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.
About Cushman & Wakefield
About PSCU Financial Services
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.