Tag Archives: wal-mart


CBRE completes $4.1M sale of Greenbrook apartments

CBRE has completed the sale of Greenbrook, an 80-unit multifamily apartment complex located at 3536 E. Cambridge Avenue in Phoenix. The property was sold for $4.1 million, or $52,188 per unit.

Greenbrook B and L LLC of Tustin, California purchased the property from Greenbrook Apartments LLC of Incline Village, Nevada. Brian Smuckler and Jeff Seaman of CBRE, senior vice president and first vice president respectively, brokered the transaction.

“The East Phoenix vacancy rate is currently under 6 percent and rental rates have increased nearly 12 percent year-over-year. After 17 years of continuous ownership, Greenbrook is a prime reposition opportunity,” said CBRE’s Smuckler. “New ownership plans to complete strategic exterior and interior renovations to rebrand the community and take advantage of the strength of the submarket.”

Built in 1974, Greenbrook is a two-story apartment community situated on over 3.15 acres with excellent street frontage on 36th Street. The property is comprised of one-bedroom/one bath and two-bedroom/two-bath floorplans that average 780 and 1,000 square feet, respectively. The property is located just south of Thomas Road less than a mile from the Desert Palms retail center, whose tenants include Home Depot, Wal-Mart, Staples, and a Harkins Theatre.

At Home StoreFront

Velocity Retail signs 110,850 SF lease for At Home

Velocity Retail Group has finalized a lease agreement with At Home to open a new location in Prescott, Arizona.  At Home will occupy the 110,850 square foot former Wal-Mart building; which is located at 1801 Highway 69 in Prescott, Arizona. The Landlord is the Yavapai-Prescott Indian Tribe. This will be the first At Home location to open in Arizona outside of the Phoenix metro area.  Velocity’s executive vice president, Darren Pitts represented At Home in this transaction.  “At Home is a new retailer to the Prescott market and a great addition in the shopping center.  The store will be a catalyst in bringing additional shopping traffic to the center,” said Pitts. The store is projected to open the first quarter of 2016.

The home décor superstore has trusted Velocity Retail Group to represent them in the opening of multiple new locations across the southwest.  At Home, based in Plano, Texas and Velocity Retail Group will continue to look for new opportunities to expand this successful brand into various markets.

energy policies

SRP Surpasses Energy Efficiency Goals

Salt River Project exceeded its annual goal of helping residential and commercial customers save energy and money through the utility’s Energy Efficiency programs and initiatives.

Last year, SRP’s Energy Efficiency programs for both residential and commercial customers provided annual energy savings equal to 2.3 percent of SRP’s retail energy sales that resulted in a savings of 640 million kilowatt hours, which is equivalent to powering about 35,000 homes for one year.

The largest savings came from the Retail Lighting Program, which offered customers discounted prices on LED and CFL light bulbs from retailers such as Home Depot, Wal-Mart and Sam’s Club. SRP works with retailers and manufacturers to offer reduced prices, which drove annual customer purchases to nearly 2.7 million bulbs.

“The SRP energy-efficiency programs have experienced tremendous customer participation,” said Dan Dreiling, SRP director of Market Research and Customer Programs. “Not only do our customers expect us to provide ways to save, but they are also pleased with the programs we offer and continue to support them.”

Strong participation in the Energy-Efficient Pool Pump Program, Appliance Recycling and ENERGY STAR Homes also helped exceed program goals, he said.

Residential customers also increased their comfort and savings by taking advantage of comprehensive home assessments and rebates for services and products such as home duct repair and window shade screens as well as energy-efficient air conditioners and heat pumps.

Residential customers Steve and Lori Bold of Phoenix took advantage of SRP’s energy efficiency rebate programs when they sealed their attic and duct systems, replaced their two aging heat pumps with high-efficiency units, added new insulation and installed shade screens on the windows.

“As a result of the improvements, we reduced monthly energy use by more than 22 percent,” Steven Bold said. “The online advice and rebates offered by SRP helped to move the projects along and kept our costs down significantly.”

SRP takes an overarching approach to managing its resources in a way that balances reliability, affordability and environmental stewardship. This balance helps ensure the long-term performance of the grid while managing customers’ costs.

“In a dynamic era of changing resource and emissions requirements, these programs will play a pivotal role in cost-effectively meeting customers’ needs while also helping to optimize resources and protect the environment,” Dreiling said.

