Divaris Real Estate Completes 16 Office / Retail Leases in Hampton Roads

Posted on March 11, 2011  /  in News Releases  /  No Comments

Town Center of Virginia Beach Inks Deals for 56,418 Square Feet

Virginia Beach, Virginia:  Michael B. Divaris, president of Divaris Real Estate Inc. (DRE), announced the following lease transactions were completed for over 83,000 square feet of office and retail space in Hampton Roads, Virginia.

THE TOWN CENTER OF VIRGINIA BEACH:

Hankins & Anderson, Inc. leased 23,267 square feet of office space in Armada Hoffler Tower, located at 222 Central Park Avenue in Virginia Beach. Michael Divaris, Vivian Turok and Krista Costa of the Virginia Beach office of Divaris Real Estate, Inc. handled the lease for the landlord, Armada Hoffler Tower 4, LLC.  Hankins & Anderson, a Richmond, Virginia-based multidiscipline consulting engineering firm that specializes in the design of building systems and sites for new and renovated construction worldwide, is new to The Town Center of Virginia Beach.  The highly successful, mixed-use Town Center is the core of the City’s Central Business District. The project is being developed by the principals of Armada Hoffler Holding Company and Divaris Real Estate, Inc. Spanning over 17 city blocks, The Town Center provides a mix of Class A office, multilevel upscale retail, deluxe residential, The Sandler Center for the Performing Arts and an array of cafes, restaurants and deluxe business hotels.  The Town Center of Virginia Beach is leased by Divaris Real Estate Inc. and is managed by Divaris Property Management Corp.

First Command Financial Services, leased 4,218 square feet in the Divaris-leased and –managed One Columbus Center, the first high-rise office building in The Town Center of Virginia Beach.  First Command offers financial services to military professionals and federal employees. Michael Divaris, Turok and Costa handled the transaction for the landlord, Columbus Tower, LLC.

Stephens Financial Partners, LLC, leased 2,750 square feet of office space, also in One Columbus Center.  DRE’s Michael Divaris, Turok and Costa handled the deal for the landlord.

Massachusetts Mutual Life Insurance has signed a lease for 2,588 square feet of expansion space to their existing space in The Town Center of Virginia Beach’s Armada Hoffler Tower.  The company also signed a lease renewal agreement for 12,039 square feet of Class A office space in the iconic, 21-story office tower. Michael Divaris, Turok and Costa represented the landlord in this lease transaction as well.

UBS Financial Services renewed their lease for 7,872 square feet in One Columbus Center. Divaris, Turok and Costa handled the transaction for the landlord.

Havana Nights, leased 2,442 square feet of restaurant space in the northeast corner of the Westin Hotel and Residences building.  The restaurant specializes in Cuban cuisine, with a full menu for dine-in for both lunch and dinner; a bar and jazz entertainment lounge featuring live and pre-recorded music; and a cigar club and lounge, operated on a private or public basis.  The Westin is not only the tallest building in The Town Center of Virginia Beach, but also in the Commonwealth of Virginia.  Gerald Divaris, ceo of  Divaris Real Estate, Mary McGovern, Sezin Cortinas and Erica Meekins of the retail sales and leasing division in the Virginia Beach office of DRE, represented the landlord, Town Center Associates 7, LLC., in the lease transactions.

Just Cupcakes, leased 1,242 square feet of retail space on the first floor of the Armada Hoffler Tower, on the corner of Town Center Drive and Virginia Beach Boulevard.  This is the second Virginia Beach location for the business that bakes and sells gourmet cupcakes and other baked goods and beverages to eat in, take out or have delivered.  The landlord, Armada Hoffler Tower 4, LLC., was represented by Gerald Divaris, McGovern, Cortinas and Meekins.

OTHER LEASES THROUGHOUT HAMPTON ROADS:

Branch Banking and Trust Company, BB&T, renewed its lease for 7,613 square feet of office space located at 500 Crawford Street in Portsmouth, Virginia.  The tenant was represented in the lease negotiations with landlord, 500 Crawford Street, LLC, by Michael Divaris and Krista Costa.

Didlake, Inc. renewed their lease for 4,373 square feet of office space at the Divaris-leased and –managed Southport Trade Center, located at 349 Southport Circle in Virginia Beach.  The lease negotiations were handled by Turok.

COECO Office Systems, Inc. leased 3,600 square feet of office space in Lynnhaven Commerce Park, located at 417 South Lynnhaven Road in Virginia Beach.  Turok and Elizabeth Newbill of the Virginia Beach office of DRE, represented the tenant in the deal with landlord Beachtowne Realty Corporation.

Tidewater Home Mortgage Group leased 2,213 square feet in the Divaris-leased and –managed Thalia One office building, located at 4164 Virginia Beach Boulevard in Virginia Beach.   The Tenant was represented by DRE’s Erica Meekins, while the landlord, Beach Municipal Federal Credit Union, was represented by Vivian Turok, also of Divaris.

CeoTronics, Inc. leased 2,045 square feet of office space in South Lynnhaven Office Building located at 512 South Lynnhaven Road in Virginia Beach.  Krista Costa of DRE’s Virginia Beach office, represented the tenant in negotiations with landlord, South Lynnhaven Office Building, LLC.

National Art Association of Virginia leased 2,000 square feet in the Northampton Business Center, located at 1209 Baker Road in Virginia Beach.  Costa represented the tenant, while the landlord was Northampton Business Center Associates.

Custom Maid renewed its lease for 2,000 square feet of office space in the Divaris-leased and –managed Independence Business Centre located at 420 Investors Place in Virginia Beach.  Divaris Real Estate represented the landlord, SIBASA Investments.  Also in Independence Business Centre, Old Dominion Lighting has renewed its lease for 2,639 square feet of office space.

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 24 million square feet of prime office, retail and industrial space throughout the Mid-Atlantic and Southeastern states.  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 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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