Velocity Retail Group completed 11 transactions during the month of December totaling 300,000 SF. A summary of each:
>> SKB Companies sold a 62,610 SF former Albertson’s grocery store for $1M at the SEC of Main and Dobson in Mesa to Ultimate Consignment. Michael Clark and John Jackson of Velocity Retail represented SKB in the transaction. The buyer was represented by Zak Kotter of LevRose Real Estate.
>> Madison Development Group sold a 5,057 SF fully-lease Mattress Firm building to American Realty Capital. The building is in Bountiful, Utah. Madison recently purchased the land and constructed the building for the Tenant. The seller was represented by Darren Pitts of Velocity Retail and Chad Moore and Jeff Harrison of Mountain West Retail of Utah. The buyer was represented by Jonathan Moseley of 360 RE in Houston.
>> Winco Advisors purchased two retail buildings in December both brokered by Andy Kroot of Velocity Retail. The first transaction, was a 14,691 SF shopping center at the SEC of Greenfield and McKellips Roads in Mesa. The center was built in 2008 and includes regional and national tenants such as Starbuck’s, Chase Bank, T-Mobile, NextCare, H & R Block, Jamba Juice and Café Mix. The 100% leased property was listed by Michael Hackett and Ryan Schubert of Cassidy Turley.
In a second transaction, Andy Kroot represented Winco Advisors, which purchased a 5,000 SF, 100% leased commercial building in the Lake Air Mall shopping center in Waco, Texas.
>> Woodlands Village Shopping Center in Flagstaff, at 2600 Woodlands Village Blvd., sold to CCA Acquisitions Company. The 91,910 SF center, owned by PDC Community Centers was co-listed by Velocity Retail’s Darren Pitts and Ron Ault, and Mountain West Retail’s Ben Brown. Brown also represented the buyer in the $17.26M transaction which closed in December.
>> Zeeks Pizza & Wings signed a 2,400 SF, 5-year lease at the SEC of Warner Rd. and 48th St. in Ahwatukee, which will open in the spring of 2013. The Landlord was represented by Velocity Retail Group’s Michael Clark and Nick Ault. The tenant was represented by Joel Gunning of West USA Realty.
>> Raising Cane’s signed a 20-year, 3,552 SF build-to-suit deal at Gateway Crossing at the SWC of McDowell and 99th Avenue in Phoenix. The Landlord was represented by Michael Clark and John Jackson of Velocity Retail, and the tenant was represented by Mark Bramlett of Cassidy Turley BRE. The store is slated to open in the summer of 2013.
>> Krispy Kreme signed a 5-year deal at Plaza del Sol shopping center at Indian School and 33rd Ave. in Phoenix. The 1,769 SF store will open in 2Q 2013 and is the fifth location for the franchise group in the Phoenix area. Andy Kroot represented the tenant, and Kimco is the Landlord.
>> Wadsworth Development and Accelerated Development sold a fully-leased 12,000 SF building occupied by Mattress Firm. The building is at Hwy. 89 at the entrance to Flagstaff Mall to Aspen Properties. The NNN deal was listed by Darren Pitts and Ron Ault of Velocity Retail, the buyer was represented by Tom Knaub of Colliers International.
>> Velocity Retail’s John Jackson and Michael Clark represented the landlord of the NEC of Greenway/Loop 303 in Surprise on a 14-year lease transaction with West Valley Dental Group has opened a 3,306 SF Peoria Family Dentistry office.
>> Wadsworth Development and Accelerated Development purchased a 75,795 SF parcel at the SWC of Germann and Gilbert in Chandler. The parcel was sold by Exxon Mobil Foundation and is one of the last remaining parcels at the popular intersection. The buyer was represented by Dave Cheatham of Velocity Retail and the Seller was represented by Mindy Korth of CBRE. The buyers plan to build retail shops on the parcel in 2013.
