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Mortgage Firm Pockets Deed to 19,259-SF Building

PHOENIX-Security Mortgage Corp. drops nearly $2 million for the ClareWeld office building. The acquisition comes with a first-floor tenant and a vacant second story, which is being primed for the buyer's corporate headquarters.

By Jennifer D. Duell | Updated on February 15, 2005

PHOENIX-With plans to relocate its corporate headquarters, Security Mortgage Corp. has purchased the ClareWeld building for just under $2 million from the Cumming Family Trust of Yuma, AZ.

The mortgage firm will move from 6,000 sf at 3800 N. Central Ave. to the 19,259-sf, class B office building at 3724 N. 3rd St. in March. “Security Mortgage needed more space and wanted to buy rather than lease,” Barry Gabel, a senior vice president with Trammell Crow Co.’s local office, tells GlobeSt.com. He and TCC colleagues Mindy Korth and Todd Noel represented Cumming Family Trust while TCC’s Blaine Black and Pat Devine represented Security Mortgage.

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