Bioscience

Algae fuel company leases 15,000SF

September 2, 2010

By Flinn Foundation

[Source: Phoenix Business Journal] – Heliae Development LLC has signed a 60-month lease at the 202 Business Park in Gilbert. Heliae is a spinoff company that started as part of the algae-based technology program at Arizona State University’s Polytechnic campus in Mesa.

The company is developing a technically viable process to produce aviation fuel from algae.

The lease transaction for 15,070 square feet was announced by Cushman & Wakefield of Arizona, which represented the landlord, Mountain West Industrial Properties in Greenwood Village, Colo. Heliae was represented by CB Richard Ellis in Phoenix.

For more information: Algae fuel company leases 15,000SF