The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from Aug. 20 thru 24, 2018.

RETAIL – 2970 E GERMANN RD., STE C-103, CHANDLER
Brian & Tom Woods of Colliers International represented Vestar, the landlord on a ten-year lease with Broken Yolk at Crossroads Towne Center at 2970 E. Germann Road, Suite C-103, Chandler, AZ, 85286 for 4,951-square-feet.  Greg Laing of Phoenix Commercial Advisors represented the Tenant.  Signed in August 2018.

RETAIL – 288 E GREENWAY PKWY., STE 101, PHOENIX
Brian Woods of Colliers International represented Nexus, the landlord on a ten-year lease with Grand Nails Lounge at Bell Towne Plaza at 288 E. Greenway Parkway, Suite 101, Phoenix, AZ, 85022 for 2,180-square-feet.  Matt Bustamante of Realty One Group represented the tenant.  Signed in August 2018.

RETAIL – 20022 N 67^TH AVE., STE C-302, GLENDALE
Brian Woods of Colliers International represented the landlord, Sunbelt Investment Holdings, Inc., on a ten-year lease with Avalon Nail at Village at Arrowhead at 20022 N. 67^th Avenue, Suite C-302, Glendale, AZ, 85308 for 1,220-square-feet.  Matt Bustamante of Realty One Group represented the tenant.  Signed in August 2018.

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Scottsdale, Arizona — Del Pueblo Communities, Scottsdale, AZ paid $1.6 million ($20.52 PSF) to acquire 1.79 acres located at the SEC Hayden Road & Virginia Avenue in Scottsdale.

The property is currently being planned for a single-family attached development. The seller of the transaction was Harper’s on Hayden LLC.

Richard Arambula and Dan Krantz of City to City Commercial Real Estate in Scottsdale represented the Buyer. Daniel Gardiner and Greg Laing of Phoenix Commercial Advisors represented the Seller.

For more information, contact Arambula or Krantz at 480-355-2222.

Phoenix, Arizona –  Velocity Retail Group has leased a vacant Fry’s Food & Drug store at the southeast corner of Bell Road and 7^th Street.  The Fry’s expanded and relocated further east along Bell Road earlier this year.  The 48,000-square-foot vacant big box will be split to accommodate two national retailers.  Marshalls will occupy 23,475-square-feet of the building, and Michaels will take 25,324-square-feet.

This is just one of over a dozen big box transactions completed this year by the team at Velocity Retail Group who specialize in big box leasing for both owners and retailers.  Dave Cheatham, president of Velocity Retail Group commented, “This is an excellent in-fill location for both retailers, and a great solution for this vacant big box at a high-profile corner in north Phoenix”.

Cheatham, and Darren Pitts of Velocity Retail, along with Jeff Dinsmore from Jones Lang LaSalle’s Boston office worked on behalf of Fry’s / Kroger to lease the building.  The tenants were represented by Phoenix Commercial Advisors, Greg Laing and Dan Gardiner.  After the building is remodeled for the tenants, they expect to open by the 4^th quarter of 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.