Velocity Retail Finalizes Banana Republic Biltmore Area Location 1

Velocity Retail Group’s Dave Cheatham and Darren Pitts represented Banana Republic, LLC, a brand of Gap Inc in a 5,500 square foot location at the Shops at Town & Country, located at the southeast corner of Camelback Road and 20th Street. The Landlord, Town and Country Camelback, LLC was represented by Mike Kallner of RED Development.

Banana Republic will join its sister company Athleta, which opened in the project during the fall of 2017 and was also finalized by the Velocity Retail team. These two stores are part of Gap’s off-mall initiative to bring their traditional mall-only concepts into locations where shoppers frequent more for daily needs, discount and specialty stores. “This is the third Gap concept we have brought to the intersection. Twenty-five years ago when Old Navy was first launched by Gap, we found the real estate for their second national location at the Colonnade Mall across the street,” said Dave Cheatham, President of Velocity Retail Group. Town & Country Shopping Center is iconic and unique to the Valley and Banana Republic and Athleta are complementary additions to the tenant mix which includes Nordstrom Rack, Trader Joe’s, F-21, Snooze and Hopdoddy to name a few. The new store is expected to open in the fall of 2019.

Velocity Retail Group has represented the Gap brands for nearly 25 years and has identified locations for dozens of Old Navy, Athleta, Banana Republic and Gap stores throughout the Valley. Banana Republic was founded in 1978 and acquired by Gap Inc in 1983. There are currently about 700 locations worldwide.