News Summary
Avnet Inc. has announced the acquisition of a new global headquarters at Arizona State University Research Park, a significant investment in the Phoenix office market. The 150,000-square-foot space, formerly occupied by GoDaddy, includes various amenities and will serve as Avnet’s headquarters starting in mid-2026. This move marks a strategic shift as the company vacates its long-time Phoenix site. The acquisition reflects the ongoing growth and demand in the local technology sector, particularly in the South Tempe submarket.
Arizona – Avnet Inc., one of the largest public companies in the state, recently announced the acquisition of a new global headquarters at the Arizona State University (ASU) Research Park in Tempe. The transaction, finalized on June 6, 2025, involved the purchase of a 150,000-square-foot Class A office building located at 2155 S. Science Drive from ElmTree Funds LLC. The financial details of the acquisition have not been disclosed. Avnet is scheduled to transition to this new facility in mid-2026.
The move comes as Avnet prepares to vacate its current location—a 180,000-square-foot facility in Phoenix, which has been its headquarters since 1997. While the company maintains an existing lease for this site, no comments have been made regarding its future plans for this property. This acquisition is significant, marking it as the second-largest investment transaction in the Valley for 2025, underlining the continued growth and demand in the Phoenix office market.
The new headquarters was formerly occupied by GoDaddy, Inc., which used it as its corporate headquarters prior to the sale. The site boasts numerous onsite amenities, including outdoor pickleball courts, a skate park, basketball and volleyball courts, a soccer field, and a full-service kitchen. Additionally, the premises are equipped with conference and training rooms, as well as fitness facilities, creating a conducive work environment.
Located within the ASU Research Park, the property benefits from extensive recreational facilities. The park features six miles of jogging and bicycle trails, along with several picnic areas and lakes, enhancing its appeal as a vibrant business environment. Security measures are in place to ensure a safe working locale, further attracting businesses to the area. The strategic location offers immediate access to Valley freeways and is conveniently positioned approximately 15 minutes from Sky Harbor International Airport.
The South Tempe submarket, where the new Avnet headquarters is situated, has gained recognition for its ability to attract new technology companies, contributing to the overall economic growth in the region. As reported in the first quarter of 2025, the Phoenix office market comprises around 95.1 million square feet, with a vacancy rate of 17.3%. This statistic reflects broader trends in the commercial real estate market in Phoenix, suggesting both challenges and opportunities for businesses operating in the area.
Overall, Avnet’s new headquarters at ASU Research Park represents a significant development for the company and the local economy, symbolizing ongoing investment and the dynamic growth of the technology sector in Arizona. The anticipated move in mid-2026 continues to underscore Avnet’s commitment to fostering innovation and collaboration within a leading business environment.
Deeper Dive: News & Info About This Topic
- KTAR: Avnet Headquarters in Tempe
- AZ Big Media: Avnet Buys Former GoDaddy Headquarters
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- Rebusiness Online: Avnet Purchases Office Building
- Axios: Avnet Among Arizona’s Top Fortune 500 Companies
- Wikipedia: Avnet
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