Richmond, Virginia: Brett Womack, Principal of Divaris Real Estate, Inc.’s Richmond, Virginia office, announced the signing of a lease with Big Lots Stores, Inc. for 26,537 square feet of retail space in the Divaris leased and managed Midlothian Crossing, located at 8533A Midlothian Turnpike in Richmond, Virginia. This is a lease renewal for Big Lots space in the shopping center which is also anchored by Unfinished Furniture Mart and Goodwill.
Big Lots offers the budget-conscious consumer a broad range of quality and name-brand closeout merchandise and furniture at exceptional values. All Big Lot merchandise is priced 20 to 40 percent below most discount retailers and up to 70 percent below traditional retailers. More than 1,300 closeout stores now operate in 46 states under the following brand names: Big Lots, MacFrugal’s, and Pic ‘N’ Save. Big Lots has more than 65 freestanding Big Lots Furniture stores and over 500 furniture departments located within closeout stores.
Brenda Martin, of DRE’s Richmond office, represented the Landlord, Midlothian Associates, L.P., in the negotiations.
Divaris Real Estate, Inc. is headquartered in Virginia Beach, Virginia with offices in Norfolk, Chesapeake, Newport News, and Richmond, Virginia; Charlotte, North Carolina; Atlanta, Georgia; Rockville, Maryland; and Boca Raton and Tampa, Florida. It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 23 million square feet of prime office, retail, and industrial space throughout the Mid-Atlantic and Southeastern states. Divaris Real Estate, Inc. is a member of Realty Resources, a national group of independent retail property brokers and managers covering 75 major markets throughout the United States. DRE is also the Virginia affiliate for The CORE Network, a national group of full-service commercial 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.
April 26, 2002