The new location in El Presido at 8700 E. Vista Bonita brings the lender's total number of branches to seven in the Phoenix metro. "This is a class A building that's about four years old, up in the Pinnacle Peak marketplace," explains Gordon Raguse, senior vice president with Grubb & Ellis/BRE Commercial's Phoenix offices, who represented the local building owner, Pinnacle Peak Gardens LLC. Granville Jenkins with Dallas-based Swearingen Realty Group LLC represented the tenant in the transaction.

"It was shell space," Raguse tells GlobeSt.com, "and the owner is building it out for them, in the amount of approximately $30 per sf." He adds that the location is ideal for a mortgage company. "It's in the Pinnacle Peak marketplace, which is a strong residential market," he says. "There are a lot of residential brokers in that area."