Author Archives: Dave Cheatham

Dave Cheatham

About Dave Cheatham

Dave Cheatham, president of Velocity Retail Group, is an accomplished authority on retail real estate in the disciplines of brokerage, project leasing, development, consulting and advisory services. He is a senior advisor to merchants, entrepreneurs, investors and senior retail executives throughout the industry.

Retail big boxes remain vacant after closures

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

The Phoenix retail big box market continues to hold back real improvement in shopping center vacancy. In the year-end 2015 National CoStar Retail Report, Phoenix ranked as having one of the worst retail vacancy rates in the U.S. Out of the 125 MSA’s the report tracks, Phoenix finished near the bottom ranking 123. With nearly… Read More →

Amazon offers Phoenix Prime customers free 2-hour delivery

amazon

Amazon recently launched a service in Phoenix that will bring shopping to a new level. Just as Amazon lead the way a few years ago with their Prime Service which provides 2-day shipping; Prime Now joins the menu as Amazon’s next revolutionary game-changer. Prime Now allows customers to receive their orders in a few hours… Read More →

Phoenix retail development makes a slow comeback

shopping

The retail land market in the Phoenix area is waking up from its nearly seven year dormancy. While sales and development for retail pads and in-fill parcels has been at an all-time high, the development of new shopping centers has remained at a stand-still – and with good reason. The housing boom and subsequent bust… Read More →

Mid-year Phoenix retail update

20150513_PhoenixGrowing_0051-Edit

Halfway through 2015 brings good news on the Phoenix retail front with vacancy and absorption continuing to improve. Current vacancy in Phoenix has reached single-digits for the first time in 15 quarters, it is now 9.9%. This is a 400 basis point improvement from the third quarter of 2011 when the vacancy rate was 14%.… Read More →

Phoenix retail is poised for progress

PowerPoint Presentation

The Phoenix commercial retail market continues to improve in vacancy and increased leasing activity.  Vacancy rates, once hovering near 14% have now dropped to 10.6% through the 2nd quarter of 2014.  Leasing activity of 2.6 million square feet in 2013 was the strongest recorded since before the Great Recession six years ago.  Additionally, in the… Read More →

ICSC RECon 2014: Retail poised for expansion

X Team booth, courtesy of Velocity Retail

The 2014 ICSC event in Las Vegas has successfully wrapped up, and initial reports are that the retail industry is poised for continued expansion. The attendance was up from last year with the attendee count reaching close to 40,000. Having experienced the last 5 years of our annual convention during the economic downturn, this year… Read More →

Velocity Retail Group takes flight with UAV technology

drone

For years Velocity has invested in cutting-edge technologies to service our clients and help them stay in front of the competition. Velocity is already known for delivering high-quality photography and video for our listings, tenants, and our events. Now UAV’s (unmanned aerial vehicles) will allow us to provide our clients a much different perspective than… Read More →

Safeway sale creates looming cloud over Phoenix retail real estate market

Shea Scottsdale Safeway

Over the past two years, the Phoenix retail real estate market continues to improve with lowered vacancy rates and strong absorption. The one area that persists as a cause for concern is the number of vacant big boxes in the market. With the recent announcement of the impending sale of Safeway to one or more… Read More →