Divaris Real Estate’s Richmond Office Completes 11 Transactions Totaling 66,184 Square Feet

Posted on March 29, 2019  /  in News Releases  /  No Comments

RICHMOND, VA: Divaris Real Estate, Inc. (DRE), announced the completion of 11 transactions totaling 66,184 square feet of sold and leased commercial space throughout Virginia.

Sale Transactions

Airport Drive Shopping Center, Henrico, Virginia

Airport Drive Shopping Center, Henrico, Virginia

Airport Drive Real Estate Investment, LLC purchased the 18,000-square foot Airport Drive Shopping Center located at 51-73 South Airport Drive in Henrico, Virginia, from Airport Drive Shopping Center, LLC for $1,610,000.  John Madures brokered the sale on behalf of the seller.  The shopping center is occupied by Subway, Cash Advance, Wells Fargo Bank and Brame Academy.

Fotis Xyderis purchased the 4,400-square-foot office/warehouse property located at 54 Cedar Fork Road in Richmond from Jong K. Lim for $350,000.   John Madures represented the seller in the transaction.   The single-story brick and stucco building is located on Cedar Fork Road at the intersection of Nine Mile Road.

Lease Transactions

W.S. Badcock Corporation leased 15,941 square feet of retail space in the Divaris-leased Gateway Park Shopping Center located at 1301 West Broad Street in Waynesboro, Va.  Sara Goodall and Brett McNamee represented the landlord in the lease negotiations.  The furniture store joins Dollar General, Boost Mobile and Little Caesar’s Pizza in Gateway Park.

Southside Vapor & Skilled Games leased 4,400 square feet of retail space in Irongate Village Shopping Center located at 6403 Ironbridge Road in Richmond.  Peter Vick, Harrison Hall and Eric Hammond represented the landlord in the lease negotiations.

Shaheen, Ruth, Martin & Fonville (SRMF) Real Estate leased 3,000 square feet of office space in the Divaris-leased former BB&T Bank located at 9004 Huguenot Road in Richmond.  Read Goode and Cheryle Toy represented the landlord in the lease negotiations.   This is the company’s third office, in the former BB&T bank in the front of the Stony Point Shopping Center.

Pikasso Swig leased 1,500 square feet and JBD Catering “Soul Food Station” leased 1,301 square feet of retail space in the Divaris-leased 5th Street Station located at 5th Street at Interstate 64 in Charlottesville, Va. Larry Agnew represented the landlord in the lease negotiations. Other tenants in 5th Street Station include: Wegmans, Haverty’s, Field & Stream, Dick’s Sporting Goods, Planet Fitness, Alamo Drafthouse Cinema, A.C. Moore, PetSmart, Timberwood Grill, Panera Bread, Dollar Store, Hand and Stone, GNC, Hair Cuttery and Great Clips.

Southern Trust Mortgage leased 1,034 square feet of office space in the Divaris-leased property located at 1919 Huguenot Road in North Chesterfield, Va.  Eric Hammond represented the landlord in the lease negotiations.

Lease Renewals

Motion Industries renewed its lease for 10,000 square feet of industrial space located at 3719 Tom Andrews Road in Roanoke, Va.   Sam McCoy represented the tenant in the lease negotiations.

The Virginia Center for Policing Innovation renewed its lease for 5,122 square feet of office space in the Divaris-leased One Monument Avenue Building located at 413-421 Stuart Circle in Richmond. Eric Hammond and Dean Foster represented the landlord in the lease negotiations.

Edward D. Jones renewed its lease for 1,486 square feet of office space in the Divaris-managed Cloverhill Medical Center located at 13841 Hull Street Road in Midlothian, Va.  Eric Hammond, Peter Vick and Harrison Hall 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; Washington, DC; and Beverly Hills, CA.  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 approximately 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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