Commercial Real EstateRetail

Velocity Retail Group Recent Transactions

PHOENIX, ARIZ.  –  Velocity Retail Group recently completed dozens transactions totaling over 4.5 million square feet of retail, land and big boxes. The team leases and sells more big box transactions than any other local firm, with big box sales and leasing accounting for twenty-five percent of these transactions.

Following are a few highlights of the new transactions:

Ashley HomeStore to Open in Prescott
Ashley HomeStore has signed a lease for a new location of 31,689 SF at 3090 Gateway Boulevard in Prescott, Arizona.  The location is immediately adjacent to Prescott Gateway, the area’s only enclosed regional mall, in a location formerly occupied by The Roomstore.  Darren Pitts of Velocity Retail Group and Aaron Hodgdon of Hodgdon Group Realty represented the tenant in the transaction.  Ryan Desmond from Western Retail Advisors represented the Landlord, STORE Capital.  The store is expected to open in the 1st quarter of 2019.

Cave Creek Parcel Sold for Self Storage
Dean Ingram and Brian Gast represented the Owner, Carefree and Cave Creek LLC, an entity controlled by Pacific West Land in Washington state, for the sale of a 2.8 acre parcel at the northwest corner of Carefree Highway and Cave Creek Road.  The parcel is located just north of the Lowe’s Home Improvement store.   The buyer, William Warren Group out of California.  The company has plans to develop a self-storage facility on the property.  The land sold for $1,100,000.

Old Navy Expands at Superstition Gateway
Dave Cheatham, Darren Pitts and Bonnie Arlia recently finalized a lease of 12,500 square feet on behalf of Old Navy.  The new store will be located at the southwest corner of the US 60 Freeway and Signal Butte Road.  They will occupy part of the former Staples space.  Brian Gast of Velocity Retail Group represented the Landlord, DTL-SGW, LLC and DTR1C-SGW, LLC in the transaction.  This will be the 19th Old Navy store in the Arizona market. The store is expected to open in August of this year.


Iora Primary Care to Open new Clinic in Mesa
Brian Gast represented the Landlord, in a 7,923 square foot lease to Iora Primary Care, a division of Humana, Inc.  The new clinic will be located at the northwest corner of McKellips and Recker Roads in Mesa.  The tenant was represented by Cushman & Wakefield’s, Dev Gupta.  The clinic is expected to open in October of this year.

Former Bank Branch at Guadalupe and Gilbert Roads Sells
Brian Gast of Velocity Retail represented the Buyer, F & S Management IV, LLC in the purchase of an approximate 1 acre parcel with a 6,981 square foot former bank building at the southeast corner of Guadalupe and Gilbert Roads in Gilbert, Arizona.  The buyer has also engaged Brian Gast of Velocity Retail Group to lease the building.  Tyson Switzenberg of JLL represented the Seller in the transaction.

Starbucks Signs at The Crossing at Sahuarita
Starbucks recently finalized a lease of 2,400 square feet at The Crossing at Sahuarita. The Sprouts anchored project is located at the southeast corner of Nogales Highway and Abrego Drive in Sahuarita, Arizona.  The center is leased by Brian Gast and Dave Cheatham of Velocity Retail Group, with Brenna Lacey of The Volk Company in Tucson as co-listing agents.  Greg Furrier with Cushman & Wakefield / PICOR represented the tenant in the transaction.  The landlord ownership group is a partnership between Wadsworth Development Group and Accelerated Development Services.

Old Navy Expands in Queen Creek
Dave Cheatham, Darren Pitts and Bonnie Arlia recently finalized a lease of 12,500 square feet on behalf of Old Navy.  The new store will be located in the Queen Creek Marketplace shopping center located at the southwest corner of Rittenhouse Road and Ellsworth Road in Queen Creek.  They will occupy part of the former Cost Plus World Market space.  The Landlord is Vestar QCM, LLC, and was represented by Matt Milinovich of Strategic Retail Advisors.  When the store opens in August of 2019 it will be the 20th Old Navy store in the Arizona market.

