Velocity Retail Group, LLC completed eleven transactions in February including a large industrial transaction on behalf of one of their tenants and two locations for a new restaurant concept to the Arizona market. A summary of each transaction follows:
Darren Pitts of Velocity Retail Group and Bob Crum of Ross Brown Partners negotiated a five-year lease on behalf of The Dump a subsidiary of Haynes Furniture Company, Inc. of Virginia for a 156,410 square foot warehouse at 6655 S. Kyrene Road in Tempe, Arizona. The landlord, CLPF-Kyrene 3, LP, an entity controlled by Clarion Partners, LLC, was represented by Jones Lang LaSalle. The Dump currently operates in the location which serves the retail store at Elliot Road and Priest Avenue.
Andy Kroot of Velocity Retail Group represented Goodwill Industries of Central Arizona in a 10-year lease of 31,200 square feet at South Mountain Crossing, located at the northwest corner of Southern Avenue and 35th Avenue in Phoenix, Arizona. The landlord was represented by Neil Board of Western Retail Advisors.
Larry Miller and John Jackson of Velocity Retail Group represented Campus Village West at the northwest corner of Thunderbird and 49th Avenue in the lease of a 750 square foot space to Vaporice, Inc. This is the second valley location for the company. The new shop is set to open in April.
Chip Thor of Velocity Retail Group represented Snooze Eatery in a 10-year lease for 4,200 square feet build-to-suit location in the Gilbert Heritage Square District at 304 N. Gilbert Road, Gilbert, AZ. The new location will be the second in the Phoenix metro area and is expected to open in November of this year.
Velocity Retail Group’s Nick Ault, John Jackson and Michael Clark negotiated the 5-year lease of 1,200 square feet by Synergy Vapor Labs at Northsight Crossing, located on the northeast corner of Raintree Road and Northsight Boulevard in Scottsdale Arizona. Velocity represented the landlord, LP Realty, and the tenant was represented by Matthew Ault of Voit Real Estate Services. This is the second location for Synergy Vapor Labs, with more planned for Arizona. The Scottsdale store will open this month.
Judi Butterworth and Nick Ault of Velocity Retail Group negotiated a 5-year lease for 1,501 square feet at Peoria Plaza on the southwest corner of Union Hills and 91st Avenue in Peoria, Arizona. The tenant, Salon 301, plans to open in May of this year.
Mattress Firm, Inc. has finalized a 10-year lease for a build-to-suit location at the southwest corner of US 60 and Greenfield Road in Mesa, the 1754 S. Greenfield. Darren Pitts and Michael Clark of Velocity Retail represented the tenant in the transaction. The landlord is Alpha IV Partners, LLC, an entity controlled by Diversified Partners. The 4,200 square foot location is expected to open in the first quarter of 2015.
Velocity Retail Group’s Andy Kroot represented Goodwill Industries of Central Arizona, and Larry Miller, and John Jackson, also of Velocity Retail Group represented Corona del Sol Plaza at the southeast corner of Ray and Rural Road in Phoenix, Arizona, in the lease of 1,275 square feet for a new Goodwill Donation Center. The donation center will be open for business in June of this year and represents one of 20 sites that Goodwill plans to open in Arizona in 2014.
Andy Kroot of Velocity Retail Group represented Pizza Five85 in two transactions that represent the entrance of a new pizza concept restaurant to the Arizona market. A 5-year lease of 2,434 square feet was negotiated at Scottsdale Crossing Shopping Center, 2805 N. Scottsdale Road in Scottsdale, Arizona, and a 10-year lease of 2,425 square feet was negotiated at Chandler Pavilions, 890 N 54th Street in Chandler, Arizona. The landlords were represented by Trish Kaller of Inverness, LLC, and Cliff Johnston of Cassidy Turley BRE, respectively. Both shops will open in the 2nd quarter of 2014.
Velocity Retail Group’s Larry Miller and John Jackson represented the landlord, Tang Properties at 2501 S. Dobson Road in Mesa, Arizona in the negotiation of a 3-year lease of 865 square feet. The tenant is a yet-to-be-named E-Cigarette shop that is planning to open in April of
this year.
