Virginia Beach, Virginia: Gerald S. Divaris, President of Divaris Real Estate, Inc., announced that L.L. Bean signed a lease for 75,000 square feet at Tysons Corner Center located in McLean, Virginia.
L.L. Bean will join five other anchors (including Nordstroms and Lord & Taylor), and more than 230 specialty stores and restaurants at Tysons Corner Center, which, with a total of 1.91 million square feet, is the largest mall in the Washington D.C. area and the 9th largest in the country. Speciality stores include Restoration Hardware, Crate & Barrel, Banana Republic, Liz Claiborne, Coach and Williams-Sonoma.
This is the first time since L.L. Bean opened 87 years ago, that the company is extending its retail store presence. Founded in 1912 in Freeport, Maine by Leon Leonwood Bean, L.L. Bean is a leading manufacturer and retailer of more than 16,000 outdoor products, ranging from apparel to fishing rods. Although the bulk of their business is conducted through catalogs, the company has a flagship store of 100,000 square feet and a 12,000 square foot Kid’s store in its headquarters town of Freeport, Maine. There are nine factory outlet stores in Maine, New Hampshire, Delaware and Oregon, and 16 licensed retail stores in Japan.
L.L. Bean decided to expand its retail store business last year as part of the company’s strategic review. The mid-Atlantic region became the focus of an initial launch due to the many catalog subscribers in the Virginia area. “The new store will be a catalog showcase where our unique product selection will be at the fingertips of our active outdoor customers in the Virginia area,” says Bill Shea, L.L. Bean’s Senior Vice President of Retail. “The store gives us the opportunity to penetrate a new region with hopes of increasing our customer concentration to levels similar to what we have in New England.”
Construction on the new L.L. Bean store is scheduled to begin this fall, and the grand opening is planned for July, 2000. Gerald Divaris is working on this assignment with L.L. Bean’s executives, their real estate consultant, Larry Plotkin of the Plotkin Company LLC and George Galloway of Northwest Atlantic Real Estate Services. Divaris Real Estate is the exclusive tenant representative for L.L. Bean in their search for store locations in the Washington DC/Balitmore and metropolitan New York City/New Jersey trade areas.
Divaris Real Estate, Inc. is headquartered in Virginia Beach, Virginia with offices in Norfolk, Chesapeake, Newport News, and Richmond, Virginia; Charlotte, North Carolina; Atlanta, Georgia; Jackson, Mississippi; and Tampa, Miami, and St. Augustine, Florida. It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 19,000,000 square feet of prime office, retail, and industrial space throughout the Mid-Atlantic and Southeastern states. Divaris Real Estate, Inc. is a member of Realty Resources, a national group of independent retail property brokers and managers covering seventy-five major markets throughout the United States. This organization represents corporate and institutional clients, as well as tenants and buyers in all aspects of leasing, development, and managing properties, as well as in acquisitions and land sales. Gerald S. Divaris is President and Michael B. Divaris is Executive Vice President of Divaris Real Estate, Inc.