Go Wireless Lands in Marana, Arizona
Brian Gast and Bonnie Arlia recently negotiated a lease for a 2,200 SF Go Wireless – Verizon store in the Shoppes at Continental Ranch in Marana, Arizona.  The Safeway anchored center is located at the southeast corner of Twin Peaks and Silverbell Roads.  The store will be located in a newly constructed building along Silverbell at the entrance to the shopping center.  Craig Finfrock of Commercial Retail Advisors in Tucson represented the Landlord in the transaction.  This is the 6thnew location the team has completed for this tenant in the last year.

Remedy Pilates & Barre Expands
Bret Olson, and Darren Pitts of Velocity Retail negotiated a 2,065 SF lease with Remedy Pilates & Barre at the southeast corner of Indian School and 36th Street in the Gaslight Square shopping plaza.  This will be the second location for the tenant.  They are expected to open in September of 2018.  Jared Lively of Rein & Grossoehme represented the Landlord in the transaction.

Circle K Expands Location in Phoenix
Brian Gast represented Circle K in a 52,231 SF ground lease at the southeast corner of Elliot Road and 51st Street in Phoenix.  Circle K currently operates a smaller store on the hard corner.  The adjacent former Burger King will be razed to rebuild a new prototypical Circle K on the larger site.  Anticipated opening date of the new store is 4th quarter of 2018.

Prime Sleep to Add 4th Store in the Market
Darren Pitts and Dave Cheatham with Velocity Retail along with Bryan Cornelius from Venture Commercial in Dallas completed the fourth Prime Sleep location for the Phoenix area.  The 4,500 square foot store will be located at the southwest corner of Williams Field Road and San Tan Village Parkway in the San Tan Pavilions Shopping Center.  The Landlord is San Tan AZ, LLC, represented by Jason Hersker and Stephen Herman of Capital Asset Management.  Opening is slated for early 2019.

Mountainside Wellness Center Purchases Medical Building
Brian Harpel represented the Mettham Family Trust in purchasing a 1,873 SF medical building in Foothills Professional Village at 16515 S. 40th Street, #129 in Phoenix.  The practice has been in business for over 17 years at their Chandler Boulevard location and has now relocated to the new building.  Velocity Retail Group’s Dave Cheatham placed the tenant in their original location in 2001.

Nitro Live Icreamery and Pilot Mortgage to Open in Gilbert
Brian Gast represented the Landlord, Cooper Square Shops, LLC on two new lease transactions. Nitro Live Icecreamery leased 1,312 square feet, and is expected to open in January 2019. Pilot Mortgage leased 1,002 square feet and is expected to open in the 4th quarter this year.

Bayshore Plaza Sells at Warner and Cooper Roads in Gilbert
Velocity Retail’s Brian Gast, and CBRE’s Greg Abbott worked together to sell Bayshore Plaza shopping center at 730 S. Cooper Road in Gilbert, Arizona.  Greenstone Partners out of Chicago Illinois represented the Buyer, Bunge Bradley, LLC in the investment sale transaction.

Vantage West Credit Union in Gilbert
Brian Gast represented the Landlord, in a 4,000 square foot lease to Vantage West Credit Union.  The new branch will be located in a free-standing former Chase Bank building at the southeast corner of Ray and Cooper Roads in Gilbert, Arizona.  The tenant was represented by Chris Evjen of Diversified Partners. Vantage West is expected to open by the end of 2018.

Ray & Power Shops Gains New Tenant
Brian Gast represented the Landlord’s in a new lease for the shops at the southeast corner of Ray Road and Power Road in Gilbert.  Shiphaus Express leased 1,325 square feet of space. They are expected to open in the 4th quarter of 2018.


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.

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Velocity Retail Group Recent Transactions

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

Anytime Fitness Opening in Northeast Phoenix

Michael Clark, Larry Miller and John Jackson from Velocity Retail represented the landlord, Scottsdale Land Company, LLC, an entity of Wadsworth Development, in the 5,955 square foot 10-year transaction at the northeast corner of Thunderbird and 40th Street in the Paradise Shopping Plaza. The space was formally occupied by Total Woman Gym. Anytime Fitness is represented by CBRE’s Jami Savage, the new gym is estimating a grand opening in March of 2016.

