The pact for 4320 E. Cotton Center Blvd. is valued at slightly more than $1 million for building owner, Opus West Corp., says Scott German, a VP with NAI Horizon's Phoenix office. "Mortgage Information Services wanted flex space that would offer ease of expansion and they also wanted a location that would provide a professional image," he says. "They also wanted shell space so they could build it out to their specifications."

German tells GlobeSt.com that Mortgage Information Services considered spaces from one end of the Valley to the other. However, it soon became clear that the firm wanted to be centrally located. "Once we did our homework, it was pretty easy to narrow it down to the Opus buildings," he says. Mortgage Information Services will move into the building in the spring.

Built in 2003, Opus Cotton Center is a two-building complex totaling about 90,000 sf. Occupancy is 75% with the new deal. German represented Mortgage Information Services in the transaction while Steve Mardian, an SVP with Grubb & Ellis|BRE Commercial LLC bargained terms for Opus West.