The City's biotechnology incubator program, dubbed Innovations, was created to attract smaller, start-up research and technology based companies to the area. The new space will offer these new businesses dry and wet lab modules that range in size from 1,500 to 3,000 square feet, along with common area conference rooms, lounge areas and a cafeteria. Companies will sublease space from The City of Chandler, provided they meet the City's requirements.

"This is a completely new concept – the creation of life science and biotech incubator space to organically grow these types of high paying jobs in the City of Chandler," says Mark Detmer, executive director of Cushman and Wakefield in Phoenix. "This facility provides true economic stimulus by creating new jobs."

Detmer and Bo Mills, also of Cushman & Wakefield in Phoenix, represented The City of Chandler. Luke Walker, David Carder and Nick DiPaolo of CB Richard Ellis' Phoenix office represented the landlord, Austin, Texas-based Capital Commercial Investments Inc.