PHOENIX, ARIZONA – NAI Horizon negotiated a long-term lease for a Planet Fitness at Queen Creek Fiesta, 21545 S. Ellsworth Loop Rd., in Queen Creek, Ariz.

The NAI retail properties team of Senior Vice President Chris Gerow, Senior Vice President Shelby Tworek, Vice President Gabe Ortega, and Retail Specialist Patrick Anthon represented both the landlord; Queen Creek Fiesta LLC of Scottsdale, Ariz.; and the tenant, PF Queen Creek City LLC of Sedona, Ariz., in the transaction totaling $2.517 million.

“Planet Fitness is excited to expand into Queen Creek, and feel it is an under-served market,” Gerow said “They are expected to open late second quarter next year.”

The same NAI Horizon retail team in July negotiated a long-term lease totaling $3.417 million for a Planet Fitness in Maricopa, Ariz. NAI Horizon represented the tenant, PF Maricopa City LLC, in that deal.

SCOTTSDALE, AZ  – Longtime Valley restaurant operator, Loco Patrõn, has leased the former Salty Senorita building on Northsight Boulevard for a new Loco Patrõn Mexican Brewery. The area is bustling with new restaurants, retailers and multifamily development. A luxury 297-unit apartment building is being constructed directly behind the Loco North building, along with the popular breakfast and weekend brunch restaurant, Butters, which recently opened its doors across the way. Existing national tenants in the immediate area include Costco, Walmart Supercenter, Sam’s Club, Home Depot, and more.

Owners Ryan Vertuca, Josh Levine and Jeremy Jazwinski are looking forward to the new expansion. “We are very excited to bring a Mexican Brewery to North Scottsdale Airpark. We have been looking for the right location for the past three years to deliver our newest concept, and believe we have found a great building and neighborhood,” Vertuca said. “Renovations are underway. First on the list is to almost double the size of the current patio. The new patio will have a “backyard feel” to it,” continued Vertuca.

Judi Butterworth, Senior Vice President of ORION Investment Real Estate, facilitated the lease. Butterworth noted, “Loco Patrõn has an excellent reputation for great food and fun. They are joining a stellar list of popular nearby restaurants, like O.S.H.O and Four Peaks Brewery.”

The new location is anticipated to open in January of 2017.

The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from September 6 thru 9, 2016

RETAIL – 7565 W. PEORIA AVE., PEORIA
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon with NAI Horizon represented the tenant, Planet Fitness, in a 132-month retail lease for a 23,236-square-feet of space at 7565 W. Peoria, AZ 85345. Scott Smith with Capital Asset Management represented the landlord, New Generation Development Group of Arizona, LLC.

OFFICE – 2355 E. CAMELBACK RD., PHOENIX
The Money Source has subleased approximately 20,000-square-feet of Class A office space at 2355 E. Camelback Rd.  This marks the company’s second office lease in Phoenix during 2016. “The Money Source is committed to attracting and retaining the best employees in the Valley and plans to hire approximately 450 employees this year in Metro Phoenix,” says Greg Hopley, executive vice president with Colliers International in Greater Phoenix.  “The prestigious 24th & Camelback location offered them the ideal site to attract the best financial, mortgage-minded workers in the metro area.” Hopley represented The Money Source in the lease negotiations.  Tim Whittemore of Cushman & Wakefield represented the sublessor, Jacobs Engineering.  The building is owned by Teachers Insurance and Annuity Association of America.  The Money Source, a New York and San Francisco based company, is one of the fastest growing and largest privately held mortgage companies in the United States.  The firm leased space in Tempe earlier this year and has already hired almost 200 employees.  The Money Source’s continued growth in Arizona led to the Camelback Corridor lease.  “This presented an excellent subleasing opportunity for The Money Source,” says Hopley.  “The company has a lengthy remainder on the lease term and plans to hire approximately 250 additional employees with this additional office.”  The Money Source took occupancy of the space this month. The leased space is located on the 7th floor of the Class A office building on the southwest corner of 24th Street and Camelback Road.  Built in 2001, the Class A building is conveniently located across the street from Biltmore Fashion Park and the newly opened Camby Hotel.  The Money Source was attracted to the fact that this location was just minutes from Sky Harbor International Airport, Interstate 51 and Downtown Phoenix.  Located in the heart of the prestigious Camelback Corridor, the building is part of a submarket that is home to more than 8.7 million square feet of commercial space and approximately 35,000 office jobs.

OFFICE – 10631 S. 51^st ST., PHOENIX
Andrew Veatch and Troy Giammarco with NAI Horizon represented the tenant, Cholla Medical Group, Inc., in a 52-month office lease for a 6,264-sqaure-foot space at 10631 S. 51st St., Phoenix, AZ 85044. Richard Burton with Realty Arizona Elite Group represented the landlord, Wilson Properties, LLC.

INDUSTRIAL – 3919-3925 E. MIAMI, PHOENIX
Isy Sonabend with NAI Horizon represented both tenant and landlord, Vanco, LLC and PAZ Holdings, LLC in a 60-month industrial lease for a 5,354 -square-foot space at 3919-3925 E. Miami, Phoenix, AZ 85040

RETAIL – 2131 E. CAMELBACK RD., PHOENIX
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon with NAI Horizon represented the tenant, Ken’s Nails-Salon & Spa, in an 88-month retail lease for a 2,300-sqaure-foot space at 2131 E. Camelback Rd., Phoenix, AZ 85016.

OFFICE – 4150 W. PEORIA AVE., PHOENIX
Nathan Pancrazi and Troy Giammarco with NAI Horizon represented the tenant, Arizona Life Chiropractic, in a 65-month office lease for a 2,298-square-feet of space at 4150 W. Peoria Ave., Phoenix, AZ 85029. The landlord, Tlaquepaque Office Plaza, Inc., was self-represented.

OFFICE – 4200 N. MARSHALL WAY, SCOTTSDALE
Laurel Lewis of NAI Horizon represented the tenant, Atwell Group, in a 38-month office lease for a 2,250-square-foot space at 4200 N. Marshall Way, Scottsdale, AZ.