Case Study

Phoenix Portfolio

Tempe submarket
1.25M size
318M at purchase
452M upon sale

Legacy Parkway identified Tempe as a desirable submarket of Phoenix with characteristics of out-sized growth. Beginning in June 2011, Legacy Parkway acquired and developed six Class A office buildings in Tempe, AZ, totaling approximately 1.3 million square feet.

Hayden Ferry Lakeside building exterior

Investment Acumen

We identified Tempe as a relevant submarket poised for growth. Tempe had transformed into a premiere office submarket in Phoenix with the lowest vacancy rates and highest rents in the state, as well as enviable demographic trends.

Our investment strategy focused on acquiring scale through the acquisition of the best Tempe assets. We succeeded in being the earliest and most decisive investor in the market, generating off-market acquisition opportunities, developing selectively, and enhancing asset value through active asset management.

Find out how we acquired some of the best assets in Austin, TX.