Velocity Retail Group Sells Shopping Center for $8.3 Million

/Velocity Retail Group Sells Shopping Center for $8.3 Million

Velocity Retail Group’s Brian Gast, Senior Vice President represented the buyer in the $8.3MM investment sale of Mountain View Marketplace, located at 3131 E. Thunderbird Road in Phoenix. Fortis Development, LLC of Arizona purchased the center which totals approximately 172,000 square feet. The Seller was Mountain View Shopping Plaza, L.P. a California limited partnership.

The shopping center included a vacant Safeway store, which Velocity Retail recently leased to VASA Fitness. Other tenants include a Walgreens and a host of restaurants and service related businesses serving the surrounding community. VASA Fitness will be 55,000 square feet and is expected to open in October 2019.

“The new owners have plans to redevelop and refresh the center with a new color scheme, signage, parking lot and lighting as well as updated architectural features,” said Gast.

Brian Gast, Senior Vice President, Velocity Retail Group
2018-12-10T14:05:09+00:00

About the Author:

mm
Tony has been in the technology business for nearly 18 years. Of those 18 years, 11 of them have been served in commerical real estate companies like CB Richard Ellis, Staubach Retail, and Velocity Retail Group. Tony has touched nearly every facet of the technology industry from desktop support to building networks and phone systems to programming proprietary transaction and customer relationship management applications. In his current position with Velocity Retail,Tony continues to develop cutting-edge software applications that enable our brokerage teams to manage transactions to completion, focus on the details and report on the success. He's also developed a proprietary application platform that actively integrates our clients into the transaction. Via the browser, our clients can collaborate around the locations and requirements in the context of an online, digital map. As a media professional, Tony continues to produce our amazing videos, photos, websites and other online media. A proven leader and strong support of not-for-profit organizations, Tony serves on the Board of Directors for Desert Heights Charter Schools in Glendale, AZ., where he has maintained an executive position since 2009. He also enjoys a position within the Velocity Retail media group as a photographer and film-maker for Northrise University in the country of Zambia.