Velocity Retail Group Leases 55,000 SF Big Box in Phoenix

/Velocity Retail Group Leases 55,000 SF Big Box in Phoenix

Velocity Retail Group’s Brian Gast, Senior Vice President represented the landlord, Fortis Development in negotiating a 55,000 square foot VASA Fitness in a former Safeway grocery store at 3131 E. Thunderbird Road in Phoenix.

Russ Posorske, founder of Fortis Development commented on the transaction, “The Safeway center was put on the market when they vacated the store for a larger format and newer location at Greenway and Tatum.  Brian did an outstanding job in identifying the opportunity for us and helping to put the deal together.”

“VASA Fitness is opening in an established shopping center which is well located to serve this vibrant north Phoenix market,” said Gast.  VASA is planning on opening in the second quarter of 2019 in this location.  Their plans are to further expand throughout Phoenix.  The tenant is represented by Eric Termansen and Bryan Babits of Western Retail Advisors.

This transaction is one of over two dozen big box transactions completed by Velocity Retail Group this year.  The firm continues to lead the retail market in big box leasing and sales and looks forward to continuing to serve its expanding retailers at the highest level.

 

We Know Boxes.

2018-09-17T14:25:54+00:00

About the Author:

Since joining Velocity Retail Group in 2000, Bonnie has become a leading resource for our clients in the areas of transaction management, market plan implementation, real estate committee approval and space delivery coordination. She dedicates herself to supporting retail clients in all aspects of their real estate expansion process. Recently, her role has expanded and she is also leading our corporate marketing, business development, public relations and social media initiatives.