Shea and 32nd

June 19, 2015


Velocity Retail Group May transactions

Following is a summary of recent retail transactions completed by Velocity Retail Group, LLC.

Andy Kroot of Velocity Retail Group represented Goodwill of Central Arizona in the purchase of 82,106 square feet of land for a new commercial maintenance facility. The lot, which was purchased from Satnam, LLC, is located just east of central Phoenix on the northeast corner of 32nd Street and Van Buren Road.

Velocity Retail Group’s Larry Miller and John Jackson represented Paragon Vison Sciences, the leader in CRT Lenses, in relocating and expanding to a 45,000 square foot facility at 2120 West Guadalupe Road in Gilbert, Arizona. AZCAL, LLC is the Landlord for this 10-year lease, which was represented by Tom Louer and Stein Koss from Lee & Associates. Paragon Vision Sciences has estimated an October 2015 opening date for the new location.

The duo also represented Arizona Greenway Hirani Investments, LLC in the 10-year lease of a 6,000 square foot building to Humana’s Iora Health. Located at the northeast corner of 32nd Street and Greenway Avenue in Greenway Park Plaza, this new clinic helps Humana expand their Iora Health brand into North Phoenix. DTZ’s Dev Gupta represented Humana in the transaction; which is set to open in October of 2015.

Velocity’s Larry Miller, John Jackson, and Brian Gast teamed up to represent Val Vista Village Square, LLC in the lease of a 2,400 square foot space to Susie’s Wigs. This is a relocation of the business to the southeast corner of Cooper Road and Baseline Road in Mesa. Susie’s Wigs was represented by Jane Lee with DPR Commercial in the 5 year deal which is set to open this month.

Larry Miller, John Jackson, and Michael Clark represented NorthStar Retail in the lease of a 3,184 square foot space to Shea Animal Hospital in Phoenix. This relocation is next door to their existing facility in Shea Plaza III, at the northwest corner of Shea Blvd., and 32nd Street.  Their former location is being razed to make way for a new mid-rise apartment complex. The new hospital is expected to open by September of 2015.

Michael Clark and Darren Pitts at Velocity represented Mattress Firm in the leasing of a 10-year, 4040 square foot space on the southwest corner of 75th Avenue and Bell Road. The landlord is a venture formed by Wadsworth Development and Accelerated Development Services. The store is expected to open in the fourth quarter of 2015.

Velocity Retail Group Represented V’s Barber Shop in the lease of two separate facilities. The first is a 1200 square foot space on the northeast corner of 7th Street and Missouri Avenue in the Cinema Park Shopping Center. The second is an 1100 square foot facility on River Road at Campbell Avenue in Tucson, Arizona. Both leases are 10-year deals and expand V’s footprint to eleven stores in Arizona.