Tempe building sells for $187.5M in largest Valley office deal of 2020

Posted at 8:57 AM, Dec 01, 2020
and last updated 2020-12-01 10:57:59-05

The Grand2, one of Arizona’s largest office buildings to be developed speculatively, sold for $187.5 million, a source familiar with the deal confirmed.

The $187.5 million price tag makes the transaction the largest Valley office sale of 2020 to date.

The building was developed by Lincoln Property Co. in partnership with Goldman Sachs MBD Real Estate, which finished construction on the building in late 2019.

It is fully leased by DoorDash.

Read more from the Phoenix Business Journal.