VIRGINIA BEACH, VIRGINIA: Divaris Real Estate, Inc. (DRE) announces the completion of a retail lease with New York’s iconic burger, hot dog and frozen custard stand, Shake Shack for 3,403 square feet of retail space in the Columbus Village Shopping Center under redevelopment in the Town Center of Virginia Beach. The Divaris leasing team of Sezin Cortinas, Gerald Divaris, and Erica Rorrer represented the landlord in the lease negotiations.
“Shake Shack is the first tenant to commit to lease space in what will ultimately be a redeveloped Columbus Village shopping center at the Town Center of Virginia Beach. We are in discussions with a number of other tenants, inclusive of the existing occupants, and expect to finalize plans for enhancing the center later this year,” said Lou Haddad, president and CEO of Armada Hoffler Properties, Inc. (NYSE: AHH)
Kristyn Clark, Senior Manager of Brand Communications at Shake Shack confirmed: “Yes, Shake Shack is coming to Virginia Beach — we can’t wait! The Shack will be located at 296 Constitution Drive.” The modern day “roadside” burger stand, known for exceptionally long lines of patrons, will be part of a 150,000-square-foot real estate deal at the southeast corner of Constitution Drive and Virginia Beach Boulevard. Other tenants in Columbus Village include Barnes and Noble Booksellers, Five Below, ULTA, Bed Bath & Beyond, and Regal Cinemas.
Shake Shack is known as a leader of the “better burgers” – better-tasting, high-quality burger chains founded by celebrated chefs. Danny Meyer, its founder, is a three Michelin star, James Beard Award-winning restaurateur whose credits include Eleven Madison Park, and is ranked number four on the 2018 World’s 50 Best Restaurant list.
The Shake Shack began as a hot dog stand in Manhattan’s Madison Square Park in 2001 and has since expanded to over 20 states and 12 countries including the United Kingdom, Russia, Japan and Saudi Arabia. Other Virginia locations of Shake Shack include McLean and Arlington in the Northern Virginia suburbs of Washington, DC.
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.