WSS Shoes Opens First Location in Phoenix Market

Andy Kroot, Darren Pitts and Nick Ault represented WSS Shoes in the sublease of a former 12,000 square foot Shoe Carnival building. The store is located in the Mesa Ranch shopping center on the northwest corner of Southern and Stapley. Jake Schumer of HILCO represented Shoe Carnival. The planned opening of is the 3rd quarter in 2015 will mark the first expansion for WSS Shoes into the Phoenix market.

XGT Fitness by Smart Gym Energizes Park West Shopping Center

The team of Michael Clark, Larry Miller, and John Jackson also represented Howard Hughes Corporation in the lease of an 8,925 square foot space to Blu Phoenix, the parent company of XGT Fitness by Smart Gym. The lease is signed for 13 years and is located at Park West on the northwest corner of Northern and the Loop 101. President of Blu Phoenix, Drew Marsh, stated that Smart Gym’s new prototype, XGT Fitness, will accommodate everyone’s fitness needs by combining group fitness classes with a complete gym. Representing the tenant was Velocity’s Larry Miller and John Jackson. The gym is set to open November of 2015.

Park West

Val Vista Towne Center to Get Nature’s Health Vitamin Shoppe

Brian Gast, Larry Miller and John Jackson of Velocity Retail represented the landlord, North American Development Group in the lease of a 1,262 square foot space in Val Vista Towne Center at the southwest corner of Warner and Val Vista Roads in Gilbert . The new tenant, Nature’s Health Vitamin Shoppe, was represented by Bryant Commercial’s Jonvieve Bryant. . This five year deal is expected to open in October of 2015.

Mattress Firm Adds New Location in Tucson

Velocity Retail Group’s Darren Pitts and Michael Clark represented Mattress Firm in the lease of a 6000 square foot building in the Rancho Center, on the southeast corner of Speedway and Camino Miramonte in Tucson, Arizona. The building was leased from Rancho Center, LLC for five years. Debbie Heslop of Volk Company represented the landlord in this transaction. The new location is set to open in the fourth quarter of 2015.

Mattress Pro Expands Further Into Tucson Market

Darren Pitts and Michael Clark also teamed up to represent Mattress Pro in the leasing of a 6683 square foot building on the southeast corner of Oracle and Limberlost in Tucson, Arizona. The landlord on the five year lease is Oracle/Limberlost Shopping Center, LLC. The new store is also set to open in quarter four of 2015.

Mattress Firm to Open New Location on Broadway Boulevard in Tucson

Darren Pitts and Michael Clark represented Mattress Firm in the leasing of a 4,800 square foot building on the northeast corner of Broadway Blvd., and Pantano Rd. in Tucson, Arizona. The landlord on the five year lease Broadpan Properties, LLC, was represented by Cushman & Wakefield’s Aaron Laprise and Greg Furrier. The new store is set to open in the 4th quarter of 2015.

Baskin Robbins Leases Space from Desert Troon in Southeast Valley

Brian Gast of Velocity Retail represented the landlord, Desert Troon, in the lease of a 1500 square foot space in the Township Plaza on the southwest corner of Gilbert and Baseline. The new tenant, Baskin Robbins, was represented by Mathew Ault of Voit Commercial. This five year deal has an opening date set for September of 2015.

Hoda’s Gadgets Takes Space in Bell Tower Plaza

Larry Miller and John Jackson represented Bell Tower Plaza, LLC in the lease of a 1040 square foot space to Hoda’s Gadgets. Bell Tower Plaza is located on the northwest corner of Bell Road and 63rd Avenue. Set to open in 2016 lease marks the first location for the tenant, Hoda’s Gadgets.

OHM Breaks Ground in Phoenix Market

OHM Factory leased a 1,200 square foot space from Red Mountain Retail Group. Velocity Retail’s Brian Gast represented the Landlord in the lease. It’s opening in July marked the first valley location for the tenant.

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Velocity Retail Group Recent Transactions

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.

Shea_32ndSt_NWC

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.

