May 2, 2013


Velocity Retail Group April Transactions


Velocity Retail Group completed transactions in April totaling nearly 130,000 SF. A summary of each transaction follows:

>> Goodwill of Central Arizona is expanding its existing store and training center into a 35,882 SF facility at 6750 W. Peoria Ave. in Peoria. The current store and training center were previously in separate suites within the shopping center and will now be housed in the same storefront. The training center is increasing in size from 2,700 SF to more than  7,000 SF. Goodwill is represented by Andy Kroot of Velocity. The Landlord is First Chino Hills Properties, LLC, an entity formed by Ethan Christopher, LLC, Aric Browne is its representative.

>> John Jackson, Michael Clark, and Nick Ault represented the landlord, LP Realty, Inc., in a 4,800 SF transaction to Windy City Café at Northsight Crossing at the NEC of Northsight Blvd., and Raintree in Scottsdale. The tenant signed a 5-year lease and is expected to open in May of this year.

>> Velocity’s Chip Thor and Dave Cheatham negotiated a 3,830 SF lease on behalf of Four Peaks Brewing Company at Sonora Village at the SEC of Frank Lloyd Wright and Hayden Rd. in Scottsdale. This is an existing location for the tenant with a newly extended lease term.

>> Judi Butterworth of Velocity Retail leased a 7,575 SF space to Naber’s Music Bar & Eats, and entity of 1 D and D, LLC. The restaurant will be located at 825 N. 54th St. (Ray/54th) in Chandler. The local operators are offering new comfort food for lunch and dinner and a late-night menu. The western-themed venue will have live music, feature local and regional beer and wine and plan to open in August of this year. Pavilions Holdings, LLC is the landlord, they were represented by Paul Serafin from De Rito Partners.

>> Velocity’s Andy Kroot represented Goodwill of Central Arizona in a new 12-year, 29,919 SF location at 1625 W. Camelback Rd. in Phoenix. The landlord is AT Park Lee AZ, LLC.

>> Mattress Firm signed a 10-year lease at the SWC of 22nd and Harrison in Tucson. Mattress Firm was represented by Darren Pitts, Michael Clark, and Dave Cheatham of Velocity Retail. The landlord is an entity formed by Bourn Advisory Services of Tucson, whose representative was Alan Tanner. The 3,800 SF store is expected to open in December.

>> Velocity’s Judi Butterworth represented Audio Express in a new 4,417 SF location at Chandler Village. The landlord, BAMA Chandler, LLC was represented by Adrienne Bryant at De Rito Partners. The tenants signed a 5-year lease and plan to open in August of this year. Audio Express’s parent company is Freight Sales, Inc. which has 43 stores in 8 states with 10 under the Audio Express banner throughout Arizona.

>> Velocity’s Jim Edwards and Larry Miller leased a 2,100 SF location to Flair Gifts and Boutique at Tatum Plaza located at the SEC of Tatum Blvd. and Cave Creek Rd. in Phoenix. The tenant is relocating from their current location at Tuscany Village, and signed a 5-year lease with plans to open in June of this year. CBRE’s John Rehling and Aaron Retts represented the landlord in this transaction. The tenant is the original Lotions & Potions owner with a location still operating on Mill Avenue in Tempe.

>> Andy Kroot of Velocity Retail represented Capriotti’s Sandwich Shop/Everything Bagel in a new 1,800 SF location at 4017 N. Scottsdale Road in Old Town Scottsdale. The store opened April 30, 2013. This is Capriotti’s Sandwich Shop’s sixth location in the Valley with many more in the works for 2013/2014.

>> Andy Kroot leased a 24,492 SF location at 455 E. Warner in Chandler to Gold Medal Gymnastics. The new facility is a relocation of an existing site allowing Gold Medal to expand their programs and services. The company was founded in 2004 by former Olympic gold medalist, Amanda Borden-Cochran and her husband, Brad Cochran. CBRE’s Mike parker and Evan Koplan represented the Landlord, Aviv Realty ADA in the transaction. The location is expected to open in November.

>> Jim Edwards and Larry Miller of Velocity leased a 1,245 SF store to Polished & Pamper Mani-Pedi Spa at Dobson Baseline Plaza located south of the SEC of Baseline and Dobson in Mesa. Edwards and Miller represented the landlord, Tang Enterprises in the five-year transaction. The store is expected to open in July.