A real estate investment firm has acquired at auction two large pieces of land in north Phoenix for a combined price of $88 million.
The winning bids were placed by Hai Chien Wang, chief executive officer of Taicoon Property Partners, which is based in Arlington, Virginia.
The land in question is not far from both the giant and growing Taiwan Semiconductor Manufacturing Company campus, as well as the 2,300-acre master planned community called Halo Vista.
In a statement, the Taicoon company said that it regards the TSMC and Halo Vista developments as “potentially complementary to the broader economic momentum underway in north Phoenix.”
The auctions, conducted by the Arizona State Land Department, represent the most significant Western investment to date for Taicoon.
Last year the company purchased a 12-story, nearly 200,000-square-foot office building at 1400 K Street NW in the District of Columbia for $35.5 million; after earlier buying a 12-story, 92,000-square-foot structure for $16 million at 818 Connecticut Avenue NW.
Wang helped to launch Taicoon in 2023 and has for the most part been an enthusiast of urban real estate and development.
The company won the two Arizona State Land auctions through its affiliate, Dove Valley Phoenix. Hai additionally said in a separate statement that acquisition of the two Phoenix properties represents a “long-term opportunity for how these sites can contribute thoughtfully” to the region’s “continued momentum.”
June 29, 2026
By Garry Boulard
Photo courtesy of Taicoon Property Partners
