Plaza Cos. sells downtown Phoenix bio plaza to UA for $9.85M

[Source: Angela Gonzales, Phoenix Business Journal] — Plaza Cos. has sold Phoenix Biomedical Plaza to University of Arizona Foundation for $9.85 million, after it paid Ribomed Biotechnologies Inc. about $10 million two years ago for the 2.62-acre parcel.  The property, which includes a vacant 33,000-square-foot biomedical building, sits on the northeast corner of Van Buren and Seventh streets, just across the street from the Phoenix Biomedical Campus.  That campus houses the medical school jointly developed by UA and Arizona State University as well as the headquarters of the Translational Genomics Research Institute.

UA also is planning to develop a cancer center on or near the Phoenix Biomedical Campus, but officials could not be reached to determine if the former Ribomed property will be used to develop the cancer center.  Originally, officials were targeting property north of the campus.  [Note: Read the full article at Plaza Cos. sells downtown Phoenix bio plaza to UA for $9.85M.]

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