Divaris Real Estate’s Hampton Roads Office Completes Five Transactions Totaling 31,443 Square Feet

Posted on May 23, 2019  /  in News Releases  /  No Comments

VIRGINIA BEACH, VIRGINIA: Divaris Real Estate, Inc. (DRE) announces the completion of five transactions totaling 31,443 square feet of new and renewed commercial space in the Hampton Roads market.

Sales Transaction

Hampton Roads Crossing, Suffolk, VA

Hampton Roads Crossing, Suffolk, VA

Panera, LLC purchased 1.1 acres of land in Hampton Roads Crossing located at 1009 University Boulevard in Suffolk, Va from Terry/Peterson Investment Thrifty, LLC. for $950,000. The fast-casual bakery-café will build an approximately 4,500-square-foot location on the outparcel land.  Panera Bread will close its nearby Harbour View East café.   Levi Thomson represented the seller in the transaction.  Other tenants in the Kroger Marketplace-anchored Hampton Roads Crossing include: DSW, ULTA, Petco, Five Below, Michael’s, Bayport Credit Union, LensCrafters, American Family Care, MOD SuperFast Pizza, Texas Roadhouse, The Village Inn, Zaxby’s and Freddy’s Frozen Custard and Steakburgers.

Lease Transactions

Howard Hanna Real Estate Services leased 15,531 square feet of office space in the Pembroke Office Park located at 291 Independence Boulevard in Virginia Beach.  Jason Oliver, CCIM represented the tenant in the lease negotiations.

The Spa at East Beach with Regina leased 1,600 square feet of office space located at 4486 Pleasant Avenue in Norfolk.  Krista Costa and Nicole Campbell represented the landlord in the lease negotiations.

Lease Renewals

Morton G. Thalhimer renewed its lease for 7,632 square feet of office space in the Divaris-leased and -managed Armada Hoffler Tower located at 222 Central Park Avenue in the Town Center of Virginia Beach.  Michael Divaris, Vivian Turok and Krista Costa represented the landlord in the lease negotiations.

7 Cities Vapes renewed its lease for 2,380 square feet of retail space in the Divaris-leased York River Crossing located at 2353 York Crossing Drive in Hayes, Va.  Aeri Jai and Mary McGovern represented the landlord in the lease negotiations.

About Divaris Real Estate

Divaris Real Estate, Inc. (http://www.divaris.com/) 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 30 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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