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.

Detmer tells GlobeSt. that San Tan Technology Center was one of 13 locations considered by the City of Chandler. The space at San Tan Technology Center was particularly attractive because of the existing infrastructure the former occupant, Intel, had put in place. "Intel provided millions of dollars in savings to the City due to their adaptive re-use of the infrastructure," he adds.

Located at 145 S. 79th St. less than one mile from the Loop 101 and 202 freeway interchange, San Tan Technology Center is a single-story, 129,187-square-foot building. CCI purchased it from Intel in 2008, subsequently renovated it and renamed it San Tan Tech Center. The property includes an on-site substation and existing infrastructure for process piping, as well as a new cooling tower and a complete redesign of the property's exterior façade. In addition, new landscaping was added and the parking lot was resurfaced.

With the City of Chandler lease, San Tan Technology Center is 30 percent occupied.