Office experts from the Phoenix office of JLL have completed a 74,625-square-foot lease for PennyMac – establishing the company’s first-ever Phoenix office location and marking one of the largest lease commitments to sign in the Valley since the start of the COVID pandemic.

JLL Managing Directors Mark Gustin and Dave Seeger represented the building owner, Arnold Realty LLC of Oklahoma City, in the lease transaction.

With the lease, the company will occupy a full building located at 3201 E. Elwood St. in Phoenix, just off of 32nd Street and immediately facing Interstate 10. Amenities at the property include Class A office space, a large on-site cafeteria, shared outdoor spaces and generous covered and surface parking. The building is minutes from Sky Harbor International Airport, downtown Tempe and downtown Phoenix.

“PennyMac was looking for a high-quality, well-amenitized building that would help it fill and retain high-level local sales positions at its first Phoenix office location,” said Gustin. “This building meets all of those requirements, with a contemporary work environment and easy access for employees living in the East, Central and West Valley submarkets.”

PennyMac is the fourth-largest lender in the United States, with more than 5,000 employees nationwide. It is scheduled to move into its new Phoenix office in December of this year.