Wexford Science & Technology LLC is launching an innovation lab in downtown Phoenix to give growing life science companies access to flexible lab, office and lab support facilities.
Called Wexford Innovation Labs, the new tenant will take 34,500 square feet of space within Wexford's 225,000-square-foot 850 PBC research and education facility recently built on the Phoenix Bioscience Campus.
This innovation lab will offer lab spaces ranging from 250 to 1,000 square feet for startup bioscience firms that aren't quite ready or able to afford their own commercial lab spaces.
So far, 60% of the lab space has been preleased, said Doug Woodruff, senior vice president and west region executive for Baltimore, Maryland-based Wexford Science & Technology LLC.
Arizona State University has 112,000 square feet at 850 PBC, representing about half of the total structure, he said.
Woodruff said he's negotiating with other life science tenants for the remainder of the building, which sits on the northern portion of the Phoenix Biomedical Campus. The property sits on a 7-acre parcel north of Fillmore Street to Garfield Street, between Third and Sixth streets.
The total parcel has enough room to build more life science and research space in the future for a total of somewhere between 1.5 million to 2 million square feet, Woodruff said.
"We are in early stages of design for the next building, which will be somewhat larger," he said. "We haven't landed on the updated square footage."
Click on the gallery below for an inside look into the 850 PBC facility:
New Wexford Building at Downtown’s Phoenix Biomedical Campus
Depending on lease-up of the Wexford Innovation Labs in the first building, there potentially could be more innovation lab space offered in the second structure, he said.
"We've done these spaces in other knowledge communities and found that as those knowledge communities grow, there's a continued need for growing this space, too," he said. "It really starts to create its own web. We believe there's an opportunity to grow that and grow this kind of space in the next building as well."
The Center for Entrepreneurial Innovation, or CEI, — which expanded into 850 PBC when the building first opened in early 2020 — has been tapped to operate and program the Innovation Labs.
"CEI is going to work with us as our manager," Woodruff said. "They have the expertise and we're happy to find a partnership with them."
Phoenix Mayor Kate Gallego told the Business Journal she expects the 850 PBC project will help put Phoenix on the national map for bioscience innovation.
“This project is especially exciting because it connects two of our highest priorities in Phoenix: supporting small business and fueling the bioscience innovation that is a hallmark for what we can accomplish,” she said. “It will be thrilling to watch for the scientific breakthroughs that will emerge from these spaces.”
Active bioscience sector
Joan Koerber-Walker, president and CEO of Arizona Bioindustry Association, said the Arizona biotech and medtech sector is growing rapidly.
"Companies at all stages of development need places to collaborate and grow," she said. "Wexford Science & Technology is a great partner. AzBio's vision is that Arizona will become a top 10 life science state and infrastructure is key to making that vision a reality. Wexford shares our vision and is investing in it."
CEI is Arizona's most successful life science incubator, Koerber-Walker said.
Since 2013, CEI has supported more than 80 startups that together have created 765 jobs, secured $117.5 million in capital and generated more than $160 million in total gross revenue, she said.
In 2019, the International Business Innovation Association recognized CEI as the InBIA Technology/Science Entrepreneurship Center Program of the Year.
"Wexford made a great decision when they chose to partner with CEI for this important project," Koeber-Walker said.
During Arizona Bioscience Week Oct. 3-9, AzBio will host the AZAdvances Health Innovation Showcase at 850 PBC, she said.
The Oct. 6 conference will spotlight emerging life science companies and provide opportunities to connect with well-established life science leaders and investors, followed by the Venture Madness Kick Off Reception.
