Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SCOTTSDALE, AZ-First Financial Equity Corp. has expanded its class A office space to 19,520 sf in Scottsdale Centre, adding 2,200 sf to the bottom line with a six-year commitment.

According to Kevin Brands, asset manager and senior vice president with Chicago-based CMD Realty Investors Inc., First Financial is one of the original tenants in the 166,178-sf building, built in the late 1980s at 7373 N. Scottsdale Rd. He tells GlobeSt.com that the six-year deal included reconstruction of two suites that belonged to a former tenant, which moved elsewhere within the Scottsdale Centre complex. “We redid that space to accommodate First Financial,” he says, adding the renovation cost averaged about $12 per sf.

Brands says the direct deal brings occupancy to 83%. With two deals in the pipeline, he says the asset will soon go to 94% occupancy. The building’s quoted rate is $25 per sf to $27 per sf.

CMD was represented by Mitch Chilton, Scott Isacksen, Chris Jantz and Michael White with Grubb & Ellis

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

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.