The REstoreD division was recently featured in a GlobeSt.com article, which explains how the group analyzes and provides adaptive re-use solutions for vacant and obsolete big box retail. The REstoreD division is “Rethinking the Box” to bring creative solutions to shopping centers with vacant Big Boxes. “We are excited to have Mike bring his diverse skills and relationships to Velocity. To be a solution on these big boxes, we have to focus on adaptive solutions which require bringing together team members with multi-disciplined skill sets in real estate including academic, public or private entities, and alternative real estate specialties” said Dave Cheatham, Managing Principal at Velocity Retail Group.
“Our group is pleased to have someone of Mike’s caliber join us. His leadership during our tenure at CBRE produced several of the highest performing teams in the nation. His deep relationships in the Phoenix business community are integral in launching this new initiative,” added Darren Pitts, Executive Vice President & Principal at the firm.
Cheatham, Fitz-Gerald, and Darren Pitts, Executive Vice President and Principal at Velocity created the division as they realized there was a change occurring within the retail industry. With increased overall vacancy and big box vacancies increasing at an unprecedented rate, they’ve searched for answers. Their research uncovered 253 vacant boxes over 10,000 square feet in metropolitan Phoenix alone.
For Fitz-Gerald, he is focused on the structural changes occurring within the markets. REstoreD was launched out of an emerging need in the retail real estate industry. “We are reinventing what it means to be a real estate service provider, and communicating creative ideas to our clients,” said Fitz-Gerald. “I am excited to be part of this venture and bring strategic solutions to the market.”
Contact Fitz-Gerald at 602-682-8140 or email@example.com.