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 in the Flagstaff market for some time and were glad to be able to provide such a high-profile site for Mattress Firm in a very tight retail market.”
Pat Sauer of Accelerated Development added, “When the opportunity was identified, we were confident that the quality of the site and strength of the market would allow us to secure leases in a short time frame.” Sauer added, “Originally Mattress Firm was interested in a portion of the building, but after the tenant analyzed the site further, it was determined that they would like to occupy the entire building.” About half of the building is being used as a retail showroom, with the rest being utilized to stock product for delivery in the region. This redeveloped asset was sold at year-end to a private investor.
Accelerated Development has multiple projects underway in Arizona, Utah, New Mexico and Texas, and is actively seeking properties to provide quality solutions for retailers. This property definitely fit the bill for Mattress Firm and certainly places them in a great location within the Flagstaff market.