by Nick Law In January, the tech world got a jolt when a Chinese AI startup, DeepSeek, unveiled a new large language model that reportedly operates at a much lower cost than its U.S. competitors. DeepSeek claims it spent only $5.6 million to train its AI, while OpenAI’s GPT-4 reportedly cost over $100 million.
New 14-Acre Project to Bring Retail Opportunities to Rapidly Growing Corridor Brian Harpel (Senior Vice President of Velocity Retail Group), Paige Keefer (Senior Associate at Velocity Retail Group), Walter Hoge (President and Co-Founder of Rio West Development & Construction, Inc.), Bradley Hoge (Vice President and Co-Founder of Rio West Development & Construction), Eli
Velocity Retail Group is pleased to welcome Chris Evjen as a Vice President and Account Manager with the firm. With over 25 years of experience in retail real estate, Chris brings a wealth of knowledge and expertise to the team. His background includes serving as a real estate manager for major retailers and working in
This year, we have the privilege of celebrating a remarkable milestone: Bonnie Arlia's 25th anniversary with Velocity Retail Group. Since joining us in 2000, Bonnie has been an invaluable leader, partner, and resource to our clients and team. Her deep expertise in transaction management, market planning, tenant representation, real estate strategy, and leadership has
Velocity Retail Group is pleased to welcome Joe Hoye as a Vice President with the firm. Joe is a respected professional in the commercial real estate arena and brings a diverse background in retail real estate brokerage to his role at Velocity Retail. With nearly two decades of industry experience, Joe will utilize his
Velocity Retail Group is excited to announce the addition of Christopher Gerardo to our team as Senior Vice President. With over three decades of experience in retail real estate, Chris brings unparalleled expertise in leasing, development, and strategic consulting to our growing organization. Chris has been a trailblazer in the retail real estate sector,
Hobby Lobby, the nationally recognized arts and crafts retailer, is marking a significant milestone in its Arizona expansion with the opening of its 24th store in the state. The new location is situated in The Village at Prasada, a bustling shopping center located at the southeast corner of Waddell Road and Loop 303 in
Velocity Retail Group is thrilled to announce the grand opening of the 23rd Hobby Lobby store in Arizona, located at 1727 W. Bethany Home Road, Phoenix. This new 60,000 square foot store offers a vast selection of arts, crafts, home décor, and school supplies, making it a one-stop-shop for all your creative and practical needs. Positioned next to the recently opened Burlington Stores and surrounded by major tenants like Harkins Theater and Target, this Hobby Lobby is set to become a central hub for local shoppers. Read on to discover more about this exciting addition to Phoenix's retail landscape and the dedicated team behind its success!
At the 2024 Best of NAIOP Awards ceremony, Velocity Retail Group’s Dave Cheatham and Darren Pitts received the Retail Broker Team of the Year award. The event honors the year’s most successful projects, companies, and individuals within the commercial real estate industry. Over 700 commercial real estate professionals attended the event at the JW
Velocity Retail Group LLC is pleased to announce the sale on April 3, 2024 of 14-acre Heritage Park commercial development site, located at the southeast corner of Tangerine Road & Lon Adams Road, Marana, AZ, for $3,800,000 ($6.23/SF). The transaction was brokered by Brian Harpel and Eli Castronova of Velocity Retail Group LLC. The
