Divaris Real Estate Announces $17 Million and 134,798 Square Feet in Completed Transactions for April 2018

Posted on May 11, 2018  /  in News Releases  /  No Comments

VIRGINIA BEACH, VIRGINIA: Divaris Real Estate, Inc. (DRE) announces the completion of $16,909,410 transactions totaling 134,798 square feet of sold, leased and renewed commercial property in the Hampton Roads, Richmond, Charlotte, and Washington, DC markets in April 2018.

Sales Transactions

The Broadcast rendering, 4620 Wisconsin Ave NW, Washington, DC

The Broadcast rendering, 4620 Wisconsin Ave NW, Washington, DC

Urban Investment Partners (UIP) purchased Tenleytown office buildings at 4620-4624 Wisconsin Avenue NW in Washington DC from Jay Katzen for $3,300,000. UIP plans to redevelop the property into an eight-floor, 140-unit apartment building to be branded as The Broadcast. The ground floor will offer 12,000 square feet of space for restaurant, bars or a small grocery store. Amit Grover and Joseph Farina brokered the off-market sale on behalf of the buyer.

Lease Transactions

  • A Reddix & Associates leased 6,427 square feet of office space at 5700 Thurston Avenue in Virginia Beach. Krista Costa and Katherine Olson represented the landlord.
  • Novant Medical Group leased 4,000 square feet of retail space in Harper Hill Commons at 5049 Country Club Road in Winston-Salem, NC. Charles Neil represented the landlord.
  • Off The Hook Seafood leased 3,641 square feet of retail space in The Center Shops at 2000 Colley Avenue in Norfolk, Va. George Fox represented the tenant.
  • New Virginia Majority leased 3,450 square feet of office space in the Commons at Plant Zero at 220 Hull Street Road in Richmond. Eric Hammond and Dean Foster represented the landlord.
  • Sierra Club leased 3,274 square feet of office space in Chesterman Place at 100 West Franklin Street in Richmond. Ali McCrickard and Brett McNamee represented the landlord.
  • Party Palace leased 3,000 square feet of retail space in Marlow Heights Shopping Center at 3911 Branch Avenue in Temple Hills, Md. Joe Farina and Chris Saa represented the landlord.
  • Wash Up Cleaners and Laundry leased 2,840 square feet of retail space in the 360 West Shopping Center at 7212 Hull Street Road in Richmond. Sara Goodall represented the landlord.
  • Clean Eatz leased 2,500 square feet of retail space in Haygood Shopping Center at 1021 Independence Boulevard in Virginia Beach. George Fox represented the landlord
  • Apex Management Group leased 2,411 square feet and Live 4 Life leased 2,152 square feet office space in Fountain Park at 9321-9327 Midlothian Turnpike in Richmond. Quality Eco Technologies expanded its existing office space by 360 square feet to a total of 1,943 square feet of office space in Fountain Park. Eric Hammond, John Madures and Dean Foster represented the landlord.
  • Hand & Stone leased 2,345 square feet of retail space in Greenbrier Marketcenter at 142 Greenbrier Parkway in Chesapeake, Va. George Fox represented the tenant.
  • Care Advantage leased 2,008 square feet of office space in Harbour Breeze Professional Center at 1530 Breezeport Way in Suffolk. Krista Costa and Katherine Olson represented the landlord.
  • Green Health Integrative & Wellness leased 1,843 square feet of retail space in Ashdale Plaza at 2898-105 Dale Boulevard in Dale City, Va. Susan McGee and Chris Saa represented the landlord.
  • Noodle Man leased 1,540 square feet of retail space in Haygood Shopping Center at 1021 Independence Boulevard in Virginia Beach. George Fox represented the landlord.
  • Buckley Enterprises leased 1,400 square feet of retail space in Kmart Plaza at 1187 Russ Avenue in Waynesville, NC. Diana Teitsma represented the landlord.
  • Hairlines Salon leased 1,307 square feet of retail space in Lake Shore Plaza at 5193 Shore Drive in Virginia Beach. David Bickford represented the landlord.
  • Howard Varner and Elizabeth Perry-Varner leased 1,299 square feet of office space in Fountain Park at 9327 Midlothian Turnpike in Richmond. Eric Hammond, John Madures and Dean Foster represented the landlord.
  • Joseph P. Errigo leased 1,211 square feet of office space in Building 217 at 146 Bernard Road in Fort Monroe, Va. Elizabeth Napolitano and Chris Bendit represented the landlord.
  • Republic Parking System leased 1,164 square feet of office space at 1206 Laskin Road in Virginia Beach. Vivian Turok and Elizabeth Paasch represented the landlord.
  • Renew Chiropractic leased 1,104 square feet of office space in Huguenot Place at 1520 Huguenot Road in Midlothian, Va. Ali McCrickard represented the tenant.
  • Verbena Askew leased 1,021 square feet of retail space in Harbour Centre at 2 Eaton Street in Hampton, Va. Chris Bendit represented the landlord.
  • Wu Dao Kung Fu USA leased 1,000 square feet and Hairlines Salon leased 800 of retail space in York River Crossing at 2270 York Crossing Drive in Hayes, Va. Mary McGovern and Aeri Jai represented the landlord.
  • Lina’s Beauty Salon leased 915 square feet of retail space in the Shoppes at Lake James at 5347 Lila Lane in Virginia Beach. Kayla Olson represented the landlord.
  • Q-Baton 202 Tu Radio leased 900 square feet of retail space at 1752 Columbia Road, NW in Washington, DC. Rob Gray represented the landlord.
  • Margaret L. Guy leased 461 square feet; Alan D. Entin leased 237 square feet; and Margaret L. Duvall leased 216 square feet of office space in the One Monument Avenue building at 413 Stuart Circle in Richmond. Eric Hammond, Dean Foster and Brett McNamee represented the landlord.

