Velocity Retail Group completed nine transactions in June. A summary of each transaction:
>> Velocity Retail’s Larry Miller and Jim Edwards represented the Landlord, Pacific West Land in a 10-year transaction for Urgent Cares of America Holdings, LLC (dba, Fast Med) at Corona del Sol shopping center at the SEC of Ray and Rural roads in Chandler. The tenant will be occupying 5,000 SF of space. Terry Martin-Denning of NAI Horizon and Patrick Wathen, of Equity, Inc. represented the tenant. The store is expected to open in August.
>> John Jackson, Nick Ault and Michael Clark represented the Landlord of Bell Tower Plaza, LLC at the NWC of Bell Rd. and 63rd Ave. in Glendale in a, 8,100 SF, 5-year transaction for Pawn 1st. Additionally, Arizona Iron Furniture is expanding their existing store in the same shopping center. This tenant signed a 3-year additional lease term for 3,125 SF. Jackson, Ault, and Clark also represented the tenant in this transaction. Both stores are expected to open in July.
>> Togo’s is opening its second store in Metro Phoenix with a 5-year, 1,190 SF store at Warner Ranch, 9920 S. Rural Rd. Tempe. Andy Kroot of Velocity Retail represented the Tenant. Joe Doucett of GDCRE represented the Landlord, Sy Warner Ranch, LLC. The store is expected to open in 3Q 2013.
>> Michael Clark, John Jackson and Nick Ault of Velocity represented West Valley Properties in negotiating a new 7,476 SF lease for Full Circle Gym at Cobblestone Village at the SWC of Warner Rd. and McClintock Dr. in Tempe. Patricia Wodrich of Preserve Property Management represented the tenant. The new store is expected to open in August.
>> Velocity Retail’s Darren Pitts and Dave Cheatham and Nate Ballard of Wadsworth Development Group represented the seller, Wadsworth Accelerated Ventures – Logan, LLC in an 10,851 SF sale of a 100% leased building at 1145 N. Main St., Logan, Utah. Mattress Firm recently leased the building from the ownership group. Jon White was the Buyer, who paid $2.25M for the asset which closed June 5. The buyer was represented by Ryan Reeves and Trevor Kyle of Newmark Merrell in Utah.
>> Early Learning Language & Arts leased a 5,012 SF space at Foothills Park Plaza shopping center at the SWC of Chandler Blvd. and Desert Foothills Parkway in Phoenix. The landlord, Pacific West Land, was represented by Velocity Retail’s John Jackson, Nick Ault and Michael Clark. This is the first location for E.L.L.A. center in Ahwatukee, the new store is opening this month. In the same shopping center, the listing team also finalized a 5-year 1,800 SF foot transaction for Perfect Pear Nature’s Bistro. The new restaurant will be opening in August.
>> Mattress Firm leased a 3,497 SF building from Madison Development at 6965 N. Glenwood St. in Garden City, Idaho. Both parties were represented by Chad Moore and Jeff Harrison of Mountain West Retail in Utah, and Darren Pitts, Michael Clark, and Nick Ault of Velocity Retail.
