PHOENIX, Arizona – Hines, the international real estate firm, announced it has renewed a long-term 11,976-square-foot lease for the Greater Phoenix Economic Council (GPEC) at Renaissance Square in Phoenix.

GPEC, which has been in Renaissance Square since its inception, will continue occupying its space on the 25^th floor. The organization renewed an 8-year lease and is updating the office into a more modern and collaborative space.

Hines acquired Renaissance Square in 2008. The two-building office complex in downtown Phoenix is bounded by Adams, Central and Washington streets and 1^st Avenue, and has 968,790 combined square feet.

“Hines is thrilled to retain GPEC, a long-standing tenant that makes a significant impact in the community,” said Steve Hamel, Hines’ general property manager of Renaissance Square.

“The location of One Renaissance Square provides a centrally located office space for the various stakeholders from the private and public sector around the region to participate in the work that GPEC is undertaking, a factor that was incredibly important in the selection process,” said Chris Camacho, president & CEO of the Greater Phoenix Economic Council.

Pat Devine with Cushman & Wakefield represented the landlord. Andrew Cheney with Lee & Associates represented GPEC.

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.