Darren Pitts of Velocity Retail Group represented Life Time in the purchase of a 3-acre land parcel at Happy Valley Road and 67th Avenue in Peoria, Arizona. The parcel is a portion of the existing Christ’s Church of the Valley (CCV) campus located on the southwest corner of the intersection. The Seller’s entity was Christ’s Church of the Valley, Inc. and Terrazza Land, LLC.
“We have targeted the affluent northwest valley for our brand expansion for a number of years. This parcel provides a unique opportunity for Life Time to expand their premier brand in the rapidly growing North Peoria submarket. This facility will be an incredible amenity for the area and we were pleased to work with CCV on this new development,” said Darren Pitts, Executive Vice President of Velocity Retail.
The team at Velocity Retail Group has worked with Life Time for nearly 20 years when they first expanded into the Phoenix marketplace. This will be the 7th location for Life Time in the Phoenix area. The location will be approximately 120,000 square feet and is expected to open in 2020. As with all of the Life Time facilities in Phoenix, it will be a healthy, happy place the whole family will love. https://www.lifetime.life
This transaction is one of dozens of big box deals completed by Velocity Retail Group in the past year. The firm continues to lead the retail market in big box leasing and sales and looks forward to continuing to serve its expanding retailers at the highest level.
