Phoenix, Arizona — Velocity Retail Group’s Brian Gast has leased a 37,343-square-foot vacant big box to Lina Home Furnishings. This will be the 4th location in the Valley for this successful furniture chain. The store is located at the southwest corner of Ray Road and 48th Street in the Ahwatukee Foothills Towne Center in Phoenix, Arizona. The former tenant was Ashley Home Store. DDR Corp. based in Beachwood Ohio is the Owner and Landlord for the shopping center.
This is just one of many big box transactions completed by the team at Velocity Retail Group who specialize in big box leasing for both owners and retailers. Brian Gast, Senior Vice President of Velocity Retail Group commented, “This is a strong retail corridor in Ahwatukee with very little vacancy. This has been a targeted expansion area for Lina and we are pleased to be able to open in such a vibrant and dynamic shopping center.” The new store is expected to open in March 2018.
Velocity Retail Group provides our clients with a dedicated research department that tracks the activity of over 4100 buildings totaling nearly 173 million square feet of retail throughout the Phoenix metropolitan area. Our research includes retail buildings 10,000-square-feet and over and specializes in big box research. If you are an investor or retailer looking to expand contact Velocity Retail Group for expert consultation and information to help you make your real estate decisions.