retail Archives

Arcadia Village Shopping Center sells for $19.65M

Arcadia Village Shopping Center
by in AZRE Magazine | Retail

Cushman & Wakefield announced Tuesday the purchase of Arcadia Village Shopping Center, a CVS pharmacy-anchored, retail center located on the southwest corner of Camelback Road and 40th Street for $19.65 million. The shopping center is located in Phoenix’s Arcadia neighborhood. Cushman & Wakefield Executive Managing Directors Ryan Schubert and Michael Hackett represented the seller, Arcadia Retail, LLC. “Arcadia… Read More →

Entrepreneur ditches storefront for something mobile

The overthrow van (Photo: Andrew Howell)

Andrew Reid found that the T-shirts he wore never fit right and wanted a better fitting tee, so he decided to create his own. Overthrow Clothing is a West Coast lifestyle mobile retail company specializing in skateboarding and snowboarding attire – a business venture inspired by Reid, Overthrow’s creator, having a love of snapback style… Read More →

Crowds expected for Spring Chalk Art Festival

A child looking drawing with chalk at the Chalk Art Festival

On April 30, the sidewalks of Westgate Entertainment District, Desert Ridge Marketplace and Tempe Marketplace will be transformed into spectacular outdoor galleries as crowds gather to watch the incredible chalk artwork unfold before their eyes at the third annual Spring Chalk Art Festival. During the free event from 11 a.m. until 6 p.m., a group… Read More →

HFF finances Mesa shopping center for $6.3M

finance
by in AZRE Magazine | Retail

Holliday Fenoglio Fowler, L.P. (HFF) announced Monday that it has arranged $6.3 million in acquisition financing for Marketplace at Signal Butte, a 116,358-square-foot, grocery-anchored community shopping center in east Mesa. HFF worked on behalf of the borrower, Progression REI, to place the 10-year, fixed-rate loan with Wells Fargo Bank. Anchored by a Bashas’ Grocery Store, Marketplace at Signal… Read More →

PICOR announces Tucson leases

123rf.com: Vitaliy Vodolazskyy
by in AZRE Magazine | Brokerage | Industrial | Retail

PICOR, a Cushman & Wakefield member, announced a string of recent leases that have closed in the Tucson area, including industrial and retail leases. R & G Food Services, Inc. leased 7,383 square feet in the Coach Drive Industrial Building at 4560 S. Coach Dr., Suite 100, in Tucson from Coach Holdings, LLC.  Rob Glaser, SIOR,… Read More →

CBRE team completes $13.8M Mill Ave. sale

Mill Avenue
by in AZRE Magazine | Brokerage | Retail

A two-property portfolio which takes up two corners of Mill Avenue and 5th Street in Tempe sold for $13.8 million. The properties were approximately 79 percent occupied at the time of sale. CBRE Executive Vice President Philip D. Voorhees and Vice President Brad Rable made the announcement that the National Retail Investment Group – West (NRIG-West),… Read More →

Phoenix-Based Vestar pays $31.4M for Seattle retail center

Vestar
by in AZRE Magazine | Retail

Phoenix-based commercial real estate firm, Vestar, purchased James Center, a retail center in Tacoma, Washington, for $31.4 million. James Center is located at 6901 S. 19th St. in western Tacoma and is directly across from Tacoma Community College, which enrolls nearly 14,000 students per year. The center totals 140,240 square-feet and is situated on 15.95 acres.… Read More →

CVS leased NNN Investment Property sold

Photo: stylephotographs / 123RF Stock Photo
by in AZRE Magazine | Retail

ORION Investment Real Estate announced the sale of an NNN Investment property leased to CVS, near Ellsworth and Broadway Roads, for $3,375,000. The property was sold by SCP 2004E-014, LLC and purchased by JKB Properties, LLC. “This is one of a few properties I am assisting my client in the acquisition to perfect his 1031 Exchange.… Read More →

LevRose goes broker-owned, adds retail team

123rf.com:  Jakub Jirsak

LevRose Commercial Real Estate recently made significant changes to the firm’s ownership model and service areas to prepare for major growth and expansion in 2016. LevRose partners Jon Rosenberg and Robert Levine recently changed to a broker-owned structure in order to create a more sustainable firm. The new model is designed to encompass an elite team of brokers… Read More →

Velocity negotiates location for La-Z-Boy of Arizona

Sold Sign
by in AZRE Magazine | Retail

Velocity Retail Group‘s Darren Pitts and Bob Crum of Ross Brown Partners represented La-Z-Boy Furniture Galleries of Arizona, in the purchase of a 1.65 acre parcel at 5584 E. State Route 69, in Prescott Valley. Located in the Crossroads Shopping Center in Prescott Valley, this will be the furniture retailer’s newest location in Northern Arizona.… Read More →

Velocity Retail Group promotes Michael Clark to SVP

Debra Schooler
by in AZRE Magazine | Newsmakers

Velocity Retail Group LLC promoted Michael Clark to senior vice president. With nearly 18 years of experience working with prominent national clients, Clark built a track record negotiating transactions for investment properties while also representing landlord’s and tenant’s. Over the past decade Clark has worked with national shopping center owners such as NorthStar Realty Finance Corp., Evergreen… Read More →

Apache road retail project approved for construction

construction industry
by in AZRE Magazine | Construction | Retail

Davis Enterprises – Investments & Development received approval from the City of Tempe to begin construction on a retail project at the northeast corner of Rural Road and Lemon Street in Tempe. Located in a high-density area of the city, the 11,800 square-foot project will feature storefront opportunities for 4-5 restaurant or retail users, with Rural Road frontage.… Read More →

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 →

Historic Welnick Marketplace shaped into reuse project

After the original Welnick Bros. Marketplace closed in 1951, the building functioned as covered parking for businesses in the adjacent building, an auto repair shop and warehouse. (Photo courtesy of Joyce Reiff)
by in AZRE Magazine | Construction

The historic Welnick Bros. Marketplace building in downtown Phoenix has sat vacant for the past decade. But now, developers plan to restore it as an adaptive reuse project with restaurant, retail and entertainment space. Brothers Leo and Ed Welnick built Welnick Bros. Marketplace near Van Buren Street and Fourth Avenue in 1927. They operated a… Read More →