Velocity Retail Group completed the investment sale of a multi-tenant retail building at 7650 West Bell Road in Glendale, Arizona. The building was a joint venture between Wadsworth Development Group and Accelerated Development Services who purchased and redeveloped the building in 2016. The building was originally built in 1994 as a Just for Feet shoe…
Phoenix, Ariz. (Nov. 30, 2017) – The Arizona chapter of NAIOP, the commercial real estate voice for the state, elected its 2018 officers and board members at its October 19 board meeting. 2018 NAIOP-AZ officers are Chairman of the Board, Andrew Cheney, Lee & Associates Arizona; Vice Chairman, Molly Carson, Ryan Companies US, Inc.; Secretary,…
Velocity Retail Group recently finalized another big box transaction in a former Henry’s Market at the southwest corner of Bell Road and Reems Road in Surprise, Arizona. Planet Fitness will occupy the 27,059 square foot space and be the 22nd store in the Arizona market for the chain. Darren Pitts, Executive Vice President and Brian…
Velocity Retail Group recently promoted Heather Prinsloo to Associate, Marketing Coordinator for their Corporate Services Division. She started with the company in August of 2015. This new role will expand Heather’s client services responsibilities by working closely with Dave Cheatham and Darren Pitts and providing support for our key-client accounts and making certain that crucial…
Velocity Retail Group welcomes Eli Castronova to the organization as a Senior Vice President for Investments & Capital Markets. His nearly two decades of extensive experience and accomplishments within the investment arena, successfully securing debt and equity financing for a variety of projects, and development services compliment the current offerings within Velocity Retail. Eli’s focus…
Velocity Retail Group has leased a vacant Fry’s Food & Drug store at the southeast corner of Bell Road and 7th Street. The Fry’s expanded and relocated further east along Bell Road earlier this year. The 48,000 square foot vacant big box will be split to accommodate two national retailers. Marshalls will occupy 23,475 square feet…
Velocity Retail Group was invited to present on the retail panel during AZRE magazine’s recent Fall Forum. The panel was moderated by Pete Bolton, of the Pete Bolton Company, and included Dave Cheatham from Velocity Retail Group, Bob Mulhern from Colliers International, and John Carlson of Mark-Taylor Residential. The panel was asked to discuss recent…
Velocity Retail Group’s Darren Pitts represented At Home in the purchase of 8.54 acres in the San Tan Pavilions shopping center located at the southwest corner of Williams Field Road and San Tan Village Parkway in Gilbert, Arizona. The seller of the property was San Tan AZ, LLC, an entity controlled by Intercapital Development, Inc. based in…
Alexa, driverless cars, computer phones that enable mobile communication, data access, virtual assistants that are really productive. All of the above and many other new technology that is dramatically changing our lives are here or will be in the next few years. And yet, John Michaelson with Michaelson Capital Partners is predicting a new Supercycle…
Velocity Retail Group’s Dave Cheatham represented Hobby Lobby Stores, in a lease at the Scottsdale 101 shopping center located at the northwest corner of Mayo Boulevard and Scottsdale Road. The 57,500 square foot store is expected to open in the first quarter of 2018. The store will be adjacent to a newly designed Ashley Furniture…