PHOENIX – Transwestern Real Estate Services (TRS) announces that it represented ElmTree Funds, LLC in the sale of 2155 East GoDaddy Way in Tempe, Arizona, to Avnet, Inc., a leading global technology distributor and solutions provider. The 150,000-square-foot Class A office building will serve as Avnet’s new global headquarters.
Transwestern’s Jim Fijan, Executive Managing Partner, Jack Fijan, Director, and Scott Baumgarten, Senior Vice President, represented ElmTree Funds, LLC, in the sale. Currently headquartered at 2211 South 47th Street in Phoenix, Avnet plans to move into the building in mid-2026.
The transaction marks the second largest investment sale in the Phoenix market to date in 2025. In April, Transwestern Investment Group and RX Health & Science Trust (RXHST) acquired Copper Point, a 93,262-square-foot medical outpatient facility located at 3530 South Val Vista Drive in Gilbert, Arizona, for approximately $36 million.
“It’s true that great real estate moves even in a slow market, and that was proven here,” said Jim Fijan. “While this region has a significant number of owner/users, this transaction was notable given its size. The building offers such a unique range of amenities, which we’re sure will be beneficial to Avnet.”
Built in 2014, 2155 East GoDaddy Way most recently served as GoDaddy, Inc.’s corporate headquarters. The building offers a wide range of onsite and nearby amenities. Notable outdoor features include pickleball courts, a skate park, basketball and volleyball courts, and soccer field. Interior amenities include a full-service kitchen, conference and training rooms, and numerous huddle rooms, as well as a full gym, locker rooms and shower facilities, yoga room, and game center.
The building is in the ASU Research Park, the region’s premier research and corporate business park, home to dozens of the region’s top companies. The park features six miles of jogging and bike trails, picnic areas, numerous lakes, and dedicated security. The building offers immediate access to all Valley freeways, significant signage opportunities, and short commutes to residential housing. The Sky Harbor International Airport is located approximately 15 minutes away.
This location is centered in the South Tempe submarket, one of the most active areas of Metro Phoenix, particularly for new-to-market tech companies. According to research by Transwestern, the Phoenix office market consists of 95.1 million square feet, with a vacancy rate of 17.3%, as of the close of Q1 2025.
About ElmTree Funds, LLC
ElmTree Funds, LLC, headquartered in St. Louis, Missouri, is a real estate private equity firm that manages capital on behalf of institutional and private investors. ElmTree’s investment philosophy focuses on making strategic investments in the commercial real estate net-lease and build-to-suit sectors with a focus on industrial properties. Since its founding in 2011, ElmTree has acquired, developed, or financed an extensive portfolio of commercial real estate. ElmTree targets investments in primary and secondary markets across the U.S. that are net-leased to investment grade tenants on a long-term basis. To learn more, visit https://elmtreefunds.com.
About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners, and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.
Four dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.
Media Contact:
Dan Foley
508.272.0017
dan.foley@transwestern.com
twmediarelations@transwestern.com
