Phoenix, AZ – Colliers International in Greater Phoenix recently completed the long-term lease of the 9,513-square foot Regents Centre II in Tempe for The Money Source, a fast-growing privately held residential lending company, which plans to establish its executive recruitment division near Arizona State University.
The Money Source, based in New York and San Francisco, leased the Class A office space, located at 1910 W. University Drive in Tempe, from MSC Tempe, LLC of Boston.
Greg Hopley, executive vice president with the Colliers’ office in Scottsdale, exclusively represented The Money Source. The landlord was represented by Michael Garlick, senior managing director, and Michael Crystal, managing director, of Newmark Grubb Knight Frank in Phoenix.
“The Money Source was very interested in locating its executive recruitment division in the Valley because of the region’s access to a talented workforce,” said Hopley, noting that company leaders met with Tempe and ASU officials during their decision-making process.
The Money Source plans to begin operating in the building between January 15 and February 1, and has already hired more than 25 employees eager to start work. Employees in the executive recruitment division will accomplish a number of functions, including high-level mergers and acquisitions, candidate vetting for positions throughout the country and growing the company’s portfolio.
Mike Mirshahzadeh, chief revenue officer of The Money Source, will relocate to the Phoenix area from San Francisco to lead the company’s expansion at the Regents Centre II.
“Arizona is a great opportunity for the entire organization to open more offices and expand our current services,” said Mirshahzadeh. “The modest cost of origination allows us to use these new offices to introduce a new wave of local talent to the industry under our company culture and emphasis on top-notch customer service. The talent pool will allow us to hire hundreds of professionals who will continue growing our operations and retail divisions.”
“Over the past three years nearly 16,000 new jobs have been announced in Tempe,” said Tempe Mayor Mark Mitchell. “We are a city where businesses can start, grow and thrive with our talented workforce. I am thrilled to welcome The Money Source to our community. They add to the strong financial services industry in Tempe.”
"ASU is proud to have played a role in attracting MoneySource and other businesses to Tempe. Today's good news reflects the university's strong partnership with the city, our commitment to strengthen the community around us and our role in providing a high quality education to students who will step into the jobs of the future," said Angela Creedon, ASU Associate Vice President for Community and Municipal Relations.
Built in 1998, Regents Centre II is a two-story office building with a private lobby entrance and granite and tile finishes as well as floor-to-ceiling glass. Located just east of Phoenix Sky Harbor International Airport and State Route 143, the 42,000-square-foot building is situated on 4.41 acres at the northeast corner of South 52nd Street and West University Drive, about 1.5 miles from Arizona State University.
“The Money Source has excellent opportunities in Tempe, from starting its executive recruitment and training program, to being close to ASU and its great source of employees who will learn this business from the ground up,” said Hopley.
The Money Source is one of the fastest growing, privately held lending companies in the United States. It is a Fannie Mae/Freddie Mac approved seller/servicer, Ginnie Mae approved issuer and approved lender/servicer in 49 states.