Healthcare Real Estate

The authority states that new name more accurately reflects the park's life sciences focus and the spectrum of companies located there.

Real Estate Forum is searching for young professionals who have made a noticeable impact on the industry. The application deadline for nominations is fast approaching at July 17, 2019.

In the past five years, the medical office vacancy in Phoenix has dropped 33%, with the Southwest Valley leading the absorption activity.

Discovery Labs is targeting major markets across the US and also has several international locations in its plans as well. Target domestic markets include: Boston; New York City; Northern New Jersey; Washington, DC; Raleigh-Durham, NC; Chicago, Houston, Austin, San Diego, Los Angeles, San Francisco and Seattle.

The two firms state that the property, which is expected to be completed and ready for occupancy in the first quarter of 2021, will “deliver the critical infrastructure and support network needed to advance biomedical research.”

The U.S. healthcare sector accounts for nearly 18% of GDP and is expected to grow about 5% annually through 2025.