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Debt Collector Takes Midtown Spot for Three Years

PHOENIX-Innovative Debt Recovery Inc. will set up the team in 1,407 sf at 49 E. Thomas Road, signing a lease valued at $40,100 in a 1974, two-story building with a good location and more room for the debt collection agency to expand its headquarters.

By Lee Simmons | Updated on April 05, 2004

PHOENIX-Phoenix-based collection agency Innovative Debt Recovery Inc., looking to expand the headquarters, commits to a three-year lease valued at $40,100. The 1,407-sf office at 49 E. Thomas Road was penned with building owner, AZ Thomas Street LLC.

“They needed a centrally located office,” Laura Becker, a broker with Daum Commercial Real Estate Services, tells GlobeSt.com about the class B lease. “As far as price, it’s so reasonable.” Built in 1974, the two-story office building offers a total 18,892 sf of rentable space. Current tenants include realty companies, a ministry and several non-profit organizations. Innovative will pay about $9 per sf for the suite. Recent numbers on office vacancies in Phoenix’s central corridor indicate nearly 23%, Becker says.

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