program, located on the first floor, provides onsite life science workforce development training. Furthermore, the building is designed with multiple open common areas for meetings and collaboration, an activated lobby, outdoor plazas, a variety of sitting areas, local art, a stage for events and a ground floor restaurant.

Health and wellness are another focal point with air systems with up to 100% outside air and hospital-grade filtration. Touchless water bottle filler stations are located throughout the building to enable sustainability. Efficient lab enabled floorplates offer high ceilings floor-to-ceiling windows with expansive views of the city and mountains. Additional project features include temperature-controlled loading bays with easy accessibility to tenant suites via service elevators, bike storage, shower facilities, and EV Stations.

Located in the heart of downtown Phoenix, the property offers access to all major transportation links and is also a short walk to an abundance of trendy retail amenities, including Roosevelt Row restaurants, shopping, coffee shops, bars, and galleries. There is also over 10,000 multi and single family housing options in the nearby dynamic urban neighborhoods.

Loye added, “In addition to 850 PBC, Wexford’s development on the Phoenix Biomed Campus will offer scalability, flexibility and growth opportunities for tenants up to approximately 2 million sf when all phases of development are completed.”