francesca’s to Open in Town Center of Virginia Beach

Posted on July 16, 2014  /  in News Releases  /  No Comments

VIRGINIA BEACH, VIRGINIA:  Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc. (DRE), announced the signing of a lease with francesca’s for approximately 1,830 square feet of retail space in the Town Center of Virginia Beach.

francesca’s will be located on Main Street in the first floor retail space of the Armada Hoffler office tower block.  The boutiques offer jewelry, fashion accessories, apparel, footwear and gift items including picture frames, candles, and home accessories.  The grand opening for francesca’s in Town Center is expected to occur during the First Quarter of 2015.

“francesca’s ever-changing merchandise will give the Town Center shopper a new experience with almost every visit.  Their boutique setting will complement the existing shops in the center and those that are soon to come.  I am pleased to welcome them to the Town Center of Virginia Beach,” said Erica Meekins Rorrer, vice president of retail leasing in the Virginia Beach office of DRE.

This is the fifth retailer to reveal its opening in the fifth phase at the Town Center of Virginia Beach. Recent announcements of new retailers to join the mixed-use development include Anthropologie, Free People, lululemon athletica and Twist Martini and Associates.  Additional new tenants, primarily fashion and soft furnishing retailers, will be announced in the near future.

“We are thrilled to confirm that francesca’s will join the exciting and new retail roster at The Town Center.  They are extremely popular and a highly sought-after national retail tenant,” says Divaris.

Rorrer handled the lease negotiations on behalf of the landlord, Armada Hoffler Properties, Inc.  The Town Center of Virginia Beach is leased by Divaris Real Estate, Inc., and managed by Divaris Property Management Corp.

Other noted retailers in The Town Center include Brooks Brothers, LOFT, Origins, Cache’, Johnston & Murphy, Sunglass Hut, Men’s Wearhouse, bevello, MOXI and Dick’s Sporting Goods.  Destination Maternity and IT’SUGAR opened earlier this year.  Spanning over 17 city blocks, the highly successful, mixed-use Town Center is the core of the City’s Central Business District. The project is being developed by Armada Hoffler Properties, Inc. The Town Center provides a mix of multilevel upscale retail, Class A office, luxury residential, The Sandler Center for the Performing Arts and an array of cafes, restaurants and deluxe business hotels, including the Westin Hotel, Ruth’s Chris Steak House, Yard House, McCormick & Schmick’s Seafood Restaurant, Cheesecake Factory and P.F. Chang’s China Bistro.

About Francesca’s Holdings Corporation

Houston, Texas-based francesca’s,® (Nasdaq:FRAN),  is a growing specialty retailer with retail locations designed and merchandised to feel like independently owned, upscale boutiques providing customers a fun and differentiated shopping experience. The merchandise assortment is a diverse and balanced mix of apparel, jewelry, accessories and gifts. Today francesca’s® operates 519 boutiques in 46 states and the District of Columbia . For additional information on francesca’s®, please visit www.francescas.com.

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; 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 approximately 23 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, 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, 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.

About Armada Hoffler Properties, Inc.

Armada Hoffler Properties, Inc. is a full service real estate company with extensive experience developing, building, owning and managing high-quality, institutional-grade office, retail and multifamily properties in attractive markets throughout the Mid-Atlantic United States. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.

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