Divaris Completes Leases for Over 80,000 Square Feet of Retail Space

Posted on April 12, 2012  /  in News Releases  /  No Comments

Virginia Beach, Virginia: Gerald S. Divaris, Chairman of Divaris Real Estate Inc. (DRE), announced the following lease transactions were completed for several retail tenants:

A lease extension was signed with Tidewater Finance Company for 25,516 square feet of retail space in the DRE-leased and –managed Tidewater Plaza located at 6528 East Indian River Road in Virginia Beach. David Redmond, of the Virginia Beach office of Divaris, represented the landlord, Westview Plaza Associates, LLC.

Big Lots Stores, Inc. renewed its lease for 26,537 square feet of retail space in Midlothian Crossing located at 8533 Midlothian Turnpike in Richmond, VA. The Divaris-leased and –managed shopping center is anchored by Goodwill, Unfinished Furniture, Family Dollar and Stuffy’s. Another lease renewal was signed with Richard A. Williams and Douglas E. Anderson, doing business as Genuine You Salon, for 2,400 square feet of retail space. Sara Goodall of the Richmond office of Divaris Real Estate, represented the landlord, Midlothian Associates, L.P. in both of the lease negotiations.

Oakboro Tractor & Equipment, Inc. leased 9,090 square feet of retail space in the Divaris-leased and –managed Food Lion Shopping Center located at 734 Cabarrus Avenue in Concord, NC. Teitsma represented the landlord, Food Lion, LLC, in the transaction. She also represents Food Lion in the surplus disposition of over 20 properties throughout the Southeast.

StellarOne Bank has signed a lease for 5,441 square feet of first floor retail space in the Divaris-leased and –managed Six Columbus Center building located at 4505 Columbus Street in Virginia Beach. The landlord, Five Columbus Center Associates was represented in the negotiations by Erica Meekins and Elizabeth (Newbill) Paasch.

Keagan’s Irish Pub renewed its expanded premises in Town Center of Virginia Beach at 4560 Bank Street. Gerald Divaris, Meekins and Burnell represented both the landlord, Greenbrier Technology Center II and the tenant, VP Pub LLC., in the lease for 1,996 square feet in the Divaris-leased and –managed mixed-use Town Center. Coffee Etc, Inc. also completed a lease for 1,623 square feet in the 17-city block Town Center, located at 168 Central Park Avenue in Virginia Beach. Divaris represented the landlord, Town Center Block 10 Apartments, and Meekins handled negotiations on behalf of the tenant.

TitleMax of Virginia, Inc. leased 3,924 square feet of retail space in the Divaris-leased Brookhill Azalea Shopping Center located at 5330 Chamerlayne Road in Richmond. The anchor tenants in Brookhill Azalea include Food Lion, Cititrends, Jackson Hewitt and Small Smiles. Goodall represented the landlord, Mighty Oak, LLC in the lease.

RadioShack Corporation has renewed its lease for 2,461 square feet of retail space in the Divaris-leased and –managed Salem Crossing Shopping Center located at 2029 South Lynnhaven Parkway in Virginia Beach. Burnell and Thomson represented the landlord, Elias Properties, Salem Crossing, LLC.

R and R Home Repair, Inc., leased 1,945 square feet of retail space in the Divaris-leased Kemps Corner Shoppes, located at 5300 Kempsriver Drive in Virginia Beach. Eric Bucklew, vice president and general broker in DRE’s Virginia Beach office, represented the landlord, RT Virginia Holdings, LLC., in the lease negotiations.

Divaris Real Estate Inc. is headquartered in Virginia Beach, VA with offices in Chesapeake, downtown and suburban Norfolk, Newport News, and Richmond, VA; Charlotte, NC 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 30 million square feet of prime office, retail and industrial space from New Jersey to Florida.  

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 across the country. These organizations represent corporate and institutional clients, 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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