PHOENIX, AZ (January 8, 2026) — Lam Research Corporation purchased a 147,638-square-foot, three-story Class A office building in north Phoenix's Deer Valley submarket for $45,770,000 ($310 PSF) on December 23.
The property, located at 25700 N. Norterra Pkwy., was built in 2016 and sits on 12.33 acres near Interstate 17, a short drive from TSMC’s Phoenix campus. The acquisition underscores continued momentum in the Deer Valley submarket, where semiconductor suppliers are expanding office and industrial footprints to support the growing chip-manufacturing ecosystem.
The seller was Phoenix-based JDM Partners, a real estate firm co-founded by Jerry Colangelo, who serves as chairman. Newmark’s Chris Marchildon, CJ Osbrink, Barry Gabel, Gary Cornish, and Nico Burgarello represented the seller in the transaction, and Erin McClure, also with Newmark, represented the buyer.
Lam Research, a supplier of wafer fabrication equipment to leading chipmakers, is also currently a tenant in the neighboring office building, Terrawest (approximately 152,000 square feet), where multiple TSMC suppliers have established a presence. The Deer Valley area continues to attract increased interest as companies relocate operations closer to TSMC’s expanding manufacturing campus.