Phoenix, Arizona – CBRE announced Movement Mortgage, a Charlotte, N.C .- based full-service mortgage company, signed a 13,362-square-foot lease at Chandler Center Commons in Chandler, Ariz. The company plans to relocate its Tempe office to the Chandler property.
Jamie Swirtz with CBRE represented the tenant in the transaction.
Movement Mortgage signed a long-term lease at the property, located at 5500 W Chandler Blvd. The 2008 built single-story multi-tenant campus sits adjacent to the 1.2 million-square-foot Intel Corporation Chandler Campus and less than 2.5 miles from I-10, Loop 101 and the Loop 202 San Tan Freeways.
“Since the pandemic, we've seen an increase in demand for easy walk-up access and exterior-loaded entrances, so tenants can control their own environment,” said Swirtz. “The space offered higher ceilings and a lot of natural light, creating a modern and comfortable workplace.”
Charles Miscio with CBRE represented the landlord in the transaction.
“Chandler continues to be a very desirable location for major employers due to its strong educated workforce and relative affordable cost of living and quality of life,” said Miscio.
The Phoenix office market ended 2021 with 314,247-square-feet of positive net absorption, marking its first quarter of positive net absorption after six quarters of negative net absorption, according to CBRE research. The Southeast Valley finished the year at 18.9 percent vacancy, and Allred Park Place’s Buildings 7 and 8 accounted for 300,000- of the 450,000-square feet of office space delivered in the fourth quarter of 2021.