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Lincoln Property Co.’s Grand2 becomes largest Arizona office sale of the year
Transactions - DECEMBER 1, 2020

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Lincoln Property Co.’s Grand2 becomes largest Arizona office sale of the year

by Released

Lincoln Property Co.’s class AA Grand2 office building in Tempe, Ariz., has sold for a reported $187.5 million, making it the largest office sale to close in the state this year and one of the top five office sales to close this year in the southwestern United States.

The building buyer is Apex Capital Investments Corp. Grand2 represents the company’s first-ever Arizona office purchase.

Grand2 was completed in late 2019 by LPC Desert West, the Southwest regional office of Lincoln Property Co. (LPC), in partnership with Goldman Sachs MBD Real Estate. Upon completion, Grand2 ranked as one of Arizona’s largest-ever purely speculative office buildings and was almost immediately leased by San Francisco–based on-demand food platform DoorDash with a full-building, long-term commitment.

“Grand2 is a stand-out building across the board,” said David Krumwiede, Lincoln Property Co. senior executive vice president. “Its amenities and location exceed t

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