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PHOENIX-AZ Prime One Mortgage Corp. has relocated and expanded in 39,327 sf of flex office space at Mohawk Business Center, putting a 7.5-year lease into the coffer for property owner Panattoni Development Co. The lease for 10601 N. 19th Ave. is valued at $2.9 million over the term.

“This is a fairly significant expansion for AZ Prime One Mortgage,” says Charles Daggett, managing director for Dallas-based Mohr Partners Inc. “It’s a function of all the home-buying and refinancing that is going on here.” He, Dina Boscardin and Jason Malcolm, also with Mohr Partners, represented AZ Prime One.

AZ Prime One Mortgage is relocating from 10,000 sf at 10625 N. 25th Ave. in the Black Canyon submarket near Interstate 17. Daggett tells GlobeSt.com that AZ Prime One Mortgage was looking for better access to its clients. The five-year-old building is located in the Deer Valley submarket, with access to Loop 101.

AZ Prime One Mortgage will be the lead tenant in the 57,000-sf building, which is now 88% leased. Sacramento-based Panattoni was represented by Ashley Brooks of CB Richard Ellis Inc.

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