Arizona State Savings & Credit Union has leased space in a back-office building in the Technology Center at Talavi, a 67-acre, master-planned business park south of 59th Avenue and Bell Road in Glendale.

Arizona State Savings leased 15,000 sf in the new building.

The business park was developed by SunCor Development Company, a wholly owned subsidiary of Pinnacle West Capital Corp. (NYSE: PNW), which also owns the state's largest utility company, Arizona Public Service. The Technology Center at Talavi is just two miles south of the Agua Freeway or Loop 101, and just four miles west of Interstate 17, a major Valley thoroughfare.

Glendale and that are of the Valley has seen a sharp increase in development in the past two years with the opening last year of the Agua Freeway section, which runs east/west and connects to I-17 and Interstate 10. The northwest Phoenix submarket has more than 200,000-sf of office space under construction and another 100,000 planned. Through the third quarter of 2000, more than 260,000-sf of office space was brought to the market.

The Phoenix office of CB Richard Ellis negotiated the lease.