Biltmore Square Mall Renews Six Tenants

Posted on December 05, 2008  /  in News Releases  /  No Comments

Charlotte, North Carolina: Diana Teitsma, director of the Charlotte office of Divaris Real Estate, Inc. (DRE), announced the renewal of six leases in the Divaris-leased and-managed Biltmore Square Mall, located at 800 Brevard Road in Asheville, NC.

Shoe Show, Inc. doing business as Shoe Department renewed their lease for 4,598 square feet.  Founded in 1960 in Kannapolis, NC, Shoe Show’s success has been based on a simple formula of providing quality products, service and value.  Over the past 45 years Shoe Show has continued to grow with stores named Shoe Show, the Shoe Dept. and Burlington Shoes. Currently Shoe Show has 1,123 locations in 36 states.

Walden Book Company, Inc. doing business as Waldenbooks renewed their lease for 3,614 square feet.  Waldenbooks operates book, music and movie superstores and mall-based bookstores. The company is based in Ann Arbor, Mi. and operates as a subsidiary of Borders Group, Inc.

RadioShack Corporation renewed their lease for 1,920 square feet.  The first RadioShack store opened in 1921 in Boston, Ma. The company has a presence through almost 6,000 company-operated stores and dealer outlets in the US and more than 700 wireless phone kiosks.

Regis Corporation renewed leases for Regis Salon for 1,288 square feet and Mastercuts for 992 square feet. Regis Corporation is a multibillion-dollar enterprise with an impressive history of profitable growth and is the industry’s global leader in beauty salons, hair restoration centers and cosmetology education. With a track record of adding between 500 to 1,000 locations annually, they own, franchise or hold ownership interests in over 13,600 locations in North America, Europe and Asia.

Sbarro, Inc. renewed their lease for 764 square feet.  Sbarro’s roots go back to 1956, when Gennaro and Carmela Sbarro and their family immigrated to America to pursue the American dream of owning a successful business. Their Sbarro Italian Delicatessen was well received and was the first of what would grow to become some 1,000 Sbarro restaurants. The company’s 8,000 employees, continue the tradition of providing authentic Italian dishes and flavors in Sbarro restaurants around the world. Sbarro offers sumptuous entrees, pizza, pastas, salads, sandwiches, and homemade desserts. Today, Sbarro is owned by MidOcean Partners, a premier private equity firm.

These tenants join over 60 national and local stores in Biltmore Square Mall, including Belk, Dillard’s, Cinebarre Theatre, and Davis Furniture. Biltmore Square, which opened in 1989, is a 494,000-square-foot enclosed regional mall in Asheville, NC.

The landlord, Biltmore Eight, LLC, was represented in the lease negotiations by Diana Teitsma, director and Chris Sheppard, retail leasing associate in DRE’s Charlotte, NC office.

Divaris Real Estate Inc. is headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport News, and Richmond, Va.; and Charlotte, N.C.; and Rockville, Md.  Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, 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.

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