Theranos, Which EyesÂ Revolutionizing Lab Testing Industry,Â To Have SignificantÂ Presence in New SkySong 3 Building
A major consumerÂ healthcare innovator shaping the future of lab testing will plant aÂ significantÂ flag at SkySong, the ASU Scottsdale Innovation Center.
Theranos, based in Palo Alto, California, hasÂ leased a 20,000-square-foot wing at SkySong 3, making it one of the largest tenantsÂ in the entire SkySong project. Beating all expectations, SkySong 3 is now overÂ 80% leased as it nears its opening later thisÂ summer.
The move by Theranos means hundreds of jobsÂ will be created at SkySong in the short term, with that figure increasingÂ significantly as the company continues to grow.
Founded in 2003 by Elizabeth Holmes, TheranosÂ is working to shapeÂ the future of labÂ testing and the way health information isÂ collected, analyzed, andÂ communicated. Theranos, in the words of one media outlet, â€œcould turn theÂ diagnostics industry upsideÂ downâ€ and has the potential to save ArizonaÂ taxpayers $1.3 billion dollars over the next decade. Their service providesÂ Phoenix-area consumers with convenient access to less invasive and moreÂ affordable clinician-directed lab testing from blood samples asÂ small as a fewÂ drops collected from a tiny finger stick.Â Theranos hasÂ a national partnership with Walgreens and has been rollingÂ out its WellnessÂ Centers inside Walgreens stores across the U.S., including 25 locations andÂ counting in central Arizona.
With its SkySong agreement, Theranos is expanding its footprint inÂ the Valley. The company currently has an office in Kierland,Â and its signatureÂ presence at SkySong is the perfect fit for its rapidly growing entrepreneurial endeavor.Â CBRE acted as theÂ companyâ€™s commercial real estate agent.
Sunny Balwani, President & COO of Theranos, said the company wasÂ drawn to SkySong because of its growing reputation as aÂ center of innovationÂ and technology.
â€œThe Phoenix-area communityâ€™s reception to our company has beenÂ excellent,â€ Balwani said. â€œOur commitment to innovationÂ will create hundreds ofÂ new jobs and positively impact Arizona over the coming months and years. The SkySongÂ center is anÂ ideal fit for our company, and we are excited to be a part of theÂ project.â€
Sharon Harper,Â President & CEO of Plaza Companies, the masterÂ developer of the project, said that Theranos is exactly the kindÂ of companyÂ that will not only grow and thrive at SkySong, but will further the projectâ€™sÂ mission as a home to innovation andÂ entrepreneurship.
â€œYou really could not ask for a better match in terms of innovativeÂ culture,â€ Harper said. â€œElizabeth Holmes is the epitome of theÂ word â€œentrepreneurâ€.Â She has a true passion to change the way laboratory testing is done and couldÂ change the way we detect andÂ treat disease. We are thrilled to have TheranosÂ become part of the SkySong family and we know that they will feel right at homeÂ in our innovative setting.â€
With SkySong 3 approaching full occupancy, leasingÂ is now well underway for SkySong 4.Â Â The four-story, 150,000 SF buildingÂ which will front Scottsdale RoadÂ south of SkySong Boulevard, is scheduled to break ground in late 2014.Â Â AlongÂ with SkySong 3Â and 4, the SkySong development team is now leasing a plannedÂ 10,500 square foot retail building to be built on the northeastÂ corner ofÂ Scottsdale Road and SkySong Boulevard. Itâ€™s part of the overall mixed-useÂ vision for SkySong, which will include 1.2Â million square feet of developmentÂ when completed.
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