The vast majority of commercial energy savings was derived from enhanced lighting rebates through Standard Business Solutions, large commercial and industry energy-efficiency projects through Custom Business Solutions and lighting retrofit projects under the Small Business Solutions program.

Fry’s Food Stores participated in the SRP Business Solutions rebate programs to implement 50 projects in 30 metropolitan Phoenix stores. So far, Fry’s has realized about 1.2 million kilowatt-hours per year in energy savings.

“SRP rebate programs help Fry’s continue to reduce our carbon footprint, which is good for the environment as well as our bottom line,” said Ben Tan, energy manager of Fry’s Food Stores Facilities Engineering.

The SRP Board has set a goal to meet 20 percent of SRP’s retail electricity requirements through sustainable resources by the year 2020. Currently, SRP is ahead of schedule – providing about 12.8 percent of retail energy needs with sustainable resources, including wind, geothermal, solar, landfill gas, biomass and hydropower as well as energy-efficiency programs.

SRP is the largest provider of electricity in the greater Phoenix metropolitan area, serving about 990,000 customers.


Walmart Neighborhood Market to anchor Marketplace at Central

Marketplace at Central announced that Walmart Neighborhood Market will become its anchor tenant, opening a 43,619-square-foot location for June. Marketplace at Central is located at the Southeast corner of Central and Dunlap Avenues on 111 E. Dunlap Ave. Phoenix, AZ.

Whitestone focuses on value creation in its centers, creating communities within their properties. “The addition of Walmart Neighborhood Market rounds out Marketplace at Central as a retail destination that offers visitors a one-stop shop to many of their shopping and dining needs,” said James C. Mastandrea, Whitestone’s Chairman and Chief Executive Officer. “Because of Walmart’s reputation and standing as a Fortune 100 company, we have confidence this concept will do well and be a part of this community for years to come.”

Walmart Neighborhood Markets were designed in 1998 as a smaller-footprint option for communities in need of a pharmacy, affordable groceries and merchandise. Walmart Neighborhood Markets offer fresh produce, meat and dairy products, bakery and deli items, household supplies, health and beauty aids and a pharmacy.

Marketplace at Central, located at the Southeast corner of Central and Dunlap Avenues, joins other national retailers including Ross Dress for Less, Sally Beauty Supply, Dollar Tree, Little Caesar’s Pizza, H&R Block and The UPS Store.

Arcadia Towne Center – NWC Indian School and 48th Street, Phoenix – anchored by Safeway and Tutor Time, the center has 4,327 SF of shop space available.

Velocity Retail Group Awarded 1.5 MSF Leasing Portfolio From NorthStar

A leasing portfolio of 1.5 million square feet of retail shopping centers located throughout metropolitan Phoenix has been awarded to Velocity Retail Group. The owners, NorthStar Realty Finance Corp. based in New York have a total real estate portfolio valued at over $3.5 billion nationwide. The Phoenix portfolio consists of 11 separate properties located in Phoenix, Glendale, Chandler, and Mesa, Ariz. The shopping centers have anchor tenants ranging from traditional grocery stores, to educational facilities, and mass merchandise retailers.

“After reviewing the capabilities of several firms for this assignment, we awarded the listings to Velocity Retail as our company valued several of their key competencies,” said Eric Schleif, Vice President of NorthStar’s Dallas office. “Velocity’s broad range of experience in successfully leasing big box space, repositioning centers to alternative uses, and effectively handling shop space and pad leasing fit all of our needs for these properties,” he added.

