New Mexico-Based Bank Leases 10,500 SF in Furst Properties’ Scottsdale Building

Bank 34 has leased 10,500 square feet of Class A office space at The Pinnacle in Kierland IV, a development of Furst Properties.

The location, 14850 N. Scottsdale Road, is the New Mexico-based bank’s fourth full-service banking center. Other branches are located in Peoria, Ariz., Alamogordo, N.M., and Las Cruces, N.M. The bank’s name reflects its founding date in 1934.

PIV Sunrise

The six-story, 200,000-square-foot Pinnacle in Kierland IV, gateway to the Kierland area, is located in a part of North Scottsdale with a concentration of financial services. Morgan Stanley is an anchor tenant in the nearly fully leased building. Other top-quality tenants include New York Life Insurance, Old Republic Title Holding Company, BMO Harris Bank and the Clark Hill law firm.

“Pinnacle in Kierland IV’s space availability was one of those ‘timing is everything’ opportunities for us to establish our Arizona base of operations in a manner to support our longer term growth plans,” said William Kauper, President of Bank 34.

Jim Watkins, Craig Coppola, Andrew Cheney and Gregg Kafka of Lee & Associates represented Furst Properties. Tom Boyle of Lee & Associates represented Bank 34.

“The Pinnacle in Kierland IV is the crown jewel of office properties in North Scottsdale,” Cheney said. “At 10,500 square feet, Bank 34 will have a larger footprint than other banks which typically lease 3,000-5,000 square feet in the area.”

In total, Furst Properties owns seven Class A office buildings in North Scottsdale. The 702,000-square-foot portfolio includes six buildings in the Kierland area and the Pinnacle in Perimeter Center building along the northeastern curve of Loop 101, near the TPC Scottsdale championship golf courses.

“Bank 34’s presence in North Scottsdale continues to expand the increasing selection of financial services available in the Kierland area,” said Austin Furst, president of Furst Properties.

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