Velocity Retail Group comes out with 14 new transactions
Following is a summary of 14 recent retail transactions completed by Velocity Retail Group, LLC.
Beall’s Outlet to Open at Westporte Village
Beall’s Outlet will soon open a new location in Peoria, Arizona. The 23,600 square foot space is located in Westporte Village at the southeast corner of 67th Avenue and Peoria, Velocity Retail Group’s Michael Clark, Larry Miller, and John Jackson teamed up to finalize a ten-year lease on behalf of NorthStar Realty Finance. Tim Westfall and Joe Doucett of Newmark Grubb Knight Frank represented the Tenant. The store is projected to open in March of 2016.
Tuesday Morning to Open by Paradise Valley Mall
Dave Cheatham, Michael Clark and John Jackson teamed up in representing Hobby Lobby in a sub-lease of 16,000 square foot of excess space to Tuesday Morning. The store, which is located on the southwest corner of Cactus Road and Tatum Boulevard, has a projected opening early in 2016. Tom Woods from Colliers International represented Tuesday Morning in the lease.
New Goodwill Location to Open at 7th Avenue and Bell
Andy Kroot of Velocity Retail represented Goodwill of Central Arizona in the lease of a 24,512 square foot space in the former Staples at the northeast corner of 7th Ave and Bell Rd. Zach Pace of Phoenix Commercial Advisors represented the landlord, New Commercentre, LLC.
Active Ride Shop Opening in Tempe Marketplace
Velocity Retail’s Nick Ault represented Active Ride Shop in the lease of a 4,417 square foot space at Tempe Marketplace in Northeast Tempe. The landlord is Vestar Development. This is Active Ride Shop’s first store outside of California and is set to open in the final quarter of 2015. They are looking to open more locations throughout the state.
Carl Entertainment Leases Over 20,000 Square Feet at Bell Road and 16th Street
Andy Kroot of Velocity Retail Group represented Carl Entertainment Partners Corporation in the lease of a 17,855 square foot indoor and 2,700 square foot patio space on the northwest corner of Bell Road and 16th Street. The landlord for the 10 year deal is Howie Land, LLC. Plans for the building and parcel are will be released at a future date.
Digitell Cellular to Open in North Scottsdale
Digitell Cellular entered into a lease agreement with Mammoth Rock, LLC of a 2,190 square foot space at the northwest corner of Raintree and Loop 101 in Scottsdale. Velocity Retails’ Michael Clark represented the landlord in the 5-year deal. The new store is set to open in the 4th quarter of this year.
Accelerated Development Services Purchases 1.5 Acres at Loop 202 and Power Rd.
Accelerated Development Services, an affiliate company of Velocity Retail Group and Wadsworth Acquisitions, purchased 1.5 acres of land on the northwest corner of Loop 202 and Power Road in Gilbert from Tom Baker. Jeff Jennings of Pro Star Realty represented the seller in the $1.2 million dollar transaction.
State Farm Agent Relocates to Anderson Plaza on 35th Avenue
The team of Larry Miller and John Jackson represented Alan Anderson of A.A. Properties, LLC in the lease of 1,760 square feet of space to Justin Crain, a State Farm agent. The new office is located north of the northwest corner of Bethany Home Road and 35th Avenue in Anderson Plaza. Dave Aronson of SRL Commercial represented the tenant in the 5-year lease.
AEGON Leases Space to Express Urgent Care at Greenway and Cave Creek
John Jackson and Larry Miller of Velocity Retail Group represented AEGON in the lease of their 3,452 square foot space to Express Urgent Care in the Greenway Crossing shopping center. Located on Greenway Road just east of Cave Creek Road, the new location is set to open the 1st of October. Bret Isbell of GPE represented Express Urgent Care in the 10 year deal.
Two Leases Renewed at Greenway Crossing
Velocity Retail’s Larry Miller and John Jackson teamed up in the renewal of two more leases in the Greenway Crossing shopping center while representing the Landlord, AEGON. State Farm renewed their lease of a 1,562 square foot space for 5 years. The second renewal came from Big Buddha, a Chinese restaurant, for its 1,467 square foot space for another 5 years.
Noodles & Co. to Open 2nd Phoenix Area Location
The Velocity team of Dave Cheatham and Darren Pitts represented Wadsworth Jordan Crossing, LLC, an entity of Wadsworth Development Group, in the lease of a 2,500 square foot space to Noodles & Company. The store is located at Arrowhead Crossing on the southwest corner of Bell Road and 75th Avenue. This new location is the first in this trade area, and only their second in the Phoenix metro; the first being located at Tempe Marketplace. Daniel Ortega of Colliers International represented Noodles & Company in the 10-year deal. Wadsworth Development Group estimates an opening date of February 24th, 2016.
State Farm Relocates to Anderson Plaza
Alan Anderson’s A.A. Properties, LLC was represented by Velocity’s Larry Miller and John Jackson in the lease of 1,700 square feet to Justin Crain, a State Farm agent. The space located at Anderson Plaza north of the northwest corner of Bethany Home Road and 35th Avenue is set to open in October 2015. Dave Aronson of SRL Commercial represented State Farm in the relocation.