SCOTTSDALE, AZ-First Financial Equity Corp. has cut a seven-year lease for an office spot in the Scottsdale Centre at 7373 N. Scottsdale Rd. in Scottsdale. The tenant will be consolidating three suites in the two-story, 165,000-sf building and moving into one, says Michelle Conley of the Phoenix office of Grubb & Ellis Co.

“Their exposure will be better,” Conley tells of the decision to take an 8,791-sf spot in the building. She says First Financial considered relocation, but liked the building’s high-profile positioning in Scottsdale. And, she adds, the tenant has had its offices in Scottsdale Centre since it was built in 1985.

Scottsdale Centre, which is more than 80% leased, is undergoing a renovation. First Financial’s new office space will be ready for move-in in January 2002.

Conley represented the tenant. Michael White of Insignia/ESG in Phoenix handled negotiations for the building owner, Chicago-based CMD Realty Investors.

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