VIRGINIA BEACH, VA – Gerald S. Divaris, chairman and chief executive officer of Divaris Real Estate, Inc., announced the signing of Five Below for 7,732 square feet of retail space in Wards Crossing West, located at 475 Simons Run, in Lynchburg, Virginia. This will be the first location of Five Below in the market. The retailer offers merchandise $5 and less for teens and pre-teens. Five Below was founded in 2002 and has grown to more than 300 stores in 19 states.
The lease negotiations were handled on behalf of the tenant by Sara Goodall of the Divaris Real Estate Richmond office. DRE is the exclusive tenant representative for Five Below in the southwest Virginia region. Five Below is one of more than 75 retailers nationwide that are represented by Divaris in their search for new sites.
Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; and metropolitan 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.