NAI Horizon represented the tenant, a community bank, in a long-term sublease of office space at Scottsdale Centre in Scottsdale, Arizona. NAI Horizon First Vice President Joan Krueger represented Republic Bank of Arizona in the $319,345 sublease of Suite 195 at 7373 N. Scottsdale Road. The community bank is taking 3,545 SF.
DEEPER DIVE: Arizona unemployment rate is down and wages are up
Scottsdale Centre, a highly visible office/medical property along Scottsdale Road, is located at the center of Scottsdale and features new common areas, lobbies, and restrooms. The building is also in proximity to casual cafes and high-end restaurants.
“It was a pleasure assisting Republic Bank of Arizona in taking advantage of today’s growing sublease opportunities,” Krueger said. “The Metro Phoenix office market continues to experience record-high sublease availability. The timing was just right, and this is a beautiful location for this outstanding community bank.”
According to market research, the amount of available sublease office space in the Metro Phoenix market this summer hit an all-time high of 7.5 MSF.
The two-story office building totals 163,311 SF. It was built in 1984 and renovated in 2019. It features 140 surface parking spaces and 584 covered parking spaces.
Chris Jantz with Kidder Mathews represented the sublessor, First Citizens Bank & Trust Company of Raleigh, North Carolina.
