Queen Creek, Arizona -- Dave Cheatham, President, Darren Pitts, Executive Vice President, and Bonnie Arlia, Senior Vice President of Velocity Retail Group 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, Vestar QCM, LLC, 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.
“Old Navy will be a great complement to the shopping center which is anchored by Target and Kohl’s. The trade area has grown nearly fifty percent in the past five years. This store rounds out our east valley market strategy and will be a welcome addition for the Queen Creek community,” said Cheatham. It was 25 years ago that Dave Cheatham began working with Gap, Inc. on all of their concepts throughout their Arizona market. The Velocity Retail team is responsible for putting the first Old Navy in Phoenix in 1994, when the brand was first launched.
This is the third Old Navy store the team has completed in the past year and represents another big box leased in the Valley. Velocity Retail has leased more big boxes than any other firm in the market.