In August, Velocity Retail Group, LLC completed 18 deals totaling nearly 300,000 square feet spanning from Texas to Arizona, Utah and Oregon. Below is a summary of those transactions.
Ahwatukee will soon have a new 22,565 square foot store for Goodwill Industries of Central Arizona. The retailer will be opening in the Foothills Shopping Center at the northeast corner of Ray Road and 48th Street in Phoenix. Formerly a Michael’s, the tenant was represented by Velocity Retail Group’s Andy Kroot.
Darren Pitts of Velocity Retail Group, and Chris Peters of Capital Pacific in San Francisco represented the seller, J & M Management, LLC in the sale of 10011 Metro Parkway East in Phoenix. The buyer, Tombstone Tactical was represented by Larry Miller of Velocity Retail in the purchase of the 5,425 square foot former Verizon store. Tombstone Tactical has a location in Chino Valley and is growing their business by opening this second store.
Judi Butterworth of Velocity Retail represented the seller, Sooner Frye Price, LLC in the $1.5 million sale of 2.4 acres at the southeast corner of Frye Road and the Loop 101 Freeway in Chandler, AZ. The buyer will open a Chuck E. Cheese restaurant on the parcel. The buyer, Melvin Property #3260 LLC currently has 14 restaurants in multiple states. He was represented by Western Retail Advisors. The property is adjacent to the Hilton hotel.
Moon Valley Towne Center at the southeast corner of Bell Road and 7th Street will soon have two new tenants. Orange Theory Fitness will be opening a 3,090 square foot location adjacent to Hobby Lobby in October of 2014. Additionally, Cartridge World will be opening a 1,260 square foot store. This is a relocation from an existing location. The Landlord, NorthStar Realty Finance Corp. is represented by John Jackson, Larry Miller and Michael Clark of Velocity Retail Group.
Brian Gast of Velocity Retail Group represented the landlord of Scottsdale Fiesta shopping center at the southeast corner of Shea Boulevard and the Loop 101 Freeway in a 3,749 square foot lease to Watercolors High Fashion. The new store recently opened for business. Danielle Davis of LevRose Real Estate represented the tenant in the transaction.
Dave Cheatham of Velocity Retail Group represented Mega Furniture in three separate transactions in San Antonio and Austin, Texas. Working with Nick Altomare of The Retail Connection in San Antonio, the team leased a 29,487 square foot location at 125 NW Loop 410 in the La Plaza Del Norte shopping Center. RPAI was the landlord for this 10-year deal. In a second transaction, Mega Furniture purchased a former K-Mart building located at 3150 Pat Booker Road in San Antonio. The 72,454 square foot building is located on 11.15 acres. These stores are expected to open in the next quarter. In the third transaction in Austin, Texas, Mega Furniture leased a 31,736 square foot building at 3815 Dry Creek Drive in Austin, Texas. The landlord is Sandalwood Management in this 10-year lease. Todd Wallace of Jones Lang LaSalle worked with Velocity Retail group on this transaction. Look for more locations to be announced in the coming months as Mega Furniture expands its Arizona footprint in Texas.
Velocity Retail’s Darren Pitts and Chad Moore of Mountain West Retail represented Mattress Firm in a new 4,084 square foot location at 598 W. Main Street in American Fork, Utah. The site was a former Rubio’s.
Goodwill Industries of Central Arizona, Inc. was represented by Velocity’s Andy Kroot in a new 25,000 square foot location at the northeast corner of Ellsworth Road and Heritage Square in Queen Creek, AZ. The Landlord is E.R. 15, LLC.
Popeye’s Louisiana Kitchen was represented by Dave Cheatham, Darren Pitts, Michael Clark, and Nick Ault of Velocity Retail Group in the 15-year lease of a parcel that will accommodate a 2,695 square foot freestanding building at The Pavilions at Talking Stick at Indian Bend Road and Loop 101 in Scottsdale, AZ. The Landlord is De Rito Pavilions 140, LLC.
Ashley Furniture Stores will open a 15,505 square foot location in the Cascade Village Shopping Center in Bend, Oregon. The tenant was represented by Darren Pitts of Velocity Retail Group and Mark New of New & Neville from Portland, Oregon in the 10-year lease transaction. The store is expected to open this fall.
Larry Miller and John Jackson of Velocity Retail Group represented Edward Jones Investments in two separate transactions. First in a 1,436 square foot lease at Bell Plaza North shopping center located north of the northwest corner of Bell Road and Boswell Road in Sun City, AZ. This location is expected to open by January 2015. The second transaction is a 915 square foot location at the southeast corner of Baseline Road and Hawes in Mesa, AZ. The store is expected to open in October of this year. Edward Jones continues to reposition their stores into more prominent locations including office buildings. Look for more transactions in the near future.
Andy Kroot of Velocity Retail Group represented Goodwill Industries of Central Arizona in a 25,000 square foot transaction at the southeast corner of 99th Avenue and Lower Buckeye Road in Phoenix, AZ. The Mack Southwest Corporation is the landlord for this build-to-suit location.
Total Sports Therapy leased 3,238 square feet in Lone Mountain Landing at Cave Creek Road and Lone Mountain Road in Cave Creek, AZ. The Landlord, NorthStar Realty Finance Corp. is represented by John Jackson, Larry Miller and Michael Clark of Velocity Retail Group. The tenant is expected to open in October of this year.
Goodwill Industries of Central Arizona, Inc. is opening a 25,000 square foot location north of the northeast corner of RH Johnson Blvd., and Camino Del Sol in Sun City West, AZ. Brown Grace 6 Investments, LLC is the landlord for this build-to-suit location.
