The same question comes up regarding tenant improvements allowance. How does the Landlord calculate the capital / tenant improvement? Improvement allowances are calculated into the lease rate and term. Amortizing capital costs into a lease involves spreading out the cost of an asset over the term of a lease. This is typically done by
Velocity Retail Group is pleased to announce that Old Navy opened a 15,209 square foot location at Mariposa Mall in Nogales, Arizona. The new store opened on February 4th and is stocked with the full line of offerings for ladies, men, and children. Dave Cheatham, Darren Pitts and Bonnie Arlia from Velocity Retail Group
Ashley Outlet recently celebrated their grand opening for a 18,283 square foot store at the Promenade at Casa Grande, 1005 N. Promenade Parkway, #105 Casa Grande, Arizona. This is the 17th Ashley HomeStore in Arizona. The Landlord, Lamar Companies from Fairfield, New Jersey are the owners of the shopping center. Darren Pitts and Bonnie
Velocity Retail Group has recently completed the purchase of a 39,841 SF parcel for their client ICAP Development, LLC. ICAP is a preferred developer for La-Z-Boy which intends to open their 3rd store in the Tucson market at this location. The parcel is located at The Landing at the NWC of Interstate 19 and
Velocity Retail Group, along with Riverway Retail have recently negotiated a new 55,000 square foot lease for Hobby Lobby at Queen Creek Crossing located at the northwest corner of Queen Creek Road and Ellsworth Road in Queen Creek. The newly constructed shopping center will be anchored by Queen Creek’s first Costco store, which is
Velocity Retail Group is pleased to announce the grand opening of American Furniture Warehouse at Christown Spectrum Mall located at 1755 West Bethany Home Road in Phoenix, Arizona. Velocity Retail Group’s Darren Pitts represented American Furniture Warehouse which is based in Englewood, Colorado in the 149,609 square foot lease. The landlord, Christown 1755, LLC,
The 2021 Best of NAIOP awards ceremony honors the past year’s most successful people, companies and projects within the Arizona commercial real estate industry. Over 1,000 commercial real estate professionals attended the event at the Arizona Biltmore on June 9th. Velocity Retail Group’s Dave Cheatham and Darren Pitts received the Retail Broker of the
Velocity Retail Group (VRG), in partnership with CBRE and Ross Brown Partners, listed and recently brokered the sale of the 35.5 acre former Big Surf Wave Park and Inland Oceans Ice Arena to Overton Moore Properties for over $49 million. The Seller was Inland Oceans, Inc., an entity owned by Marvin and Jerry Rosenbaum
Velocity Retail Group announces that that Devona Haddock has joined as the Director of Property Management, and Designated Broker for the firm’s newly launched company, Velocity Management Services. VMS will work with property owners to maximize property value and investment returns, and with retailers to provide property management solutions for their facilities.
A property management company providing exceptional service Velocity Retail Group recently launched a full-service property management company named Velocity Management Services. The group will provide an additional level of support for the firm’s existing clients and extend this reach to property owners seeking to engage the new firm as a property management solution in
