27 02, 2013

Accelerated Development Launches Asset Management Division

By |2019-05-22T13:44:19-07:00February 27th, 2013|Development|0 Comments

Accelerated Development today announced the formation of an Asset Management Division.  This new division is designed to further enhance the firm’s offering as it continues to serve the needs of its individual and institutional partners.  The purpose is to provide owners with the strategic direction and services that will maximize the value of each property.  In addition, it will enable the delivery of an even more sophisticated level of managing, leasing and construction supervision with a higher level of accountability. In order to provide leadership and focus to the new division, Accelerated concurrently announces the appointment of Debbie Mitten as Asset Manager for the firm.   With nearly two decades of experience in commercial real estate, Debbie has a well-rounded background suited to bringing a seamless [...]

22 02, 2013

Accelerated Development Expands into Albuquerque New Mexico Market with Recent Target Power Center Acquisition

By |2019-05-22T13:44:19-07:00February 22nd, 2013|Development|0 Comments

Accelerated Development partnered with Q Real Estate to acquire a 143,557 square foot Power Center in Albuquerque, New Mexico. The project is shadow anchored by Target and the group plans to remodel and re-tenant the shopping center. Drawing on a past equity relationship, from their Cypress Equities days, Accelerated sourced the opportunity for its partnership with Q Real Estate of Fort Worth, Texas. Tommy Ellis, who was formerly with The Carlyle Group, now runs Q’s Real Estate investment platform. “We worked well together during our partnership with Cypress Equities West and were pleased to have the opportunity to do so again,” said Pat Sauer, Vice President of Accelerated. “There is a tremendous amount of team work necessary to redevelop a major project. It’s great to [...]

19 02, 2013

Accelerated Completes 10,000 Square Foot Rehab on Bank Foreclosure in Logan Utah

By |2019-05-22T13:44:19-07:00February 19th, 2013|Development, Partnership, Uncategorized|0 Comments

Accelerated Development, through their joint venture with Wadsworth Development recently completed the purchase of a 10,000 square foot building at 1145 N. Main Street in Logan, Utah.  The highly visible building is in the heart of the retail district. Before Development After Redevelopment Located just south of the Cache Valley Mall and across from Home Depot, the building had gone through foreclosure and was lender owned.  Pat Sauer of Accelerated Development commented on the acquisition, “We thought this building would work for one of our retailers.  When working with the lenders we typically have to close very quickly, as lenders are interested in price, but they are even more interested in certainty.”  After a short due diligence period, the group closed on the property, [...]

15 01, 2013

Accelerated Development Redevelops Flagstaff Mall Property

By |2019-05-22T13:44:19-07:00January 15th, 2013|Development, Partnership|0 Comments

Accelerated Development along with its Joint Venture partner Wadsworth Development recently completed the redevelopment of the 12,000 square foot former Designs West furniture store in Flagstaff, Arizona. Located along US Highway 89 at the main entrance to the Flagstaff Mall, the building was in need of a facelift, parking improvements and a complete remodel.  Accelerated had several leasing options ranging from fast food, general retail, banks, and a national brand coffee shop.  Due to the high profile location, visibility and regional nature of the property, Mattress Firm wanted to lease the entire 12,000 square feet for a Northern Arizona flagship store. Darren Pitts of Velocity Retail Group represented Mattress Firm in the transaction and commented on the location, “We’ve been trying to secure a prominent location [...]

9 01, 2013

Accelerated Development Buys High Profile Site in Chandler, Arizona

By |2019-05-22T13:44:19-07:00January 9th, 2013|Development, Partnership|0 Comments

Chandler, AZ – Just before the holiday break, Wadsworth Development and Accelerated Development closed on 1.7 acres of raw land at the southwest corner of Germann and Gilbert in Chandler, Arizona. The partnership closed the deal under their joint venture agreement with Salt Lake City-based Wadsworth and was a 1031 exchange. Interested parties ranging from sit-down restaurants, fast food uses, to shop tenants have expressed interest in the development. Exxon Mobil owned the land for years and had originally intended to build a gas station on the property. Since they’ve exited the retail fuel business, they put the land on the market for sale and had multiple legitimate suitors. Dave Cheatham with Velocity Retail Group represented the buyer and commented on the sale, “This was a very [...]