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Phoenix & Southwest  + Office  | 

Lincoln Property Divests Tempe DoorDash-Leased Asset for $188M

Lincoln Property Company (LPC) sold Grand2, a 358,000-square-foot Class AA office building in Tempe to Apex Capital Investments Corporation for reportedly $187.5 million. The deal marks the largest office sale to close in Arizona in 2020 and one of the top five Southwestern U.S. office sales this year.

Grand2 was completed in late 2019 and ranked as one of Arizona’s largest-ever purely speculative office buildings. The entire building was almost immediately leased by San Francisco-based, on-demand food platform DoorDash.

Newmark’s CJ Osbrink represented LPC along with Kevin Shannon, Ken White, Brunson Howard, Paul Jones and Rick Stumm. Apex Capital was self-represented in its first-ever Arizona office purchase.

The nine-story building at 1033 W. Roosevelt Way features a 13,000-square-foot indoor/outdoor lobby and amenity lounge with a TV viewing area, collaborative spaces, conference facilities and an on-site fitness facility.

Grand2 is part of a 1.8-million-square-foot phase slated for development by LPC at The Grand at Papago Park Center, a master plan that ultimately will total 3.2 million square feet.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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