The Magnetic Resonance Imaging and Spectroscopy Center was the third phase of the Markey Cancer Center providing both clinical and research MRI scanning. The facility houses two unshielded 1.5 Tesla whole body magnets, a 4.6 Tesla small bore imager, and a 300 XL spectrometer. The underground research facility contains laboratories, support, and animal care facilities.

The project is designed to incorporate a future three-story research building. The entire Markey Cancer Center houses more than 200,000 SF of research laboratories and support space.