Velocity Retail Group completed six transactions in February ranging in size from 3,850 SF to 25,740 SF. A summary of each transaction follows:
>> Goodwill of Central Arizona leased the 25,740 SF former Whole Foods building at the NEC of Lindsay and Warner in Gilbert. The sublessor, Whole Foods Market, Inc. was represented by Adam Madison at Cushman Wakefield. Goodwill was represented by Andy Kroot of Velocity. The store is expected to open in the 2Q of this year.
>> Velocity Retail’s Darren Pitts and Mountain West Retail’s Chad Moore and Jeff Harrison represented Mattress Firm in a 10-year, 5,234 SF store in Idaho Falls, Idaho. The store is located in the former TGIF restaurant building at 2625 S. 25th East in Ammon, Idaho. The store is expected to open in May of this year.
>> Andy Kroot of Velocity Retail completed a 14,400 SF, 10-year lease to Goodwill of Central Arizona in San Luis. The building is at 301 Piceno Dr. The owner of the shopping center is JO-AZ, LLC. The store is expected to open in 3Q 2013. This brings the total of Goodwill stores to more than 60 in Arizona.
>> Mattress Firm leased a 3,850 SF building at 7871 N. Oracle Rd. in Oro Valley in the Entrada del Oro Shopping Center. The tenant was represented by Darren Pitts of Velocity Retail. The landlord, Wright-Pantano, LLC was represented by Terry Dahlstrom of Volk Company. The store is expected to open in May of this year and will be the 12th store in the market.
>> Velocity Retail’s John Jackson, Nick Ault and Michael Clark represented the landlord of Bell Tower Plaza at the NWC of Bell Rd. and 63rd Ave. in Glendale in a 5-year, 8,108 SF transaction with Pawn 1st. The new store is expected to open in August of this year.
>> Mattress Firm finalized a 12-year lease for a 4,000 SF retail space at the NWC of Kino and Interstate 10 in Tucson in The Bridges shopping center. The Landlord, Tucson Retail, LLC is out of Boise, Idaho and was represented by Land Advisors Organization’s Randy Titzck and Chad Russell. Darren Pitts of Velocity represented the tenant in the transaction. The store is expected to open in 1Q 2014.
