PHOENIX, ARIZ. November 7, 2018. Velocity Retail Group recently finalized the first two ground leases for Valvoline Instant Oil Change™ as part of their new market expansion into the Phoenix metroplex and the State of Arizona. The company is the second largest quick lube chain in the U.S. with currently 1,150+ locations in 46 states. Velocity Retail Group is representing Valvoline in their roll-out of ground-up corporate stores throughout the Phoenix metro area. Dave Cheatham, Darren Pitts, Brian Harpel and Mark Timpani are working with VIOC on the expansion and currently have over a dozen new sites in progress.
One of the new stores will be located at the northwest corner of McDowell Road and Pebble Creek Parkway in Goodyear. Tradecor, LLC is the landlord for the 1.1 acre parcel where VIOC will build their 2,100 square foot prototype building.
Another location will be in Queen Creek at the northeast corner of Queen Creek Road and Ellsworth Road in the Shops at Terravella. Zach Pace with Phoenix Commercial Advisors represented the Landlord, Newquist Commercial Properties on the transaction. The stores are expected to open in the 4th quarter of 2019.
“We are excited to be working with Valvoline on their market expansion throughout Phoenix,” said Darren Pitts, Executive Vice President at Velocity Retail. “Valvoline is one of the world’s most recognized brands and is one of the strongest active credit tenants in the retail marketplace today,” he added.
About Velocity Retail Group
Headquartered in Phoenix, Arizona with an office in Tucson, Velocity Retail Group (www.velocityretail.com) provides a full range of commercial real-estate services including leasing and selling of shopping centers, tenant representation, land advisory, consulting, investment consulting, capital market solutions, development to retail tenants, and redevelopment to owners of retail real estate throughout the West. Velocity Retail Group is a member of X Team Retail Advisors a platform of 400 retail professionals in 38 offices nationwide. For more information, visit www.xteamretail.com