Velocity Retail Group was presented a challenge from their longtime client,La-Z-Boy. The challenge was to find a location at Scottsdale’s Fashion Square Mall for a new store. The retail market surrounding this successful mall is very tight, with few suitable vacancies occurring. Darren Pitts, Executive Vice President at Velocity Retail in partnership with Bob Crum of Ross Brown Partners researched every parcel in the area to find a suitable location. The best option was a 10,000 square foot office building fronting Camelback Road on a 30,000 square foot parcel that was also in close proximity to the hub of the regional mall.
The group went to work coordinating with the City of Scottsdale to make sure the parcel could be converted to retail and provide the building design needed for the re-zoning. The end result has been achieved less than 8 months after closing escrow on the parcel — with a brand new 11,000 square foot La-Z-Boy Home Furnishings and Décor store – the first of its kind in the state.