Printer Friendly Version
Nation's Largest Credit Union Service Company Purchases Acxiom Building for $25.4 Million
1 Oct, 2008, Phoenix, AZ
PSCU Financial Services, the nation's largest credit union service organization (CUSO) has
purchased the Acxiom Building at 19825 N. 7th St. for $25,400,000.
PSCU Financial Services, Inc. of St. Petersburg, FL purchased the two-story office building from a partnership of Arkansas-based Acxiom Interim Holdings, Inc. and Acxiom Corporation of Delaware. PSCU currently houses its Western operations center at 2411 W. Peoria Ave. in Phoenix. The company occupies approximately 50,000 square feet and is in need of larger space.
The Acxiom building, which was built in 2001, contains approximately 97,372 square feet of office space set on 17.51 acres. Situated at the southeast corner of 7th Street and the Loop 101 freeway, the property offers strong visibility and convenience opportunities to the PSCU Financial Services firm. Plans call for PSCU to relocate from its Peoria Avenue space in November. Acxiom has already vacated the building. This marks a significant expansion opportunity for PSCU in the Phoenix marketplace, as the existing building allows for future growth to approximately 600 employees. In addition, the vacant acreage adjacent to the building can accommodate a structure of approximately 150,000 square feet. While the firm has no immediate plans for enlarging its staff, the company maintains a plan for slow and steady employment growth.
"PSCU's growing need for space in this market led the firm to consider purchase of a building," according to Blaine Black, senior director with Cushman & Wakefield of Arizona, Inc. "This building was not for sale at the time we identified it, but our research indicated the property might be a good fit for PSCU. The square footage of the building, which includes an 8,000-square-foot data center, was ideal for the company's needs. In addition, the property includes approximately 10 vacant acres of land that offer opportunity for future growth and construction of a second building on the site."
Blaine Black and Brian Black of Cushman & Wakefield represented PSCU in its acquisition of the property. Barry Rosensteel of PRIN Investments Real Estate Group represented Acxiom in the sale.
XXX
About Cushman & Wakefield
Cushman & Wakefield is the world's largest privately held commercial real estate services
firm. Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees. The
firm represents a diverse customer base ranging from small businesses to Fortune 500 companies.
It offers a complete range of services within four primary disciplines: Transaction Services,
including tenant and landlord representation in office, industrial and retail real estate;
Capital Markets, including property sales, investment management, valuation services,
investment banking, debt and equity financing; Client Solutions, including integrated real
estate strategies for large corporations and property owners, and Consulting Services,
including business and real estate consulting. A recognized leader in global real estate
research, the firm publishes a broad array of proprietary reports available on its online
Knowledge Center at www.cushmanwakefield.com.
About PSCU Financial Services
Based in St. Petersburg, Florida, PSCU Financial Services is the nation's largest credit union
service organization (CUSO) and serves more than 1,100 financial institutions nationwide. As a
non-profit cooperative, the company is owned by more than 500 member credit unions representing
over 11 million cardholder accounts and more than 700,000 online bill payment subscribers. Its
Contact Center handles more than 14 million inquiries a year.
PSCU Financial Services maintains an Eastern operations center in St. Petersburg, Florida, and a Western operations center based in Phoenix, Arizona. The cooperative's wholly owned subsidiary, Digital Dialogue, operates two 24/7 call centers in Detroit, Mich., that specialize in member services, new member acquisition, cross-selling and automated lending solutions.
Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, prepaid, bill payment and contact center solutions. PSCU Financial Services uniquely offers its members a full range of processing options, any combination from full service to in-house pass through processing for credit, debit and ATM transactions. As a leader in the credit union movement, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit PSCU Financial Services' website at www.pscufs.com.
Media Contact:
Robin Vitols
602.957.8844
back to real estate News & Events
|