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Velocity Retail Group Recent Transactions

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

Park West

Velocity Retail Group’s Andy Kroot represented the Seller in the sale of a single-tenant 1,850 square foot Starbuck’s store on 23,000 SF of land at the southwest corner of McKellips Road and Scottsdale Road in Tempe, Arizona. The building was sold to TEMK Investments Fremont, LLC for $2,420,000. Jon Stansbury of DTZ represented the Buyer.

Larry Miller and John Jackson from Velocity Retail represented the buyer, Western American Investments, LLC in the purchase of a 1,252 office condo building located west of the northwest corner of Warner and Lindsay in Gilbert, Arizona for $106,420. The new owner of the building then leased it to Edward Jones Investments. The tenant is relocating one of their existing Gilbert offices to this new location at the Warner Plaza Office Condominiums. Jackson and Miller also represented Edward Jones on the five-year lease. Edward Jones is expected to open on July 1st of this year. Edward Jones is strategically repositioning existing offices throughout the Southeast Valley with the exclusive assistance of Miller and Jackson at Velocity.

Starbucks_McKellips

Michael Clark and Darren Pitts represented Mattress Firm in two separate transactions this month. First a 4,200 square foot location in Sierra Vista at the northeast corner of Fry Blvd., and Arizona 92.

The new store is expected to open in December of 2015 and will be the first store in the market.

Next a 3,800 square foot location at the northeast corner of Acoma Drive and Scottsdale Road. The landlord of this redeveloped building is SJJ Development, who was represented by Chris Hollenbeck at DTZ. This location is expected to open in the 2nd quarter of this year.

Velocity’s Brian Gast represented Courage Honor Strength Brazilian Jiu-Jitsu in a 2,880 square foot three-year lease at Pollack Plaza at the northwest corner of Elliot and Arizona Avenue. The tenant is expected to open in the 2nd quarter of 2015.

John Jackson and Larry Miller of Velocity represented the landlord, AEGON USA Realty Advisors, LLC in a 1,447 square foot 5-year transaction with The Decal Shoppe in the Greenway Crossings shopping center located at the northeast corner of Greenway Road and Loop 303 in Surprise, Arizona. This is the first retail location for the tenant, which is expecting to open in May of this year.

Nick Ault of Velocity Retail represented Floyd’s 99 Barbershop in their first corporate store lease in the Arizona market. The 1,500 square foot store will be located at Arrowhead Festival at the northeast corner of Bell Road and 75th Avenue in the former Starbuck’s building. The tenant is planning on opening in the 3rd quarter of this year, with a 10-year term.

Larry Miller, John Jackson and Michael Clark of Velocity Retail represented the Landlord, Chandler in the Spotlight in a 2,500 square foot lease at The Chandler Shops, located at the northeast corner of Loop 202 and Chandler Village Drive. The tenant, LDVinci Art Studio signed a 7-year lease and plans to open in August of 2015. This is a relocation of an existing store.

Darren Pitts and Michael Clark represented Mattress Pro for two separate transactions. First is a 4,000 SF location at the northwest corner of Broadway and Craycroft in Tucson, Arizona. The landlord, SFR Associates, LLP was represented by CBRE’s Nancy McClure. This store is expected to open in the 4th quarter of 2015. Next is a 3,500 square foot store at the northeast corner of Grant and Swan in Tucson, Arizona. The landlord, Scarlet Investments, RLLC was represented by McClure. This location is expected to open in the 4th quarter of 2015.

Velocity Retail Group’s Larry Miller and John Jackson represented the landlord, Howard Hughes Corporation on a 1,400 square foot lease to Mystic Nails. The new store is a 5-year renewal of an existing lease and is located at the northwest corner of Northern and Loop 101 in the Park West shopping center.

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Velocity Retail Group Recent Transactions

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Goodwill Industries will be opening a new retail storeat the southwest corner of Arizona Avenue and Riggs Road in Candler, AZ. Andy Kroot of Velocity Retail Group negotiated the ten-year lease of 27,600 square feet on behalf of the tenant. The landlord, Greenway 32, LLC, was represented by Bob Rusing of Arizona Partners Retail.

