Alaska-Based Credit Union Snaps Up Long-Vacant Glendale Office Building
Alaska USA Federal Credit Union acquired the 185K SF 5551 West Talavi Blvd., a two-story office building that housed Honeywell Inc., but which has been vacant for about nine years. The Anchorage-based credit union paid about $17M for the property, the Phoenix Business Journal reports.
This is not the first acquisition for Alaska USA in metro Phoenix, all of which have been around Bell Road and 55th Avenue. Six years ago, it bought 20 undeveloped acres for $20M, and more recently, a 22,500 SF property it will use as a data center. Last year, the credit union opened its first branch adjacent to the data center.
Eventually, Alaska USA will move employees into the Glendale office building, though it has no timetable for the move yet. The credit union has more than 600,000 members, with half of those outside Alaska, so it also has offices in Arizona, California and Washington state. About 11,000 members live in Arizona.
