PHOENIX, Nov. 8, 2022– Transwestern Real Estate Services (TRS) announces that it brokered three leases totaling 24,134 square feet at Ilume Innovation Center, 19001 N. Scottsdale Road, Scottsdale, Arizona. Transwestern Senior Vice Presidents Mark Stratz, Vince Femiano and Scott Baumgarten brokered the leases on behalf of building ownership, Stockdale Capital Partners, and lead leasing efforts for the 371,937-square-foot building.
The transactions include:
- A chemical research company signed a new lease for 14,986 square feet of wet laboratory and office space on Ilume’s first floor.
- Vidium Animal Health, which provides diagnostic tests to veterinary oncologists, general practitioners and pet parents, signed a new lease for 5,126 square feet of office and wet laboratory space on the second floor of Ilume. The company was represented in the lease by Paul Rambeau and Kevin Lange at Reveal Concepts. Vidium is backed by the Translational Genomics Research Institute (TGen, an Affiliate of City of Hope), a leader in the genomics revolution.
- Nu Planet, whose technology will supply rare isotopes to the pharmaceutical industry, signed a new lease for 4,022 square feet of R&D and office space on the building’s first floor. The company was represented in the lease by Nathan Pancrazi at Keyser.
“Ilume is the home to many companies that are leading innovation and change in their respective industries,” said Andrew Saba, Managing Director of Stockdale Capital Partners. “We are proud to create the environment at Ilume where tomorrow’s technologies are being developed and tested. We welcome these three companies to our growing tenant roster.”
Located in North Scottsdale, Ilume Innovation Center is a LEED-certified, four-story building consisting of office, laboratory and R&D spaces. The former Henkel North American headquarters building features a 1.5-acre rooftop park, fully equipped fitness center, 110-person auditorium, plentiful meeting space and state-of-the-art wet lab space. The building has robust MEP and HVAC systems designed to support life sciences tenants. Nearby amenities include plentiful restaurants, retail and hotel.
“The Phoenix area continues to grow as a destination location for laboratory, biomedical and technology companies, and Ilume Innovation Center is at the heart of the activity,” said Stratz. “The building offers state-of-the-art wet lab space, R&D space and Class A office space, making it a unique and attractive option for companies in a wide range of industries.”
Ilume has 241,379 square feet of space available. The building is located in the Scottsdale submarket, which had 25.2 million square feet of office space with 16.3% vacancy, as of the close of the third quarter of 2022, according to research by Transwestern.
About Stockdale Capital Partners
Stockdale Capital Partners is a Los Angeles-based, vertically-integrated real estate investment firm focused on opportunistic investments across the West and Southwest US. Stockdale has five offices and over 100 employees with more than 40 years of ownership and investing experience. For more information please visit https://stockdalecapital.com.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
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