Williamsburg, Virginia: Gerald S. Divaris, chairman/CEO of Divaris Real Estate Inc. (DRE), announced the signing of a lease with Kohl’s Department Stores for 89,911 square feet of retail space for a new prototype store to be constructed at The Marquis in Williamsburg, Va., one of the first “power town��? developments on the Virginia Peninsula.
Founded by the Kohl family in 1962, with one department store in Milwaukee, Wisconsin, Kohl’s currently operates 915 stores in 47 states. Kohl’s is headquartered in Menomonee Falls, Wisconsin. The average Kohl’s store is 86,500 square feet in size and is conveniently located in suburban areas, with easy access and ample parking.
Along with JC Penney, Best Buy and Target, Kohl’s will anchor The Marquis, a one-million-square-foot, mixed-use, open-air entertainment and retail center. Developed by Premier Properties USA Inc., the property is located at the intersection of Interstate 64 and Route 199, adjacent to Water Country USA.
The first phase of The Marquis is scheduled to open in the late fall of 2007. DRE is the exclusive leasing agent for the property.
Mary McGovern, of DRE’s Virginia Beach headquarters, represented Kohl’s in the lease negotiations. Divaris Real Estate is working with Kohl’s in executing its expansion strategy into the major markets of Southeastern, Central and Western Virginia. Gerald Divaris, chairman and CEO, is heading up the team on the Kohl’s account, which includes Brett Womack and Debbie Wake, of the company’s Richmond office, and McGovern.
Divaris Real Estate Inc. is headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport News, and Richmond, Va.; Charlotte and Winston-Salem, N.C.; Atlanta, Ga.; and Rockville, Md. 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 in excess of 25 million square feet of prime office, retail and industrial space throughout the Mid-Atlantic and Southeastern states.
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, as well as tenants and buyers in all aspects of leasing, development and managing properties, acquisitions and land sales. Gerald S. Divaris is chairman of the Board, and Michael B. Divaris is president of Divaris Real Estate Inc.