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Mortgage Company Writes $4M Office Lease

PHOENIX-Lydian Data Services, a mortgage outsourcing firm, picks the Valley for its Southwest office. Building owner, Adler Realty, gets a seven-year tenant with the decision to lease 32,412 sf of class B space in Midtown.

By Jennifer D. Duell | Updated on January 11, 2005

PHOENIX-After evaluating several cities for a Southwest expansion, Lydian Data Services LLC has entered the Valley, signing a seven-year lease for 32,412 sf of class B office space in the Midtown submarket.

The mortgage outsourcing firm, which will move into 2600 N. Central Ave. in May, will bring more than 200 new jobs to the Valley, says Jay Hoselton, a senior director with Cushman & Wakefield of Arizona Inc. Hoselton represented Lydian Data Services in the transaction along with Alisa Pettingell of Studley’s Fort Lauderdale office.

Hoselton tells GlobeSt.com that the deal is valued at more than $3.5 million and brings the 323,607-sf, 20-story building to 55% occupancy. Lydian Data Services, a subsidiary of West Palm Beach, FL-based Lydian Trust Co., will occupy 11th and 12th floors ofthe Midtown high rise.

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