At 41,750 square feet, it is nearly twice as large as the company’s typical store. This location carries Mega Furniture’s traditional line of fine home furnishings and accessories, as well as a full line of outdoor and patio furniture in addition to an expanded selection of contemporary and modern furnishings.
“Mesa Pavilions shopping center is part of a dynamic retail hub for the southeast Valley. Mega Furniture’s store is a fantastic compliment to the center. We are looking forward this spring to the opening of WinCo Foods, which will bring tremendous activity to the entire intersection,” said Dan Lupien, Senior Director of Real Estate for Kimco Realty Corporation.
Dave Cheatham, Managing Principal of Velocity Retail Group negotiated the transaction on behalf of the Tenant. “Mega Furniture is one of the fastest growing furniture chains in the Phoenix area. This newest location is well positioned to meet the needs of the expansive east Mesa trade area,” said Cheatham.
The Mesa location compliments another store recently opened in the southeast Valley, which is located in Gilbert at the southeast corner of Germann Road and Gilbert Road adjacent to Hobby Lobby. Both stores are already the top performing stores in the chain.
About Mega Furniture: Mega Furniture began in 2003 with one store in West Phoenix. Today, the company has eight locations. The company is owned by two entrepreneurial-minded brothers, and focuses on offering low-cost, high-quality furniture. The concept revolves around meeting the customers’ desire for good bargains. The founders, Saleem ‘Rick’ and Karim ‘Nick’ Kanjiyani, attribute Mega Furniture’s recent growth to customer satisfaction coupled with their ability to provide quality at a discount. They provide customers’ with discounts because of Mega Furniture’s elevated purchasing power. In the past three years, in the teeth of the recession, the brothers opened six of their eight Mega Furniture stores.
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Dave Cheatham Dave Cheatham is an accomplished authority on retail real estate in the disciplines of brokerage, project leasing, development, consulting and advisory services. He is a senior advisor to merchants, entrepreneurs, investors and senior retail executives throughout the industry. |