ElmTree Funds, LLC has sold a 150,000-square-foot office building in Tempe, Arizona, to Avnet, Inc., which will become the company's new global headquarters by mid-2026.

Target Information

ElmTree Funds, LLC has successfully sold the property located at 2155 East GoDaddy Way in Tempe, Arizona, to Avnet, Inc., a prominent global technology distributor and solutions provider. This 150,000-square-foot Class A office building is set to become Avnet’s new global headquarters, with plans for the move slated for mid-2026. Prior to the sale, this site served as the corporate headquarters for GoDaddy, Inc.

The building, constructed in 2014, is equipped with a variety of amenities designed to foster productivity and employee well-being. Among its outdoor features are pickleball courts, a skate park, basketball and volleyball courts, and a soccer field. The interiors include a full-service kitchen, conference rooms, numerous huddle rooms, and a complete gym with locker rooms and shower facilities.

Industry Overview

The current landscape for commercial real estate in Phoenix is indicative of a resilient market, even amidst economic fluctuations. As of Q1 2025, the Phoenix