 

Velocity Retail Group represented Tokyo Joe’s in a ten-year lease of 2,500 square feet north of the northeast corner of Baseline Road and Val Vista Drive in Gilbert, AZ. The landlord was represented by Trent Rustan of Commercial Properties. A second Tokyo Joe’s was also signed at Chandler Pavilions at the southeast corner of Ray Road and Interstate 10 in Chandler. The 2500 square foot store will be opening in the former Barbeques Galore space during the 3rd quarter. The landlord was represented by Cliff Johnston of Cassidy Turley BRE.

 

Integrity Staffing leased a 6,005 square foot free-standing building at the Agua Fria Towne Center, located at the northeast corner of Camelback Road and Loop 101 in Glendale, AZ. Velocity Retail Group’s Judi Butterworth, Nick Ault, and Michael Clark represented the landlord. The tenant was represented by Michael Prochelo of Financial Management Group.

 

Nick Ault of Velocity Retail Group represented Yummi Sushi in a three-year lease of 3,797 square feet at the northeast corner of Thunderbird Road and 32nd Street in Phoenix, AZ. The landlord was represented by Reuel Couch of The Restaurant Brokers.

 

Representing the landlord at the ­Sun Village Fair Shopping Center at the NEC of Warner Road and Alma School Road in Chandler, AZ, Michael Clark, John Jackson, and Larry Miller of Velocity Retail Group leased a 1,507 square foot space to Third Party MVS Services on a five year lease. Sun Village Fair is one of eleven valley centers that Velocity Retail Group represents for owner NorthStar Realty Finance Corp.

 

Denny’s Restaurants was represented by Andy Kroot of Velocity Retail in the 10-year least of 5,695 square feet at the NWC of I-17 and Dunlap Avenue, in Phoenix, AZ. The Winco/Conn’s Shopping Center was represented by Gordon Keig of Kornwasser Properties.

 

Larry Miller and John Jackson of Velocity Retail represented Edward Jones Investments in the five year lease of 1,100 square feet at Lindsay Groves on the SWC of Lindsay Road and Germann Road in Gilbert, AZ. The landlord was represented by Matt Zaccardi of CPI. Edward Jones Investments plans to relocate their Gilbert office to the new location in October of this year.

 

Miller and Jackson also represented The Sherwin Williams Company in the ten year lease of 4,000 square feet West of the Southwest corner of Happy Valley Road and 19th Avenue in Phoenix, AZ. The landlord, Happy Valley Towne Court, was represented by Jerry Roberts of NNN Amercia. The lease represents the first of several stores Sherwin Williams plans to open in 2015, as they expand their North Phoenix footprint.

 

Westfest LLC, owners of Desert Sky Festival located at the southeast corner of Thomas Road and 75th Avenue recently completed a 3-year lease with CFC financial for a 1,200 square foot space. Judi Butterworth from Velocity Retail, and Paul Serafin of De Rito Partners co-listed the project and negotiated on behalf of the Landlord.

 

Darren Pitts of Velocity represented Uptown Cheapskate in a five-year lease of 4,056 square feet at Chandler Gateway shopping center located at the northeast corner of Chandler Boulevard and Chandler Village Parkway. The landlord is Chandler Gateway SPE, LLC. The retailer is a sister company of Kid to Kid, and will focus on teen and tween resale and new clothing and accessories. The store is planning to open by 3rd quarter of this year.

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Velocity Retail Group Recent Transactions

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Below is a summary of Velocity Retail Group, LLC recently completed transactions.

 

Laser Away Centers will be opening their 2nd location in Arizonaat the northeast corner of Camelback Road and 44th Street in Phoenix.  Judi Butterworth of Velocity Retail Group negotiated the five-year lease of 1,259 square feet on behalf of the tenant. The landlord, Camelback & 44th OPCO, LLC was represented by Joe Hoye of Westwood Financial Corporation. The new location will open in the 3rd quarter of this year.

 

Velocity Retail Group, LLC announces that Carter’s Retail, Inc. will be opening a 3,483 square foot store this summer at Yuma Palms Regional Center at the northeast corner of Interstate 8 and 16th Street in Yuma, AZ.  Dave Cheatham of Velocity Retail Group represented Carter’s in the 10-year lease transaction.  The landlord, Inland Continental Property Management Corp. was represented by Joe Doucette of GDCRE. 

