Phoenix – GDC/RE has just leased another “big box” space in its listing portfolio. With the completion of a transaction with Epic Stores, LLC, the firm leased up the 47,036 square foot former Safeway grocery store at the northeast corner of 19th Avenue & Union Hills Drive. That transaction also marked the tenth lease of over 10,000 square feet completed by the Phoenix based real-estate company in the last 12 months.
“Arizona has been seen as the poster child of big-box vacancy in recent years; however, I’m proud to say that our firm has re-tenanted every anchor and other large-format space in our portfolio. In many cases, we leased box space that had been vacant for years,” says Joe Doucett, co-founder and designated broker of GDC/RE. One example of this is a former Linens n Things box at Yuma Palms in Yuma, Arizona. GDC/RE took on the listing of that center in 2012 and within less than a year leased the 24,943 square foot space that had been vacant since 2008. “Our leasing team produced multiple offers from national retailers for the space, thus ensuring our client, Inland Continental, was able to secure the best possible deal for the project.”
GDC/RE’s successes can be attributed in part to the unique methodology they implement in their leasing program, producing creative, proactive solutions tailored to meet or exceed the goals of the client. Engaging with their clients on a constant basis is the foundation and hallmark of this process, eliciting a focused and productive strategic plan. “There is no such thing as over-communication where our clients are concerned,” says co-founder, Tim Gunnink. “They rely on our being present and available for day-to-day communications, but also to be engaged in a way that produces creative solutions for their real-estate requirements.”
Some of GDC/RE’s box-listing clients have included Donahue Schriber, Retail Properties of America, Inc., Inland Real Estate Group of Companies, Barclay Group, SyWest, Litwin Management and Pac West Development; major retailer clients over 10,000 square feet include Blast! Fitness, Beall’s Outlet, Family Thrift Stores and Turn Style Consignment Stores.
For more information on GDC/RE’s retail property leasing and sales capabilities, retailer representation or consulting services, reach Joe Doucett or Tim Gunnink at 602-368-3555. For more information on GDC/RE, please visit GDCRE.com, or follow on Twitter @GDCRE.