Lease Renewals

  • Old Navy renewed its lease for 24,920 square feet of retail space in Parkridge Center at 11096 Bulloch Drive in Manassas, Va. Initially, Old Navy will occupy the 8,900 square feet it will remit for occupancy by another tenant. When the remaining 16,020 square feet are built out to new Old Navy prototype specs in June 2018, it will move into that space. Gerald Divaris and Joe Farina represented the landlord.
  • Massachusetts Mutual Life Insurance Company renewed its lease for 20,563 square feet of office space in the Armada Hoffler Tower at 222 Central Park Avenue in Virginia Beach. Krista Costa, Vivian Turok and Michael Divaris represented the landlord.
  • Daniel H. Wagner & Associates renewed and expanded office space in Harbour Centre at 2 Eaton Street in Hampton, Va. A lease was renewed for 7,305 square feet and space was expanded by 1,205 square feet. Chris Bendit represented the landlord.
  • Faggert & Frieden, P.C. renewed its lease for 7,011 square feet of office space in the Armada Hoffler Tower at 222 Central Park Avenue in Virginia Beach. Krista Costa, Vivian Turok and Michael Divaris represented the landlord.
  • American Addiction Treatment Center renewed its lease for 3,000 square feet of office space in Liberty Commons at 12695 McManus Boulevard in Newport News, Va. Karen Beale, SIOR represented the landlord.
  • Heron Creek Advisors renewed its lease for 2,843 square feet of office space in Capstone Office Building at 7100 Forest Avenue in Richmond. Harrison Hall and Peter Vick represented the tenant.
  • Smokers World renewed its lease for 1,125 square feet of retail space in Lynnhaven Square at 2077-2085 Lynnhaven Parkway in Virginia Beach. George Fox and Kris Fuller represented the landlord.

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; Beverly Hills, CA; 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 over 36.7 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, (http://www.realtyresources.org/) 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, (http://www.corenetworkcre.org/) 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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