The signing will bring the bank's second metro Phoenix branch. Sunrise Bank is an affiliate of Arizona-based Sun Community Bancorp Ltd., which operates 16 banks in California, Nevada, New Mexico and Arizona.
Tom Boyle of Lee & Associates Arizona of Phoenix represented the bank in lease talks. The property owner, Chicago-based CMD Realty Investors, had its side of the talks brokered by an Insignia/ESG team that included managing director Michael White, director Mitch Chilton and associates Chris Jantz and Scott Isacksen. CMD owns more than one million sf of space in the Valley.
The lease length is not being revealed. White, in a prepared statement, said the location formerly housed a bank "so it was appealing to Sunrise because of the existing drive-through lane, an ATM and the fact that it already had a vault." The site will cater to Scottsdale and Paradise Valley customers. The site most recently was used as a jewelry store.
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