Divaris Completes Five Transactions Totaling More Than 28,000 Square Feet

Posted on October 06, 2014  /  in News Releases  /  No Comments

VIRGINIA BEACH, VIRGINIA: Gerald S. Divaris, chairman and chief executive officer of Divaris Real Estate, Inc., announced the completion of five leases in the greater Richmond, Virginia area.

Rite Aid, Inc. renewed its lease for 13,652 square feet in the Divaris-leased and –managed 360 West Shopping Center, located at 7228 Hull Street Road. Lease negotiations were handled on behalf of the landlord, 360 West Shopping Center, by Sara Goodall of DRE’s Richmond office. Rite Aid operates approximately 4,600 stores in 31 states and the District of Columbia.

Boathouse Restaurant leased 5,800 square feet of retail space in SShort Pump Town Center, located at 11800 West Broad Street in Richmond. Lease negotiations were handled on behalf of the tenant by Brett McNamee of DRE’s Richmond office. This is the Boathouse’s fourth Richmond restaurant, all centered on water and top dining destinations. The Boathouse will join Crate and Barrel, Saxon Shoes, Macy’s, Dick’s Sporting Goods, Lululemon, Chico’s and Pottery Barn at the Short Pump Town Center.

Men’s Wearhouse leased 4,800 square feet of retail space at the Commonwealth Center, located at 4740 Commonwealth Centre Parkway, in Midlothian. The lease negotiations were handled on behalf of the tenant by Brett McNamee, of DRE’s Richmond office. Men’s Wearhouse has six Richmond locations and recently acquired Jos. A. Bank, which has three Richmond locations.

Jaun Valle leased 2,355 square feet of industrial space in the Divaris-leased and -managed Belt Trade Center, located at 133 E. Belt Boulevard. The lease negotiations were handled on behalf of the landlord, South Belt Flex, by John Madures of DRE’s Richmond office. The space will be used as an auto body repair shop.

Virginia League of Conservation Voters leased 1,442 square feet of office space in the Chesterman Building, located at 100 West Franklin Street. The lease negotiations were handled on behalf of the landlord, Douglas Development Corporation, by Brett McNamee and Suzanne White of DRE’s Richmond office. The Virginia League of Conservation Voters serves as the political voice of the state’s conservation community.

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 in excess of 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.

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