The Van Nuys, Calif.-based firm, which is one of the nation'slargest home warranty companies, will staff the new office withcustomer service employees who will assist home buyers in selectinga home warranty protection plan. This is First American Home BuyersProtection Corporation's first location in the Valley.

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The company consolidated its operations from several West Coastfacilities into a single space in Phoenix, according to Mike Beall,an executive director with Cushman Wakefield who represented thetenant. Tom Atkinson, a vice president and designated broker withCassidy Turley BRE Commercial and Jason Moore, formerly withCassidy Turley BRE Commercial, represented the landlord, HarschInvestment Corporation.

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Beall says First American Home Buyers Protection Corporation wasattracted to Phoenix's abundant labor pool and low cost of living.The company considered locations in both northwest Phoenix and theSoutheast Valley, but eventually decided the 67,765-square-footRose Garden facility offered a convenient location for prospectiveemployees. Moreover, it boasts parking availability of 7:1,000.

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With the First American lease, the flex-industrial building is90 percent occupied, according to Atkinson says. The asking ratefor the 10-year-old facility is $12 per square foot, triplenet.

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The space that First American leased was formerly occupied by asubsidiary of Lehman Bros. When the company folded, it left behinda "plug and play" space with nearly new cubicles. The space neededminimal tenant improvements. "First American could pretty much moveright in," Atkinson says.

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The Greater Phoenix Economic Council, an economic developmentagency that represents 13 counties that make up the greater Phoenixmetro area, was instrumental in bringing First American Home BuyersProtection Corporation to Phoenix. The organization was notavailable to comment on whether any economic incentives wereoffered for the relocation.

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