This is a case of the unfortunate leading to Phoenix's long-term gain. You've probably noticed the RiboMed building off 7th street just south of Roosevelt. Part of the biotech revolution downtown, Ribomed is now moving to San Diego as an unfortunate consequence in the shakeup of the area as the biotech industry continues its build-out downtown. To make way for Plaza Cos. larger and updated $80M biotech plaza for the site, RiboMed found itself out of space during the redevelopment, and rather than look for lesser alternatives in short-term leasing it will head to a San Diego location. Although the biotech plaza will take two years to build out, it's a prime location directly across 7th street from the biotech campus and should see strong demand with the projected growth of companies tied directly to biotech and related industries.
Ribomed owner says lost lab space in Phoenix prompting move to San Diego
Plaza Cos. purchases site for $80 mil lab, office facility