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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

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

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.

Amazon.com

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

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

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

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.