 

Larry Miller and John Jackson of Velocity Retail Group represented CrossFit Magna in a 11,704 square location in the Village Center located at the northwest corner of Cactus Road and Paradise Village Parkway in Phoenix, Arizona.  The landlord is Phillips Edison & Company.  The tenant is currently in the trade area and is doubling their store size with this new location. They are expected to open by August 1st

 

Nick Ault and Judi Butterworth of Velocity Retail Group represented Edwards Hollywood, LLC in the lease of a 6,005 square foot former Hollywood Video space at the northwest corner of Camelback and 95th Avenue to Integrity Staffing Solutions, Inc.  The tenant was represented by Adam Hood of Colliers International in the three-year lease transaction.  The new location is planning on opening in July. 

 

Nick Ault of Velocity Retail Group represented Carmel Cleaners in a 5-year lease for 2,200 square feet at the southeast corner of Pinnacle Peak and Scottsdale Roads.  The landlord was represented by Ryan Amato of Eisenberg Companies.  This will be the 3rd location for this tenant and they are expected to open in the first quarter of 2015.   

 

Larry Miller and John Jackson of Velocity Retail Group represented CompassQuote Insurance in a 1,028 square location at the northeast corner of Pinnacle Peak and Pima Roads in Scottsdale, Arizona.  The landlord, La Mirada Shopping Center was represented by Jennifer Eggert of Zell Commercial.  This is the first location for this tenant and they are currently open for business.  

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Velocity Retail Group Recent Transactions

Anthem Eastside Shops

Anthem Eastside Shops

Hut No. 8, a clothing retailer new to the Valley, will be opening its first location in Arizona at the SWC of Warner Road and Val Vista Road in Gilbert. Larry Miller, John Jackson, and Michael Clark of Velocity Retail Group negotiated a five-year lease of 3,428 square feet on behalf of the landlord, North American Development Group. The tenant was represented by Mark Camara of APE Realty. This is also the first location for the franchisee, which plans to open in July.    

Velocity Retail Group, LLC announces that the first newly redesigned prototype for Popeye’s Louisiana Kitchen will be built at the southwest corner of Elliot Road and Priest Drive in Tempe, Arizona.   Dave Cheatham, Michael Clark, and Nick Ault of Velocity Retail Group represented Popeye’s in the transaction.  The landlord TPP JV Maricopa, LLC an entity controlled by Trigate Capital was represented by Clift Johnston of Cassidy Turley BRE.  The new building will be 2,951 square feet and be located on a 23,000 square foot parcel fronting Elliot Road and is expected to open by the 4th quarter of this year.

Larry Miller and John Jackson of Velocity Retail Group represented European Wax Center in a 10-year lease of 1,681 square feet at Boardwalk at Anderson Springs located on West Ray Road in Chandler, Arizona. The landlord was represented by Shelby Tworek and Gabe Ortega or NAI Horizon. This is the 18th Valley location for the tenant, and is scheduled to open in August.

Larry Miller and John Jackson of Velocity Retail Group represented Anthem Eastside Shops on the northwest corner of Anthem Way and Venture Drive in Anthem, Arizona in the lease of a 9,145 square foot space to Dollar Tree. The tenant had long attempted to enter the Anthem market, but had been unable to secure quality real estate of sufficient size. The landlord, DPC Development Company, was able to relocate one of their restaurant tenants within the building to create a space for Dollar Tree. Kurt Kalocin of SRS represented the tenant in the 7-year lease. The new store is set to open in April. 

Chip Thor of Velocity Retail Group represented V’s Barber Shop in a 5-year lease for 950 square feet at CityScape at First Street and Washington in downtown Phoenix, AZ.  The landlord was represented by Mike Kallner of Red Development. The new shop is expected to open this month.

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Velocity Retail Group Recent Transactions

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Northsight Crossing

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.  

 

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Velocity Retail Group Recent Transactions

SECGreenfieldandMcKellips_VRGMediaLab

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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