Velocity Retail Group completes high-profile deals
Following is a summary of recent retail transactions completed by Velocity Retail Group, LLC.
Goodwill to Replace Former Safeway at 39th Ave. and Pinnacle Peak
Velocity Retail Group’s Andy Kroot represented Goodwill of Central Arizona in the lease of a space at the northeast corner of 39th Ave. and Pinnacle Peak Rd. in north Phoenix. The 42,504 square foot full retail store will replace the former Safeway. Kimco Realty Corporation is the landlord in the 10-year agreement.
14.5 Acres Purchased in Queen Creek for Shopping Center Project
A joint venture of Wadsworth Acquisitions, LLC and Accelerated Development Services, a division of Velocity Retail Group, purchased a 14.5 acre parcel located south of the southeast corner of Ellsworth and Rittenhouse Roads in Queen Creek. The site was purchased for $3.1 million. The seller was DVD Heritage Square, LLC of Kansas. The parcel is located in the heart of the Heritage Square development district and is the last major shopping center site in the trade area. Leasing is being handled by Velocity Retail.
Goodwill Leases Space at 99th Ave. and Camelback
Andy Kroot also represented Goodwill of Central Arizona in the lease of a 22,065 square foot space at the southwest corner of 99th Ave. and Camelback Rd. Alan Zell of ZELL Commercial Real Estate Services Inc. represented the landlord, Newbrush Properties, LLC, in the 15-year transaction. Located in Colombia Plaza Shopping Center, the full retail store will also contain a drive thru for donation drop off.
Circle K Purchases Land for a New Mesa Location
Velocity’s Brian Gast represented Circle K in a two-parcel assemblage on the southeast corner of University and Dobson Road in Mesa. The purchase the parcels total approximately 36,111 square feet of land with a 3,348 square foot building. The Sellers were Ervan C. Rokey and Ione O. Rokey Family Revocable Living Trust and E&B Investments, LLC. The sellers were represented by Mark Tomich of Sun State Realty. The new Circle K is set to open January 15, 2016.
AEGON Leases Space to E Institute at Greenway Crossing
John Jackson and Larry Miller of Velocity Retail Group represented AEGON in the lease of their 8,008 square foot space to E Institute in the Greenway Crossing shopping center. Located on Greenway Road just east of Cave Creek Road, the new location is opened in November and has a lease term of 5 years.
Sherwin-Williams Signs Deal in New Pad at Chandler Heights Village in Gilbert
John Jackson and Larry Miller represented The Sherwin-Williams Company in the lease of a 4,000 square foot space in Chandler Heights Village. The landlord in the transaction was CPG Chandler Heights & Higley Retail, LLC, an entity of Camelback Realty Group’s Aaron Klusman. The new pad is located at the northwest corner of Chandler Heights Rd. and Higley Rd. With this 10 year agreement, Sherwin-Williams joins Dunkin’ Donuts in this to-be-constructed pad building in Gilbert, Arizona.
Newest Sherwin-Williams to Open Along Thomas Rd. in Central Phoenix
John Jackson and Larry Miller again represented The Sherwin-Williams Company in the leasing 3,932 square feet of space at 4231 E. Thomas Rd. in central Phoenix. Christiansen Properties is the landlord in the 10 year agreement. Their newest store opened December 1st of this year.
Mattress Firm to Open New Location in North Scottsdale
Velocity Retail Group’s Darren Pitts and Michael Clark represented Mattress Firm in the lease of a 3850 square foot space at the northeast corner of Chauncey Ln. and Scottsdale Rd in north Scottsdale. The landlord in the lease is BCB Group Investments, LLC. This is a ten year deal which is set to open in the third quarter of 2016.
Mattress Firm Leases 3800 SF Space in Queen Creek
The team of Darren Pitts and Michael Clark also paired up to represent Mattress Firm in the lease of a 3800 square foot space at the southeast corner of Rittenhouse Rd. and Ellsworth Loop Rd. in Queen Creek. The new store is set to open in the 2nd quarter of 2016. Phoenix Commercial Advisor’s Zach Pace represented the landlord, Thompson Thrift, in the 10-year lease agreement.
Carter’s To Open 10th Valley Location in West Valley
Dave Cheatham at Velocity Retail Group, represented Carter’s Retail, Inc. in the 10-year lease of a 3792 square foot space at Palm Valley Pavilions at the southwest corner of McDowell and Litchfield Roads. Carter’s, which is based out of Atlanta, plans to have its 10th valley location open in the 2nd quarter of 2016. Alan Houston and Brian Polachek of SRS Real Estate represented the landlord, PV PW Corp.
Metro PCS to Make Entrance into Phoenix Market
The trio of Michael Clark, Larry Miller, and John Jackson represent PDG Shopping Centers America, LLC, a subsidiary of Northstar Realty Finance, in the lease of a 2120 square foot space to Metro PCS. The new site located at Bethany Towne Center on the northeast corner of Bethany Home Rd. and 35th Ave. is set to open in February of 2016. This will be Metro PCS’s first corporate-owned store and will serve as the flagship Metro PCS in the Phoenix market. Sean Bishop of Middlefork Commercial represented the tenant in the 5-year deal.
Simon Chiropractic Center Relocates to Gilbert Fiesta Shops
Brian Gast and Nick Ault represented Andrew Simon of Simon Chiropractic Center in the lease of a 1300 square foot facility east of the southeast corner of Williams Field Rd. and Gilbert Rd. in Gilbert, Arizona. The landlord in the 5-year deal is Gilbert Fiesta II Lots 2&3, LLC, which was represented by LevRose Commercial Real Estate’s Greg Vanlerberghe. The new location is scheduled to open in December of this year.
Mijo’s Mexican Kitchen to Open in Anthem Area
Larry Miller and John Jackson of Velocity Retail Group represented Anthem IAG, LLC in the lease of a 1,211 square foot space to Mijo’s Mexican Kitchen. Located at the northwest corner of Anthem Way and Venture Dr., the store opening on the 1st of the New Year will be Mijo’s first location in the market. Tom Kolb with Keller Williams Commercial represented the tenant in the 5 year transaction.