Divaris Real Estate’s Hampton Roads Office Completes Six Transactions Totaling 11,611 Square Feet

Posted on May 21, 2018  /  in News Releases  /  No Comments

VIRGINIA BEACH, VIRGINIA: Divaris Real Estate, Inc. (DRE) announces the completion of six transactions for 11,611 square feet of new and renewed commercial space throughout the greater Hampton Roads, Virginia market.

Lease Expansion

4525 Main Street

4525 Main Street, Virginia Beach, VA

Mythics, Inc. signed a lease expanding its existing premises by 3,996 square feet of office space in the Divaris-leased and -managed 4525 Main Street in The Town Center of Virginia Beach. The Oracle systems integrator, consulting firm, managed services provider and platinum-level member of Oracle PartnerNetwork leased approximately 39,000 square feet in the building in 2017.  Mythics currently occupies the top floor of the building and the majority of the eighth floor.  Michael Divaris and Krista Costa represented the landlord while Vivian Turok represented the tenant in the lease negotiations.

With this latest lease, 4525 Main Street will be 95 percent occupied with only one 9,600-square-foot space, less than half of the eleventh floor, still available. With only a few large blocks of office space available throughout Town Center, the project is now approximately 95 percent occupied throughout. The demand for space in the city’s Central Business District has precipitated the planning of a new building in the final remaining area for development in Town Center, at Block 2, on Virginia Beach Boulevard immediately west of the Armada Hoffler Tower.

Lease Transactions

FedEx Office and Print Services leased 2,571 square feet of retail space in Midtown Row located at 220 Monticello Avenue in Williamsburg, Va. David Redmond represented the tenant in the lease negotiations.

Cell 24 Connect leased 1,400 square feet of retail space in Oyster Point Plaza located at 318 Oyster Point Road in Newport News, Va. Eric Hammond and Dean Foster of the Richmond office of DRE represented the tenant in the lease negotiations.

Cell 24 Connect leased 1,400 square feet of retail space located at 3102 High Street in Portsmouth, Va. Eric Hammond and Dean Foster represented the tenant in the lease negotiations.

Cell Phone Repair leased 1,260 square feet of retail space in the Divaris-leased Victory Crossing shopping center located at 4006-A Victory Boulevard in Portsmouth, Va. George Fox represented the landlord in the lease negotiations. Other tenants in Victory Crossing include Farm Fresh and Lowe’s Home Improvement.

C&K Systems leased 984 square feet of office space in the Divaris-leased Windwood Centre located at 780 Lynnhaven Parkway in Virginia Beach. Vivian Turok and Elizabeth Paasch represented the landlord in the lease negotiations.

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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