Tag Archives: Trent Rustan

Hewson Dover Business Park, CPI, WEB

CPI sells Hewson Dover Business Park in Mesa

Commercial Properties, Inc. announced the sale of Hewson Dover Business Park.  Tyson Breinholt, Trent Rustan and Josh Gosnell of CPI’s Tempe Office & Retail Group represented the seller in this transaction.

The 11,424 SF, class-B office building is located at 4344 E. Presidio Street in Mesa on the NW corner of Greenfield Road and Presidio Street.  The property offers close proximity to the Loop 202 and is just north of Falcon Field Municipal Airport.

Rustan commented, “cross-marketing and re-use of space was the key to getting a $1M building sale in Mesa. During the bull market, everything was going fine. The building was built in the most unlikely of locations, but it was a build-to-suit. A 11,000 SF full service spa was built next to Falcon Field in Mesa. Fully built out with hair salon, nail stations, massage room, showers, lockers and a beverage counter – everything the tenant could deliver to take advantage of all of the prosperity and new growth in North Mesa and Gold Canyon, but they never got the chance. The real estate crash of 2008 put a quick end to that business plan — and the building sat vacant ever since.”

4344 E Presidio Street is a 100 percent leased, multi-tenant, class-B office building which was built in 2005 and formerly owned by Fisher Holding Company LLC.

Gosnell said, “since we were unlikely to find another 11,000 SF day spa to take this building, we had to think outside the box and market the building to different types of users – office, industrial, medical.”

Breinholt added, “A doctor has purchased the building with the intention of retrofitting the building into his medical practice, which will operate out of the property. This is a use that really makes sense. The doctor is able to use the existing structure and much of the interior rooms, but retro fit the interior for their own unique use. It was a win-win.”

Velocity Retail, WEB

Velocity Retail Group reports recent transactions

Below is a summary of Velocity Retail Group, LLC recently completed transactions:

Goodwill Industries will be opening a new retail store at the southwest corner of Arizona Avenue and Riggs Road in Candler, Ariz.  Andy Kroot of Velocity Retail Group negotiated the ten-year lease of 27,600 SF on behalf of the tenant. The landlord, Greenway 32, LLC, was represented by Bob Rusing of Arizona Partners Retail.

Velocity Retail Group represented Tokyo Joe’s in a ten-year lease of 2,500 SFnorth of the northeast corner of Baseline Road and Val Vista Drive in Gilbert, Ariz. The landlord was represented by Trent Rustan of Commercial Properties.  A second Tokyo Joe’s was also signed at Chandler Pavilions at the southeast corner of Ray Road and Interstate 10 in Chandler.  The 2500 SF store will be opening in the former Barbeques Galore space during the 3rd quarter.  The landlord was represented by Cliff Johnston of Cassidy Turley BRE.

Integrity Staffing leased a 6,005 SF free-standing building at the Agua Fria Towne Center, located at the northeast corner of Camelback Road and Loop 101 in Glendale, AZ. Velocity Retail Group’s Judi Butterworth, Nick Ault, and Michael Clark represented the landlord. The tenant was represented by Michael Prochelo of Financial Management Group.

Nick Ault of Velocity Retail Group represented Yummi Sushi in a three-year lease of 3,797 SF at the northeast corner of Thunderbird Road and 32nd Street in Phoenix.  The landlord was represented by Reuel Couch of The Restaurant Brokers.

Representing the landlord at the Sun Village Fair Shopping Center at the NEC of Warner Road and Alma School Road in Chandler, Ariz., Michael Clark, John Jackson, and Larry Miller of Velocity Retail Group leased a 1,507 SF space to Third Party MVS Services on a five year lease. Sun Village Fair is one of eleven valley centers that Velocity Retail Group represents for owner NorthStar Realty Finance Corp.

Denny’s Restaurants was represented by Andy Kroot of Velocity Retail in the 10-year least of 5,695 SF at the NWC of I-17 and Dunlap Avenue, in Phoenix. The Winco/Conn’s Shopping Center was represented by Gordon Keig of Kornwasser Properties.

Larry Miller and John Jackson of Velocity Retail represented Edward Jones Investments in the five year lease of 1,100 SF at Lindsay Groves on the SWC of Lindsay Road and Germann Road in Gilbert, Ariz. The landlord was represented by Matt Zaccardi of CPI. Edward Jones Investments plans to relocate their Gilbert office to the new location in October of this year.

Miller and Jackson also represented The Sherwin Williams Company in the ten year lease of 4,000 square feet West of the Southwest corner of Happy Valley Road and 19th Avenue in Phoenix, AZ. The landlord, Happy Valley Towne Court, was represented by Jerry Roberts of NNN Amercia. The lease represents the first of several stores Sherwin Williams plans to open in 2015, as they expand their North Phoenix footprint.

Westfest LLC, owners of Desert Sky Festival located at the southeast corner of Thomas Road and 75th Avenue recently completed a 3-year lease with CFC financial for a 1200 square foot space.  Judi Butterworth from Velocity Retail, and Paul Serafin of De Rito Partners co-listed the project and negotiated on behalf of the Landlord.

Darren Pitts of Velocity represented Uptown Cheapskate in a five-year lease of 4056 square feet at Chandler Gateway shopping center located at the northeast corner of Chandler Boulevard and Chandler Village Parkway.  The landlord is Chandler Gateway SPE, LLC.  The retailer is a sister company of Kid to Kid, and will focus on teen and tween resale and new clothing and accessories.  The store is planning to open by 3rd quarter of this year.

PHX-Karting,-CPIweb

CPI Leases Location for 94,500 SF Scale Racing Sports

Commercial Properties Incorporated (CPI) recently announced the lease of a 94,500 SF, former Big K-Mart location at the Greenway Shopping Center in northwest Phoenix.

Josh Gosnell and Trent Rustan of CPI’s Retail Team represented the tenant, Scale Racing Sports, LLC, in the lease of 3401 W. Greenway Rd. in Phoenix, on the corner of 35th Avenue & Greenway Road.

“Scale Racing Sports, LLC is opening a HobbyTown USA flagship store here in Arizona and plans to open several more in the U.S.  They expect to hire approximately 40-50 employees that will work throughout the indoor electric kart racing, the remote control racing track, and a 10,000 SF retail store within the facility,” Gosnell commented.

HobbyTown/Racers Edge is expected to open in Phoenix in January of 2014.  With over 150 franchised stores throughout the United States, HobbyTown USA is known as the world’s largest retail hobby chain.

Josh Gosnell is representing HobbyTown USA in Arizona, Texas, Nevada and Colorado with this concept.