Velocity’s Darren Pitts and Bob Crum of Ross Brown Partners represented La-Z-Boy Furniture Galleries of Arizona, in the purchase of a 1.65 acre parcel at 5584 E. State Route 69, Prescott Valley, Ariz. Located in the Crossroads Shopping Center in Prescott Valley, this will be the furniture retailer’s newest location in Northern Arizona.
The seller in the transaction, Kitchell Development Company, was represented by Greg Laing of Phoenix Commercial Advisors. La-Z-Boy will construct a 14,000 +/- square foot building on the parcel, which is situated directly on Highway 69 at the main entrance to Hobby Lobby and Home Depot.
Darren Pitts, executive vice president with Velocity Retail Group has worked with Ed Breunig, CEO for several years during La-Z-Boy’s market expansion throughout Arizona. “This is a highly visible parcel in the heart of Prescott Valley’s newest shopping center development that boasts over 1.3 million square feet of retail across both sides of Highway 69. Our new store will be perfectly positioned within this retail corridor and will be a great addition to the retailer line-up serving Prescott and the surrounding area,” said Pitts.
Ed Breunig commented, “This store will be our 10th location in Arizona and will also have the full complement of La-Z-Boy offerings for our customers including design services, and personal shopping.” The new location is expected to open in September of 2016.