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 adding…
Velocity Retail Group in partnership with Ross Brown Partners recently facilitated the purchase of a 13.2 parcel of land at the southwest corner of Ray Road and Higley Road in Gilbert, AZ. The land is at the intersection of the highly desirable master planned development of Agritopia. Darren Pitts, Executive Vice President and Brad Ranly,…
EoS Fitness has opened their newest club in Chandler, Arizona. Velocity Retail Group’s Dave Cheatham, Darren Pitts, Brian Gast and Brad Ranly represented the Landlord, FAE Ray & Rural, LLC in the 38,253 square foot lease to EoS Fitness at the southeast corner of Ray Road and Rural Road in Chandler, Arizona. The owners of…
Commercial retail veteran Rick Francis has joined Velocity Retail Group as a Vice President for the firm. As a top producer in the retail arena, Rick has a deep background that is focused on servicing the needs of retail shopping center owners, retailers and investors. He has established a reputation for getting results in successfully…
Velocity Retail Group’s Dave Cheatham, Darren Pitts, Brian Gast, and Brad Ranly represented the landlord, FAE Ray & Rural, LLC in a 38,253 square foot lease to EoS Fitness at the southeast corner of Ray Road and Rural Road in Chandler, Arizona. The owners of the building, Wadsworth Development Group in a joint venture partnership…
Brian Gast of Velocity Retail Group represented the Tenant, Central Christian Church in a 17,200 square foot least in Royal Palms Plaza located at the southeast corner of Elliot Road and McClintock Road in Tempe, Arizona. The Landlord was Michael Pollack of Pollack Investments, Mesa, Arizona The church signed a ten-year lease in the…
Darren Pitts, Brian Gast and Brad Ranly of Velocity Retail Group represented the Landlord, C & H Development Company in a 14,412 square foot lease at Scottsdale Commons shopping center located at the southwest corner of Shea Boulevard and Scottsdale Road. Kitchen United, Inc. will be occupying the vacant space adjacent to BevMo. The tenant…
Brian Gast has been promoted to Executive Vice President and Principal at Velocity Retail Group. Brian started with Velocity Retail in 2014 and has been one of the top performers every year since he joined the firm. For 2018, he achieved the status of a million dollar producer for the second consecutive year. “Brian continues…
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…
Wadsworth Development Group in partnership with Accelerated Development Services held a ribbon cutting and grand opening ceremony today at The Crossing at Sahuarita Shopping Center in Sahuarita, Arizona. The 150,000 center boasts a Sprouts Farmers Market, TJ Maxx, PetSmart, Beall’s Outlet, and several restaurants and shops to compliment the diverse tenant mix. The project…