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One of Arizona's Largest Ever Spec Office Projects Breaks Ground in Tempe

Lincoln Property Co. to Add 357,000 SF to Scorching Tempe Office Market with Development of The Grand at Papago Park Center II
April 10, 2018
One of the largest speculative office projects in Arizona's history is now underway in Tempe.

With Mayor Mark Mitchell looking on, Lincoln Property Co. (LPC), in partnership with Goldman Sachs, broke ground yesterday on The Grand Building Two, a nine-story, 352,000-square-foot building that marks the second of eight office buildings slated for the 3.8 million-square-foot The Grand at Papago Park Center project in north Tempe.

The Papago Center is being developed in part to meet the soaring demand for office space in the east Phoenix suburb of Tempe, where the vacancy rate for Class A office space is at an all-time low at less than 2 percent, noted David Krumwiede, executive vice president with LPC.

In addition to roughly 1.8 million square feet of office space, the Papago Center development will include multifamily, hotel, retail and restaurant space to be built around the Grand Canal, a waterway recently relocated to run through the development.

The Grand Building Two, located at 1027 W. Roosevelt Way, will incorporate creative office space, a two-story lobby, flexible floorplates, a fitness center and a rooftop lounge.

Scheduled to deliver in the second quarter of 2019, the building will also feature a 10,000-square-foot amenity lounge with a full-service restaurant and two conference centers. Jerry Roberts and Patrick Boyle of Cushman & Wakefield handle leasing at the project on behalf of ownership.

LPC completed construction earlier this year on The Grand Building I, a 213,055-square-foot, four-story building fully leased to MUFG Union Bank and SAP. The company is developing the DAVIS-designed office component of The Grand at Papago Park Center, including three parking garages, and is serving as its project manager.
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