Velocity Retail Group, LLC has released a summary of their recent retail transactions including:
Velocity Retail Group’s Darren Pitts, Michael Clark and John Jackson sold a 50,684 square foot former Fry’s grocery store located at 825 W. University Drive in Mesa, Arizona. The building was sold to Geyser Management, LLC for $950,000, who is putting Planet Fitness in the building. Shelby Tworek from NAI Horizon represented the Buyer. This is one of two other disposition projects that Velocity is handling on behalf of Fry’s.
Andy Kroot at Velocity represented Goodwill Industries of Central Arizona, Inc. on a 28,880 square foot lease at Riveria Plaza and the northwest corner of University and Gilbert Road in Mesa. The Landlord was 1900 Univ AZ, LLC.
Mega Furniture USA leased a 35,000 square foot location at Gateway Pavilions at the northwest corner of McDowell Road and 99th Avenue in Avondale. Dave Cheatham of Velocity Retail represented the tenant in the transaction. This will be Mega Furniture’s eleventh location in Phoenix as they enter their 12th year in business. The store is expected to open in the next quarter.
Michael Clark and Darren Pitts represented Mattress Firm in a 7,000 square foot location at Emerald Center, at the northeast corner of Warner and Interstate 10 in Tempe. The landlord is Emerald I-10, LLC. The store is expected to open in the first quarter of 2016.
Brian Gast represented Desert Troon Properties in a 2,537 square foot lease to MOD Pizza at Superstition Gateway West at the southwest corner of US 60 and Signal Butte in Mesa. The tenant was represented by Phoenix Commercial Advisors and is expected to open in the 3rd quarter of 2015.
The parent company for Smart Gym, Blu Phoenix, LLC worked with Larry Miller and John Jackson on their new corporate headquarters location at Paradise Valley Corporate Center, 4835 E. Cactus Road. This is the first corporate office for the company, and the 2,092 square foot location opened in March.
Michael Clark, John Jackson and Nick Ault from Velocity Retail represented the Landlord, Northsight Scottsdale Crossing, LLC in a 3,200 square foot transaction for The Sliding Door Company at the northeast corner of Raintree and Northsight in Scottsdale. The tenant was represented by Jim Lieberthal of Cutler Commercial and is expected to open in the third quarter of 2015. This will be the company’s first location in Arizona.
Judi Butterworth from Velocity represented Firehouse Subs in a new 2,400 square foot store at the northeast corner of Acoma and Scottsdale Road in Scottsdale. This site marks the sixth location for this operator who handles the markets of Scottsdale, Fountain Hills and Prescott. The building is an adaptive reuse of an existing flex building. The landlord was represented by Chris Hollenbeck at DTZ.
Darren Pitts and Michael Clark represented Mattress Firm on a 10-year 3,500 square foot location at the southeast corner of Pinnacle Peak Road and Scottsdale Road in the Silverstone Marketplace. The landlord, Eisenberg Companies was represented by Ryan Amato. The new store is slated to open in May of this year.
Velocity Retail Group’s Larry Miller and John Jackson represented the landlord, Greenway Park Plaza LLC on a 1,200 square foot lease to Boost Mobile. The new store will be the fifth location for this operator and is located at the northeast corner of Greenway Road and 32nd Street in Phoenix. The store opened at the end of March.
Mattress Firm signed a 3,800 square foot lease at the northeast corner of U.S. 60 and Alma School Road in Mesa. Velocity’s Darren Pitts and Michael Clark represented the Tenant in the 10-year transaction. The landlord, STR Fund X, LLC was represented by Phoenix Commercial Advisors, Chuck Wells. The store is expected to open in July of this year.
The Hen House Cafe will be occupying 2,434 square feet at the northeast corner of Pecos and Lindsay at the Shops and Spectrum Village. This will be the second location for this popular downtown Gilbert restaurant. Brian Gast of Velocity Retail represented the landlord in the transaction. TJ Zaharis at Cobe Real Estate represented the Tenant, which is expected to open in the 2nd quarter of this year.
Edward Jones Investments was represented by Velocity’s Larry Miller and John Jackson on a 1,630 location at 49 W. Main Street in Mesa, AZ. Edward Jones continues to re-position their locations throughout the Phoenix area with the Miller / Jackson team. This particular location was relocated from an office building to this historic and newly remodeled building in downtown Mesa.
