Law Firm to Relocate to Downtown Phoenix
- Jun 15, 2017
Cantor Law Group, through JLL, has completed a 24,233-square-foot lease at Renaissance Square in downtown Phoenix. The law firm is set to relocate from CityScape next May. JLL’s John Pierson, managing director, Trevor Pratt, vice president, and Jenna Borcherding, associate, represented the tenant in its site selection and lease negotiations. Lee & Associates’ Bill Blake negotiated the transaction on behalf of the owner, a venture between Cypress Office Properties and funds managed by Oaktree Capital Management.
In April, Cypress and Oaktree initiated a $10 million, Phase I renovation of the 970,000-square-foot property, located at 40 N. Central Ave. The upgrades will focus on the lobbies, elevators and restrooms, as well as on the construction of a new 7,000-square-foot multi-purpose conference facility. The renovations are part of a larger $50 million overhaul that will include upgrades to the on-site gym and the addition of new retail amenities.
“Plans to modernize and renovate Renaissance Square were critical in Cantor’s decision to relocate,” John Pierson said in a prepared statement. “The new space will be designed in a way that improves efficiency and functionality, and allows for the future growth of the firm.”
The new lease comes a few months after Upgrade Inc., a financial tech company, leased 38,000-square-foot of office space on the ninth and 10th floors in the first building of the two-tower complex.
Image courtesy of JLL