Stockdale Capital Partners, a Los Angeles-based real estate investment firm, is committing over $20 million to complete the conversion of Ilume Innovation Center in Scottsdale, Arizona into a fully lab-enabled life science facility. The 15-year old building designed by renowned architect Will Bruder was formerly the North American Headquarters of chemical company Henkel.
The 370,000 square foot renovation project will include move-in ready wet lab suites and amenities such as an auditorium and 1.5 acre rooftop garden for tenants like Systems Oncology and GPS Insight who are already occupying space at Ilume Innovation Center. Stockdale has committed capital spend to meet the growing demand for life sciences users in this area as well as current office tenants’ needs.
“We look forward to executing on Stockdale’s vision of converting Ilume into a fully lab enabled life science building and expanding the local ecosystem,” said Cushman & Wakefield Executive Managing Director Alexandra Loye adding that Scott Boardman and Kristina Cutillo will handle leasing efforts along with her team for this transformed property .
