Arizona is emerging as a national contender in the life sciences and biotech arena, creating new and exciting opportunities for commercial real estate development across the state. Long known for its affordability and pro-business climate, Arizona is now attracting attention from pharmaceutical companies, research institutions, and health-tech startups seeking space to innovate, manufacture, and grow.
The momentum is especially strong in Greater Phoenix, where institutions like Arizona State University, Mayo Clinic, and the Translational Genomics Research Institute (TGen) are helping drive research and commercialization. The Phoenix Biomedical Campus—a 30-acre downtown hub anchored by academic and clinical partners—is expanding rapidly, creating demand for highly specialized lab, office, and mixed-use space.
Elsewhere, the growth of bioscience and medical device manufacturing is transforming industrial real estate. In places like Mesa, Chandler, and Peoria, companies are repurposing flex and light-industrial buildings for cleanrooms, R&D labs, and advanced manufacturing. Developers are responding by designing adaptable facilities that meet the strict requirements of life sciences tenants—from high ceilings and robust HVAC to enhanced electrical capacity and backup systems.
Arizona’s workforce is another draw. With strong STEM programs at local universities and a steady stream of skilled graduates, the talent pipeline is helping fuel sustained sector growth. The state’s quality of life and relative affordability also make it a magnet for biopharma executives and remote professionals alike.
As demand rises, commercial real estate professionals are taking note. Life sciences and biotech firms have unique space needs—and they’re willing to pay a premium for the right fit. Whether it’s urban infill lab space, suburban tech campuses, or build-to-suit facilities, the sector offers a compelling opportunity for forward-thinking developers and investors. Arizona is not just growing—it’s evolving, and life sciences is leading the charge.
PLAZA COMPANIES IS THE PREMIER CHOICE IN COMMERCIAL REAL ESTATE
