Lam Research Corp Acquires Office In Phoenix From JDM Partners For $45.77M

An office asset located at 25700 North Norterra Parkway in Phoenix, AZ was sold for $45,770,000. The property spans 147,638 square feet, equating to a price per square foot of $310.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $45,770,000
• Buyer: Lam Research Corp
• Seller: JDM Partners
• Broker: Newmark
• Square Footage: 147,638 SF
• Price Per Square Foot: $310
• Market: Phoenix, AZ

Lam Research Corp acquired the office from JDM Partners, who had purchased the property for $48 million in 2018. The buyer currently leases 25,000 square feet nearby, while 83% of the newly acquired space remains unoccupied.