ARIZONA NEWS

Grand2 in Tempe sells for $187.5M in Arizona’s largest office sale of year

Dec 7, 2020, 4:45 AM | Updated: 2:46 pm
(Lincoln Property Company Photo)...
(Lincoln Property Company Photo)
(Lincoln Property Company Photo)

PHOENIX — The Grand2 office building in Tempe has been sold to Apex Capital Investments Corporation for $187.5 million, Lincoln Property Company announced in a press release Tuesday.

The deal is Arizona’s largest office sale of the year and one of the top-five office sales in the southwest United States, according to the release.

The nine story building, located near Priest Drive and Washington Street at Papago Park Center, has been leased by the San Francisco-based food service company Door Dash.

“Grand2 is a stand-out building across the board,” Lincoln Property Company Senior Executive Vice President David Krumwiede said in the release. “Its amenities and location exceed the highest market standards, and it is stabilized by a full-building, long-term credit tenant that is exploding with growth, especially during the COVID-19 pandemic.”

With 358,000 total square feet, Grand2 features a 13,000-square-foot indoor/outdoor lobby, an amenity lounge with TVs, a gym, and office and conference spaces. Office suites include 10 foot by 14 foot windows that overlook a one-of-a-kind water feature.

The LEED certified building also has an underground parking garage and a rooftop deck with views of Papago Park.

Grand2 is part of a sweeping 1.8 million-square-foot development at Papago Park Center by Lincoln Property.

The company hopes to continue expanding the complex to 3.2 million square feet of space featuring offices, restaurants, retail shops and more.

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

phoenix landscape skyline...
Associated Press

Maricopa County near top in white, Black, Hispanic population growth

Metro Phoenix's Maricopa County had among the biggest population growth in white, Black and Hispanic residents last year, according to new U.S. Census Bureau estimates.
9 hours ago
Myron Scott (Courtesy Photo)...
KTAR.com

Missing Valley man found safe; Silver Alert canceled

A Phoenix man missing for weeks was found safe Wednesday, said authorities, who canceled a Silver Alert.
9 hours ago
(Facebook Photo/Julie Gunnigle, rachelmitchellformaricopa.org Photo)...
Danny Shapiro

Gunnigle says Mitchell stance on abortion law creates more confusion in Maricopa County

Democratic candidate Julie Gunnigle believes acting Maricopa County Attorney Rachel Mitchell's stance on how to enforce abortion law in light of Roe v. Wade being overturned has only caused more confusion.
9 hours ago
Republican candidates for Arizona governor from left to right, Scott Neely, Kari Lake, Paola Tullia...
KTAR.com

Republican Arizona gubernatorial candidates square off in contentious debate

Arizona's four remaining Republican candidates for governor took the stage Wednesday night in a contentious televised debate that covered various topics.
9 hours ago
Paul R Newman (Mesa Police Department Photo)...
KTAR.com

Suspect identified in officer-involved shooting with Mesa police on Friday

The suspect in an officer-involved shooting with Mesa police on Friday was identified and booked on multiple charges, authorities said.
9 hours ago
(Pixabay Photo)...
KTAR.com

22 indicted after investigation of south Phoenix criminal street gang

An investigation of a criminal street gang operating in south Phoenix resulted in 22 indictments for various drug charges, authorities said Wednesday.
9 hours ago

Sponsored Articles

...
Day & Night Air Conditioning, Heating and Plumbing

Most plumbing problems can be fixed with regular maintenance

Instead of waiting for a problem to happen, experts suggest getting a head start on your plumbing maintenance.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Update your child’s vaccines before kindergarten

So, your little one starts kindergarten soon. How exciting! You still have a few months before the school year starts, so now’s the time to make sure students-to-be have the vaccines needed to stay safe as they head into a new chapter of life.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

ADHS mobile program brings COVID-19 vaccines and boosters to Arizonans

The Arizona Department of Health Services and partner agencies are providing even more widespread availability by making COVID-19 vaccines available in neighborhoods through trusted community partners.
Grand2 in Tempe sells for $187.5M in Arizona’s largest office sale of year