BED BATH & BEYOND SIGNS LEASE FOR RETAIL SPACE IN VIRGINIA BEACH, VA’S LANDSTOWN COMMONS

Posted on March 06, 2007  /  in News Releases  /  No Comments

Virginia Beach, Virginia:  Gerald S. Divaris, chairman/CEO of Divaris Real Estate Inc. (DRE), announced the signing of a lease with Bed Bath & Beyond for 28,000 square feet of retail space in Landstown Commons, a  mixed-use development currently under construction at the intersection of Dam Neck and Princess Anne Roads in Virginia Beach, Va.  Bed Bath & Beyond joins Best Buy, Office Max, PetSmart and Ross Dress for Less in anchoring the 490,000-square-foot project.

Founded in 1971, Bed Bath & Beyond is a nationwide chain of superstores selling predominantly better quality domestics merchandise and home furnishings from more than 800 locations.

Gerald Divaris and Mary McGovern, of DRE’s Virginia Beach office, represented Bed Bath & Beyond in the lease negotiations with the landlord, Mountain Ventures Virginia Beach LLC.  McGovern is assisting Bed Bath & Beyond with its expansion plans throughout the Hampton Roads market.  DRE is the exclusive leasing agent for Landstown Commons.
The first phase of The Goodman Company development will open in Fall of 2007, with completion scheduled for March 2008.

Headquartered in West Palm Beach, Fl., The Goodman Company is a real estate development and investment firm specializing in retail commercial development.  It has actively and successfully developed retail and Class A office properties throughout Florida, New Jersey, Ohio and Pennsylvania for over 35 years.

Divaris Real Estate Inc. is headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport News, and Richmond, Va.; Charlotte and Winston-Salem, N.C.; Atlanta, Ga.; and Rockville, Md.  It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 24 million square feet of prime office, retail and industrial space throughout the Mid-Atlantic and Southeastern states.  

    Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers covering 91 major markets throughout the U.S.  DRE is also the Virginia affiliate for The CORE Network, a national group of office and industrial brokers with affiliates throughout the U.S., Canada, Mexico, Asia and Europe.  These organizations represent corporate and institutional clients, as well as tenants and buyers in all aspects of leasing, development and managing properties, acquisitions and land sales. Gerald S. Divaris is chairman of the Board, and Michael B. Divaris is president of Divaris Real Estate Inc.

March 6, 2007

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