Local Investors Flip Phoenix Office Complex for $20 Million

Another Taiwanese company is growing its presence in the Phoenix area.

Transdien Engineering acquired a 97,400-square-foot office complex at 19825 North Seventh Street in north Phoenix for $19.5 million, the Phoenix Business Journal reported.

The price amounts to $200 per square foot. The property spans 17.5 acres and was built in 2004.

The seller entities are linked to prominent families in the Phoenix area, including Jim Babe Earnhardt of the Earnhardt Auto Centers dealership group and Scott Michael Cambell and Jimmy Campbell of general contractor Campbell Development.

The sellers purchased the property less than six months ago for $14.5 million, meaning their flip resulted in a $5 million profit.

Transdien’s plans for the property haven’t been revealed.

Toll Brothers Apartment Living proposed rezoning the 17.5-acre site three years ago for multifamily housing, looking to build an 822-unit apartment complex across five buildings. That proposal stalled during the rezoning process, however.

Transdien joins fellow Taiwanese company Taiwan Semiconductor Manufacturing Company in the Phoenix area. In 2020, TSMC announced plans to build a sprawling manufacturing complex at 5088 West Innovation Circle, and production there began in 2024.

Earlier this week, TSMC said it plans to open its first advanced packaging facility at its north Phoenix site by 2029 as part of its plans to expand manufacturing capacity in Arizona. The TSMC facility has also attracted residential interest as well as suppliers. Mark-Taylor Residential, Sunbelt Holdings and Rockpoint just delivered The Hillburn, a multifamily development of 283 units near the TSMC plant in north Phoenix, AZ Big Media reported.

— Chris Malone Méndez