PHOENIX-D.R. Horton Inc., the nation’s largest homebuilder, will move its regional headquarters to the Deer Valley submarket from its current Scottsdale location. The Fort Worth-based company signed a two-year lease for 24,585 square feet of office space at Deer Valley Office Park, a two-building complex totaling 176,095 square feet.

“D.R. Horton is moving from a much bigger space – they’re downsizing by about 50%, and they’re moving from a more expensive submarket because they are trying to fiscally conservative,” says Ashley Brooks, a senior vice president with CBRE’s local office. “They signed a two-year deal because they wanted to be nimble so they could respond to market conditions.”

Brooks handled lease negotiations for CWCapital Asset Management in its capacity as special servicer for the class A office complex located at the northwest corner of 19th Avenue and the Loop 101. He partnered with Jim Bayless and Kelley Morrison, also with CBRE.