Wednesday, September 22, 2021 8:57 pm

How Grand2 became the biggest office sale of 2020

By Alyssa Tufts | AZ Big Media

A new chapter will begin for a leading tech company at the forefront of innovation and customer satisfaction. When Lincoln Property Company’s Class AA Grand2 office building in Tempe sold in December 2020, it became the largest office sale to close in Arizona that year. Sold for a reported $187 million, the 9-story, 358,000-square-foot Grand2 building will be home to San Francisco-based DoorDash, the leading on-demand food platform.

Grand2, which was completed in late 2019 by Lincoln Property Company (LPC) Desert West in partnership with Goldman Sachs MBD Real Estate, is part of The Grand at Papago Park Center, a master plan that will ultimately total 3.2 million square feet of office, multifamily, hotel, retail and restaurant space. U.S.-based real estate investment management firm Apex Capital Investments Corporation bought the building. DAVIS served as the architect at Grand2 and Whiting-Turner was the general contractor. LPC serves as the developer, leasing agent and property manager for all office space at The Grand, and will continue to serve as property manager for Grand2.

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