Velocity Retail Group, LLC completed 14 transactions in August totaling nearly 450,000-square-feet. A summary of each transaction follows:
Darren Pitts of Velocity Retail Group and ARCORE Real Estate Group’s Al Rodenbostel of Oak Brook, Illinois represented The Dump, a subsidiary of Haynes Furniture, Inc. in a 139,265 square foot retail store located at 2860 S. Highland Avenue in Lombard, Illinois. The building was a former Great Indoors. The same team also finalized a 215,400 square foot warehouse to support the new store at 180 N. Meadow in Addison, Illinois. This is the single largest retail transaction in the Chicago-land market in the past 18-months.
Andy Kroot of Velocity Retail Group represented Goodwill of Central Arizona in a new 10-year lease at Goodyear Centerpointe at 15433 W. McDowell Road, in Goodyear, Arizona. The 30,256 square foot new store will also have a full career center.
Darren Pitts, Michael Clark and Nick Ault of Velocity and Chad Moore and Jeff Harrison from Mountain West Retail in Utah represented the Tenant, Mattress Firm, Inc. in a 10-year lease at 1122 S. University in Provo Utah. The former Fazoli’s building is located in Provo Towne Center. The store is expected to open in the 2nd quarter of 2014.
Desert Sky Animal Hospital will be opening a 2,100 square foot location at Arrowhead Vista’s shopping center located north of the northeast corner of Bell Road and 51st Avenue in Glendale, Arizona. John Morrow of Professional Practice Consultants represented the Tenant in the five-year transaction. Larry Miller and Jim Edwards of Velocity Retail represented the Landlord, Arrowhead Properties, LLC.
Mattress Firm leased a 5,064 square foot building from Madison Development at 4456 E. Thomas Road in Phoenix. Both parties were represented by Darren Pitts, Michael Clark, and Nick Ault of Velocity Retail Group. The store is expected to open during the first quarter of 2014 after the owner finalizes retrofit work in the building.
Goodwill of Central Arizona leased a 19,290 square foot building from San Tan Village Investors, LLC at 2756 S. Market Street in Gilbert, Arizona. The tenant was represented by Andy Kroot of Velocity Retail Group in the 10-year transaction. The new store will be a “Goodwill Redesign” concept.
Sasha Bella Day Spa was represented by Velocity Retail’s Michael Clark, John Jackson and Nick Ault in a 1,400 square foot 5-year transaction at Township Plaza at the southwest corner of Baseline and Gilbert Roads. The Landlord is an entity managed by Desert Troon Companies of Scottsdale. The location is expected to open in October of this year.
Mattress Firm leased a 4,000 square foot building in the newly constructed San Dorado retail center at Oracle and 1st Street in Oro Valley, Arizona. The tenant was represented by Darren Pitts and Michael Clark of Velocity Retail Group and the landlord was represented by Teale Bloom of Phoenix Commercial Advisors. The store is expected to open in the first quarter of 2014. For more information on San Dorado https://realestatedaily-news.com/cvs-and-shop-tenants-committ-to-san-dorado-in-oro-valley/
Biscuits Café Inc. leased a 2,876 square foot space at 414 West University Drive in Tempe, Arizona. Velocity Retail Group’s Andy Kroot represented the tenant in the 5-year transaction. This will be the third store for the restaurant in the Phoenix area, with more in the works. The location is expected to open in the 3rd quarter of this year.
Jim Edwards, Larry Miller and John Jackson of Velocity represented the landlord, Pacific West Land, LLC in a 975 square foot lease to Black Tie Cleaners. The new store will be located in the Fry’s anchored Corona del Sol shopping center at the southeast corner of Ray and Rural Roads in Chandler, Arizona.
Mattress Firm leased a 3,285 square foot building from SKM Peterson LC at 6520 North Highway 224 in Park City, Utah. The tenant was represented by Chad Moore and Jeff Harrison of Mountain West Retail in Utah, and Darren Pitts, and Michael Clark of Velocity Retail. This will be the first location for Mattress Firm in Park City and the store is expected to open during the first quarter of 2014.
Goodwill of Central Arizona is opening a 1,331 square foot donation center in the Maricopa Fiesta shopping center at the southwest corner of John Wayne Parkway and State Route 238 (Smith Enke Road) in Maricopa, Arizona. Andy Kroot of Velocity Retail represented the Tenant.
Velocity Retail Group is headquartered in Phoenix, Arizona, and provides a full range of commercial real-estate services including leasing and selling of shopping centers, tenant representation, consulting, investment consulting, development to retail tenants, and redevelopment to owners of retail real estate throughout the West. For more information, visit www.velocityretail.com or call (602) 682-8100.