NorthStar Portfolio of Properties

  • Sun Village Fair – NEC Warner Road and Alma School Road, Chandler – this center is anchored by Fry’s, Beall’s Outlet and Wal-Mart. With 14,340 SF available, and additional pad opportunities on 2.9 acres.
  • Southern Sunset Plaza – SWC Southern Avenue and Country Club Drive, Mesa – anchored by Carrington College, the center has 82,726 SF available.
  • Arcadia Towne Center – NWC Indian School and 48th Street, Phoenix – anchored by Safeway and Tutor Time, the center has 4,327 SF of shop space available
  • Shea Plaza III – NEC Shea Boulevard and 32nd Street, Phoenix – anchored by Basha’s and Walgreens, this center has 7,195 SF of shop space available.
  • Lone Mountain Landing – NEC Lone Mountain and Cave Creek Road, Phoenix – this center is anchored by Foothills Academy and Tutor Time and has 13,038 SF available.
  • Moon Valley Towne Center – SEC Bell Road and 7th Street, Phoenix – Anchored by Fry’s and Hobby Lobby, there is 6,898 SF available in the shops building.
  • Metro Power Center – SWC N. Metro Parkway West and Cheryl Drive, Phoenix – Anchored by Old Country Buffet, the center has 114,156 SF available and is on the ring road of MetroCenter Mall.
  • Park Northern – NEC Northern Avenue and 35th Avenue, Phoenix – anchored by Safeway and Chuck E. Cheese, this center has 30,623 SF available.
  • Bethany Towne Center – NEC Bethany Home Road and 35th Avenue, Phoenix – Anchored by Wal-Mart, Harbor Freight Tools and You Fit, this center has 26,399 SF available.
  • Peoria Station – SWC Peoria Avenue and 67th Avenue, Glendale – anchored by Safeway, LA Fitness, Tutor Time, and Peter Piper Pizza, this shopping center has 42,830 SF available.
  • Westporte Village – SEC Peoria Avenue and 67th Avenue, Glendale – anchored by Wal-Mart Neighborhood Market, this center has 41,389 SF available.

NorthStar also has retained Phillips Edison, who will continue as the property manager for all of the assets.

Over the past several years Velocity Retail Group has focused their resources and personnel on becoming a solution to the glut of over 285 vacant big boxes scattered throughout the Phoenix metropolitan area. The company started a division focused solely on finding adaptive re-uses for vacant retail boxes throughout the West. The REstorEd division was formed in 2012 to give owners and tenants an avenue to creatively repurpose retail centers that are either functionally obsolete, or are in an area where retail is no longer the highest and best use for the building.

The NorthStar portfolio has several big box leasing opportunities. Recently, Velocity Retail achieved a milestone when six vacant Albertson’s were leased, sold, or redeveloped in a little over a years’ time. The team at Velocity Retail Group has leased over 2 million square feet of vacant big boxes in the last three years and is consistently ranked by CoStar as one of the dominant companies for big box leasing.

“The NorthStar portfolio is very diverse and allows our company the ability to utilize a customized marketing plan to achieve optimum results for these assets,” said Darren Pitts, Executive Vice President at Velocity Retail. The shopping centers are located throughout Phoenix with many being anchored by grocery, educational or fitness tenants. Each property has a unique marketing strategy ranging from conventional leasing either in pads, shops or anchor space, to repositioning the center with non-traditional uses, or even a complete redevelopment of the asset. The strategy for each asset is geared to maximize the value of the shopping center and create a mix of tenants consistent with the needs of the surrounding trade area.

The marketing team is being spearheaded by Pitts, Dave Cheatham, Executive Vice President and Managing Principal, Michael Clark, Vice President, John Jackson, Larry Miller, Jr., and James Edwards, all Senior Associates with Velocity. “We have been able to leverage our unique resources, expertise and market intelligence to provide the best possible plan for each of these shopping centers,” said Pitts. “NorthStar has specific goals for each asset, which our plan is designed to achieve.”

Black Friday, Cyber Monday

Black Friday Deals And Cyber Monday Madness

It’s all about Black Friday and Cyber Monday deals this Thanksgiving, but what about deals before Black Friday?

Plenty of retailers, such as Target, Toys ‘R’ Us and Amazon.com, have already kicked off the holiday season with incredibly low prices on high-end items with online-only specials.

Pre-Black Friday Sales

Here are two retailers holding pre-Black Friday sales:


Target has pre-Black Friday deals online and in-store until Wednesday, Nov. 23.

In addition to the great deals, Target is also supplying coupons for the items on sale on its website. Sale items include electronics, toys and household items.

But Black Friday sales are what it’s all about, and Target has a slew of hot items at great prices. In the electronics department, you can find hot buys on the Kindle 3G, a PS3 bundle and a TOMTOM GPS system. Then there are the toys, clothes and household items with door buster prices. And for those deals, you have to wait until Friday.

Toys ‘R’ Us

Toys ‘R’ Us has special deals on Leapfrog books and Leapster learning games, select LEGO games and Radio Flyer Scooters. Additional promotions include, buy one, get one 40 percent off for DS and 3DS video games, and an Olympus 12 mpx digital camera for $69.99, as well as saving up to 50 percent on board games. Customers get free shipping for an order of $49 or more. But hurry, you only have until Nov. 23 to pick up the savings.

