Velocity Retail Group Recent Transactions

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Velocity Retail Group, LLC completed eight transactions in January including two big box deals.  The new stores will be located in California, Phoenix, Yuma and Tucson. A summary of each transaction follows:

Andy Kroot of Velocity Retail Group represented Goodwill Industries of Central Arizona in a 15-year least of 20,000 square feet at Fortuna Commons at the southeast corner of I-8 and Fortuna Road in Yuma, Arizona. The landlord was represented by Chris Gerow of NAI Horizon.   

Velocity Retail Group’s Larry Miller negotiated a 5-year lease on behalf of Rod Works for a 2,488 square foot space at The Shops at Norterra located at the northeast corner of I-17 and Happy Valley Road in Phoenix.  The landlord is RED Development/USAA. The store is currently open.

Darren Pitts of Velocity Retail Group negotiated a 5-year lease for a 3,300 square foot location on behalf of Uptown Cheapskate at the northwest corner of Ina and LaCholla Roads in Tucson.  The landlord is Schottenstein Property Group. Uptown Cheapskate® is a sister company to KiD to KiD®, an award winning children’s product franchise with stores nationwide. The stores buy, sell, trade and consign new and gently used clothing and accessories at discounted prices.  Uptown Cheapskate caters to the pre-teen and young adult demographic.  This will be the first location for this tenant in Tucson. 

Velocity Retail Group’s Andy Kroot negotiated a 5+ year lease with Jimmy John’s Gourmet Sandwiches for a 1,623 square foot store at Falcon Gateway located on the southeast corner of Greenfield and McKellips in Mesa.  The new store is expected to open in April. Brian Polachek with SRS Real Estate Partners represented the tenant in the transaction. 

Velocity Retail Group’s Darren Pitts and Vince Roche with Pacific Commercial Realty Advisors negotiated a 10-year lease for a 43,929 square feet store on behalf of Ashley Furniture Homestore.  The new store is located in Sequoia Plaza at 3848 S. Mooney in Visalia, California. The store will open for business in the second quarter of this year. 

Darren Pitts, and Michael Clark of Velocity Retail Group represented Mattress Firm in a 10-year lease of 5,000 square feet at El Con Mall located at the northwest corner of Broadway and Alvernon in Tucson, Arizona.  

Velocity Retail Group’s Andy Kroot negotiated a lease on behalf of Goodwill Industries of Central Arizona for a 1,080 square foot Donation Center at the Scottsdale Grayhawk Center on the southeast corner of Scottsdale Road and Grayhawk Drive in Scottsdale. The landlord was represented by Adam Madison of Cushman Wakefield.

East Valley Vapors signed a lease for a 1,200 square foot space at Elliot Square on the southeast corner of Elliot Road and Dobson Road in Chandler. Velocity Retail Group’s Larry Miller and John Jackson represented the landlord. This will be the first location for East Valley Vapors and is expected to open for business in April.

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