Southwest Capital Bank Relocates to Clifford Plaza — Represented by Allen Sigmon’s Thomas Mortensen

Source: Albuquerque Business First

Original Article Link: Southwest Capital Bank to relocate downtown office to North I-25 - Albuquerque Business First

(All credit to Albuquerque Business First for reporting this story.)

Albuquerque Business First recently reported on Southwest Capital Bank’s upcoming relocation from downtown Albuquerque to the North I-25 corridor. We’re proud to share that Allen Sigmon Real Estate Group’s own Thomas Mortensen represented Southwest Capital Bank in securing its new office space.

The No. 20 largest bank in the state is relocating its downtown office operations to a location in the North Interstate 25 corridor to be closer to the business community.

Southwest Capital Bank is relocating its operations in the Simms Building at 400 Gold Ave. SW to the Clifford Plaza office complex at 4100 Osuna Rd. NE.

Its Simms Building operations include deposit operations, loan operations, the commercial lending team, human resources, audit functions and compliance functions.

The bank signed the lease for its 19,000-square-foot Clifford Plaza location in late October, and it will stage the relocation of its employees through December, January and February, Southwest Capital Bank CEO Chez Steel said.

Its Clifford Plaza location is about 3,000 square feet larger than its Simms Building location.

Thomas Mortensen of Allen Sigmon represented Southwest Capital Bank for its Clifford Plaza office space, and Jason Lott and Marguerite Haverly of CBRE represented the landlord, Mortensen said.

Southwest Capital Bank has a five-year lease with options for its Clifford Plaza office, and Steel declined to disclose the bank’s lease payment.

The bank is making the move to the North Interstate 25 corridor to align with its central New Mexico business strategy of focusing on business banking.

“We’re excited for the relocation, I think it puts us much closer to the business community,” Steel said. “I think geographically, it puts us in a much stronger economic area than where we are today, which I think reflects the tone and direction of Southwest Capital Bank.”

Southwest Capital Bank also has the first right of refusal on an about 2,000-square-foot space in the Clifford Plaza office complex.

The bank will apply for a new branch application and, should the 2,000-square-foot space be vacated, put a branch there, Steel said.

If it were to happen, public access to the new branch wouldn’t occur for about 18 months.

“That building is right on the corner of Jefferson and Osuna; it’s a great location for an office, and it works well for a branch too since it’s just right off Jefferson,” Mortensen said.