Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SCOTTSDALE, AZ-IndyMac Bank F.S.B. has settled on Reliance Northsight for a regional headquarters, signing a five-lease for 24,000 sf of class A office space. The deal has a payout of $2.3 million, according to sources.

IndyMac is planning an August move-in to 14350 N. 87th St. from a 15,000-sf subleased office in Scottsdale Financial Center III at 7272 E. Indian School Rd. “IndyMac has been looking for two years and was subleasing space until they could find the right location,” says John Bonnell, a vice president in Phoenix for Dallas-based Trammell Crow Co. “They were just waiting for the right space.”

Bonnell tells GlobeSt.com that IndyMac was searching for an office building with good access to Loop 101 and the opportunity for a building sign. At the beginning of the search, the Pasadena, CA-based financial institution considered Tempe, but decided Scottsdale was a better fit. “There were very few options that would allow them to have an August move-in,” he says, adding the bank’s new office will hold 120 employees.

Besides Bonnell, the TCC team included Don Mudd and Jason Moore. The building owner, Phoenix-based Reliance Cos., had Jerry Roberts with CB Richard Ellis Inc.’s local office package its terms for the seven-month-old, 136,000-sf building, bought one month after it delivered. It was completely vacant when Reliance took the keys from Opus West Corp. for $19 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.