It has been a long ten years, but the vacancy rate for the Phoenix retail market has returned to levels not recorded since 2008. As of the second quarter 2018 the vacancy rate is 7.8%. Compared to 2008 when the vacancy was 7.9%. This improvement is remarkable as our market still
Dave Cheatham, President, Darren Pitts, Executive Vice President and Bonnie Arlia, Senior Vice President of Velocity Retail Group recently finalized a lease of 12,500 square feet on behalf of Old Navy. The new store will be located in the Queen Creek Marketplace shopping center located at the southwest corner of Rittenhouse
Prime Sleep, a new mattress concept for Arizona recently opened their first Phoenix area store at 15811 N. Frank Lloyd Wright Boulevard. The chain will open over a dozen stores throughout Phoenix in the next 18 to 24 months. Currently they have 10 stores in Kansas City, Missouri. Gary Cary, CEO
Velocity Retail Group celebrated the ribbon cutting of the “Teen Den” for the Child Life program at Maricopa County Integrated Health Systems. The Velocity Charities Committee launched the Teen Den project about two years ago after completing a toy drive for the Child Life Program at MIHS. Kyla Mohney, Child Life
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
Velocity Retail Group recently finalized a lease on behalf of Old Navy at Superstition Gateway shopping center in Mesa. Dave Cheatham, President and Darren Pitts, Executive Vice President represented Old Navy in the transaction. Brian Gast, Senior Vice President represented the Landlord, DTL-SGW, LLC and DTR1C-SGW, LLC. This will be the 19th
Velocity Retail Group recently completed over 30 transactions totaling nearly 1 million square feet of retail space, land and big boxes. Following are a few highlights of some of the activity: Velocity recently completed its 3rd new location for Kay Jewelers in Arizona. Dave Cheatham, Darren Pitts and Morgan Danhoff represent
Velocity Retail Group has sold a vacant Fry’s Food & Drug store at the southwest corner of Apache Trail and Idaho in Apache Junction. Fry’s recently expanded and relocated to the northeast corner of the same intersection with a new Marketplace concept. The 62,602 square foot vacant big box was purchased by Simon
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
Velocity Retail Group recently finalized two separate transactions with Old Navy and Athleta, which are part of Gap, Inc. Brands. Dave Cheatham, President and Darren Pitts, Executive Vice President for the firm have represented this retailer for over two decades in the Arizona Market. Athleta currently has over 130 stores across the
