Divaris Real Estate’s Hampton Roads Office Completes Six Transactions for 59,236 Square Feet

Posted on December 15, 2017  /  in News Releases  /  No Comments

VIRGINIA BEACH, VIRGINIA: Divaris Real Estate, Inc. (DRE) announces the completion of six transactions for 59,236 square feet of commercial space throughout Hampton Roads, Virginia.

Sale Transactions

Hampton Roads Crossing, Suffolk, Virginia

Hampton Roads Crossing, Suffolk, Virginia

Freddy’s Frozen Custard & Steakburgers purchased 44,518 square feet of land in Hampton Roads Crossing shopping center located at 1011 University Boulevard in Suffolk, Va for $823,055. DRE’s Levi Thomson brokered the sale on behalf of the seller, Terry/Peterson Investment Thirty, LLC. Hampton Roads Crossing is a Kroger Marketplace-anchored shopping center with tenants that include: DSW, ULTA, Five Below, Petco and Ross Dress for Less.

Richard G. Levin purchased 7,980 square feet of retail space located at 19-21 East Mellen Street in Hampton, Virginia, from BRR Investments for $425,000. DRE’s Missy Martinovich brokered the sale on behalf of the buyer.

Lease Transactions

Fit Body Boot Camp leased 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, Va. Thomson represented the landlord in the lease negotiations. Salem Crossing is anchored by Walmart and Kroger Training Center with outparcels that include McDonalds, Chick-Fil-A, Taco Bell, and Starbucks.

Quality of Life Counseling Center leased 2,400 square feet of office space in the Divaris-leased Executive Cove located at 5602 Virginia Beach Boulevard in Virginia Beach. DRE’s Chris Bendit represented the landlord in the lease negotiations.

Virginia Sports Nutrition leased 1,100 square feet of retail space in the Divaris-leased and -managed Glenwood Shoppes located at 8401 Hampton Boulevard in Norfolk, Va. David Bickford represented the landlord in the lease negotiations. Other tenants in Glenwood Shoppes include: Food Lion, Dollar General, Pizza Hut, Subway and Hair Cuttery.

Lease Renewal

Eclectic Design Florist and Gifts renewed its lease for 777 square feet of retail space in the Divaris-leased and -managed Armada Hoffler Tower 4 located at 222 Central Park Avenue in Virginia Beach. Gerald Divaris, Sezin Cortinas, and Erica Rorrer represented the landlord in the lease negotiations. Other retail tenants in this building in the Town Center of Virginia Beach include: Free People, lululemon athletica, francesca’s, P.F. Chang’s China Bistro, California Pizza Kitchen, Men’s Wearhouse, Cold Stone Creamery, Sumatra Salon and Spa, Just Cupcakes, Town Center City Club, Zushi Japanese Bistro and Mrs. Bones Bowtique.

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 32 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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