Velocity Retail Group’s Darren Pitts, Executive Vice President, represented At Home (NYSE: HOME) in the purchase of 5.88 acres of land in The Groves shopping center located at the northwest corner of Elliot Road and Hardy Drive in Tempe, Arizona. Existing tenants in the shopping center include Wal-Mart Supercenter, Ross
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
Ashley HomeStore held their grand opening for the newest Arizona location at 3090 Gateway Boulevard in Prescott. The 42,000 square foot store welcomed a crowd of eager shoppers after the ribbon cutting. The location is immediately adjacent to Prescott Gateway, the area’s only enclosed regional mall. Darren Pitts of Velocity
Velocity Retail Group recently finalized the first two ground leases for Valvoline Instant Oil Change™ as part of their new market expansion into the Phoenix metroplex and the State of Arizona. The company is the second largest quick lube chain in the U.S. with currently 1,150+ locations in 46 states.
Velocity Retail Group completed the $2,876,000 NNN investment sale of two ground leased properties at the Heritage Square shopping center in Queen Creek. The parcels are located at the southeast corner of Rittenhouse Road and Ellsworth Road in Queen Creek. The shopping center is a joint venture between Wadsworth Development Group
Velocity Retail Group announces the hiring of Mark Villalpando as Senior Vice President and Designated Broker of the firms newly launched Velocity Management Services division. The division will work with our new and existing clients to maximize property value and investment returns. In addition, Mark will be the Senior Vice President
Darren Pitts, Executive Vice President of Velocity Retail Group represented Life Time Athletic in an 80,000 square foot lease at Biltmore Fashion Park at Camelback Road and 24th Street in Phoenix, Arizona. The club is expected to open in the fall of 2019. It is currently under construction on the east
Darren Pitts, Executive Vice President at Velocity Retail Group and Dave Cheatham, President at Velocity finalized the 23,975 square foot lease for Goodwill at the southeast corner of Ray and Rural Roads in Chandler. This transaction represents another big box leased by the Velocity Retail team. The space was a
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
