The Money Source subleased approximately 20,000 square feet of Class A office space at 2355 E. Camelback Rd. This marks the company’s second office lease in Phoenix during 2016.
“The Money Source is committed to attracting and retaining the best employees in the Valley and plans to hire approximately 450 employees this year in Metro Phoenix,” says Greg Hopley, executive vice president with Colliers International in Greater Phoenix. “The prestigious 24th & Camelback location offered them the ideal site to attract the best financial, mortgage-minded workers in the metro area.”
Hopley represented The Money Source in the lease negotiations. Tim Whittemore of Cushman & Wakefield represented the sublessor, Jacobs Engineering. The building is owned by Teachers Insurance and Annuity Association of America.
The Money Source, a New York and San Francisco-based company, is one of the fastest growing and largest privately held mortgage companies in the United States. The firm leased space in Tempe earlier this year and has already hired almost 200 employees. The Money Source’s continued growth in Arizona led to the Camelback Corridor lease.
“This presented an excellent subleasing opportunity for The Money Source,” says Hopley. “The company has a lengthy remainder on the lease term and plans to hire approximately 250 additional employees with this additional office.” The Money Source took occupancy of the space this month.
The leased space is located on the 7th floor of the Class A office building on the southwest corner of 24th Street and Camelback Road. Built in 2001, the Class A building is conveniently located across the street from Biltmore Fashion Park and the newly opened Camby Hotel. The Money Source was attracted to the fact that this location was just minutes from Sky Harbor International Airport, Interstate 51 and Downtown Phoenix. Located in the heart of the prestigious Camelback Corridor, the building is part of a submarket that is home to more than 8.7 million square feet of commercial space and approximately 35,000 office jobs.