VIRGINIA BEACH, VIRGINIA: Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc. (DRE), announced the signing of a lease with home furnishings retailer West Elm at Town Center of Virginia Beach. The first West Elm store in the Hampton Roads market will be located on Main Street on the first floor of the newly constructed 4505 Main Street Tower, next to the recently announced Anthropologie store.
Since its launch in 2002 in Brooklyn, New York, West Elm has been helping people express their personal style at home with authentic, affordable, and approachable products. With a focus on making things that matter, the brand collaborates with independent artists and craft communities to create statement pieces and seasonal collections that make a positive impact on people and the environment. West Elm offers a complete assortment of products for the home including furniture, bedding, bathroom accessories, rugs, curtains, lighting, decorative accessories, dinnerware, kitchen essentials and gifts. A grand opening for West Elm in Town Center is expected to take place in 2015.
“West Elm epitomizes the quality of product and service that attracts shoppers who live, work and play at The Town Center of Virginia Beach,” says Gerald Divaris. “It’s a perfect complement to our growing and exciting retail tenant mix.”
This is the sixth new tenant to reveal its opening in the fifth phase at the Town Center of Virginia Beach. Recent announcements of new retailers to join the mixed-use development include Anthropologie, Free People, lululemon athletica, francesca’s and Twist Martini. Additional new tenants, primarily fashion, soft furnishing and gift/accessories retailers, will be announced in the very near future.
Gerald Divaris and Sezin Cortinas handled the lease negotiations on behalf of the landlord, Armada Hoffler Properties, Inc. The Town Center of Virginia Beach is leased by Divaris Real Estate, Inc., and managed by Divaris Property Management Corp.
“The new roster of stores will draw consumers from throughout the region.” added Cortinas.
Other noted retailers in The Town Center include Brooks Brothers, LOFT, Origins, Cache’, Johnston & Murphy, Sunglass Hut, Men’s Wearhouse, bevello, Louis Jones Art Gallery, and Dick’s Sporting Goods. Recent openings include Destination Maternity and IT’SUGAR. Spanning over 17 city blocks, the highly successful, mixed-use Town Center is the core of the City’s Central Business District. The project is being developed by Armada Hoffler Properties, Inc. The Town Center provides a mix of multilevel upscale retail, Class A office, luxury residential, The Sandler Center for the Performing Arts and an array of cafes, restaurants and deluxe business hotels.
About Divaris Real Estate
Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; and Washington, DC. 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 approximately 23 million square feet of prime office, retail and industrial space from New Jersey to Florida. Gerald S. Divaris is Chairman of the Board, and Michael B. Divaris is President of Divaris Real Estate, Inc.
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, tenants and buyers in all aspects of leasing, development, management, sales and acquisitions.
About Armada Hoffler Properties, Inc.
Armada Hoffler Properties, Inc. is a full service real estate company with extensive experience developing, building, owning and managing high-quality, institutional-grade office, retail and multifamily properties in attractive markets throughout the Mid-Atlantic United States. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.