Pre-Black Friday Online Retailers

Here are a couple online retailers holding pre-Black Friday sales:


Overstock.com is overflowing with great pre-Black Friday red line deals. From cameras to televisions, some of these red line items are already sold out. There is also an extra 10 percent savings on select outerwear and boots, and don’t forget to stay cozy with some new winter bedding. Overstock.com also offers some great steals on jewelry and designer frocks.


Another pre-Black Friday, retailer is Amazon.com. Amazon has started their time-released lightning deals on Monday, Nov. 21, and they will run all week long. Amazon.com did this last year to entice online holiday sales, and this year it’s taken off in force; in less than an hour from its 4 p.m. release time, a Haurex Italy Men’s Red Arrow U.C. Sampdoria Chronograph Tachymeter Rubber Watch that retails for $800, sold out for $99. The same goes for the Blu-Ray Pulp Fiction DVD for $3.99 from its $19.99 list price — and when it’s gone, it’s gone.

Deals are released approximately every hour with only a clue as to what the product might be.

Black Friday Deals

Many, many retailers are boasting great Black Friday deals, but here are a few:


Apple is known for set prices on its products and accessories, but this Black Friday Mac products will be 10 to 15 percent off. Mac’s will be approximately $101 off the regular price and iPad’s will be $41 – 61 off depending on storage size. The biggest savings will be the base level Macbook Air starting at $898. Apple is also discounting its accessories such as the iPad 2 Smart Cover, the Apple Wireless Keyboard and the Apple Wireless Magic Trackpad.


Macy’s is known for its historic Thanksgiving Day Parade (that airs 9 a.m. – 12 p.m. ET Thanksgiving Day), but they also have some incredible deals, such as ladies cashmere sweaters for $40 (regular retail value $109), as well as men’s Oscar de la Renta sweaters starting at $30. Men’s and women’s winter boots are up to 50 percent off and select kitchen appliances starting at $9.99.


Wal-Mart has some of the best deals on the market, according to its Black Friday sale paper. Select movies regular DVD and Blu-Ray are being advertised for $1.96 – $10.

A selection of Blu-Ray movies under 15 dollars? Only on Black Friday.

Wal-Mart is also attempting to one-up all the other retailers by starting Black Friday sales two hours earlier. While most retailers are starting sales at midnight following Thanksgiving, Wal-Mart is honoring some of their sale prices starting at 10 p.m.

Local Deals

Blissful Yoga Studio

Blissful Yoga, locally owned and operated with locations in Arrowhead, North Phoenix and Scottsdale Quarter, is offering an exclusive, online Black Friday special starting this Friday at midnight.

The special? Sign up for a membership, pay two months and receive two months FREE. This is valued at $270 and is only offered to the first 100-150 memberships. You can cancel after the four months if you wish; no penalties.

For more information about Blissful Yoga, visit blissfulyoga.net.

Phoenix Art Museum

The Phoenix Art Museum is having a Black Friday deal for art lovers. Only on Friday Nov. 25 can you purchase a museum membership for 20 percent off. You can purchase the membership online and enter the code: BLACKFRIDAY or you can visit the museum between 10 a.m. and 5 p.m. to get this great offer.

For more information about the Phoenix Art Museum, visit phxart.org.

Desert Ridge Marketplace

Desert Ridge Marketplace in Phoenix is also offering tons of coupons from its restaurants on locations and retailers, including Aeropostale, Barnes & Noble, DSW and many more. Although you cannot use these coupons on Black Friday, they are valid through December 31, 2011 — perfect for holiday shopping post-Black Friday.

Browse the list of coupons on Desert Ridge Marketplace’s website.

Cyber Monday

Many of the businesses mentioned above will be holding a Cyber Monday sale. Many of the items won’t be disclosed until the night before. But, you can get the inside scoop if you follow your favorite store on Facebook and/or Twitter.

Here are some Cyber Monday links:

Twitter: Cybermonday_fm
Facebook: Cyber Monday FM

Don’t Forget Small Business Saturday

There are incredible deals out there, but don’t forget to shop small businesses on Small Business Saturday, Nov. 26.

Small businesses support the economy and create jobs in your community. Arizona has a plethora of local artisans, jewelers and boutiques. If you can complete even a portion of your holiday shopping at a local business, you’ll be doing something great for your community and yourself.

If you’d like to shop local, calculate your impact and find a local business by visiting shiftarizona.com.