Taiwan Semiconductor launches US$38 billion Phoenix presence by signing major lease

Category: Investment
Published: 2020-12-28
Taiwan Semiconductor launches US$38 billion Phoenix presence by signing major lease

PHOENIX – Less than one week after Taiwan Semiconductor Manufacturing Company (NYSE: TSM) secured 1,129 acres of land to build a US$12 billion factory in North Phoenix, the company moved forward with its official market entry with a 46,735-square-foot office lease.

Located at the two-building Canyon Corporate Plaza office campus in Phoenix, the deal marks one of the largest office commitments to sign in the Valley since the start of the COVID-19 pandemic.

Canyon Corporate Plaza will give TSMC Arizona Corporation an administrative home base as it ramps up its Phoenix market presence, a process that will culminate in a new North Phoenix manufacturing facility and up to 1,900 new local jobs over a five-year period.

With an estimated 20-year economic impact of US$38.2 billion, TSMC represents Arizona’s largest-ever foreign direct investment.

Owned by Phoenix-based real estate and investment company ViaWest Group, Canyon Corporate Plaza sits in the heart of the Interstate 17 corridor in North Phoenix, just 15 miles from TSMC’s future manufacturing facility.

“This lease gives TSMC the institutional-quality office space and the geographic and operational proficiencies they need to ramp up their operations in Phoenix ahead of their plant delivery,” said ViaWest Partner Danny Swancey.

Source: AZ Big Media

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