NEWPORT NEWS, VIRGINIA: Marketplace at Tech Center, a mixed-use lifestyle center at Jefferson Ave and Oyster Point Rd in Newport News, VA will be the site of several stores and restaurants that cannot be found elsewhere on the Virginia Peninsula.
These “first-to-market” retailers (with the exception of those that have outlet stores in Williamsburg) that have inked deals include:
• Whole Foods – 35,000 square feet of retail space
• DSW Shoe Warehouse – 18,062 square feet of retail space
• BJ’s Brewhouse – 7,400 square feet of retail space
• PF Chang’s China Bistro – 6,400 square feet of retail space
• Carters – 3,915 square feet of retail space
• Café Rio – 3,000 square feet of retail space
• OshKosh B’gosh – 3,040 square feet of retail space
• Zoe’s Kitchen – 2,600 square feet of retail space
• Avalon Spa – 1,200 square feet of retail space
Other retailers who have signed leases to join Tech Center include:
• Stein Mart – 32,000 square feet of retail space
• ULTA Salon, Cosmetics and Fragrances – 11,000 square feet of retail space
• Five Below – 7,854 square feet of retail space
• Massage Envy – 3,640 square feet of retail space
• Navy Federal Credit Union – 3,500 square feet of retail space
• Starbucks – 1,950 square feet of retail space
• Jimmy Johns Gourmet Sandwiches – 1,600 square feet of retail space
• Hair Cuttery – 1,200 square feet of retail space
• Conte’s Bike Shop – 2,000 square feet of retail space
Marketplace at Tech Center is the retail component of Tech Center at Oyster Point, a $250 million mixed-use development on 100 acres in the heart of Newport News. The master plan for Tech Center at Oyster Point includes 230,000 square feet of retail, 290 luxury apartment homes, 30,000 square feet of new specialty office space in addition to the adjacent research park planned around The Thomas Jefferson National Accelerator Facility (a.k.a. Jefferson Lab), a federally funded U.S. laboratory that houses a free-electron laser and particle accelerator. Ultimately, the research park could have up to 1.3 million square feet of office space in up to 15 buildings.
“The availability of this much acreage on one of the busiest intersections in Hampton Roads, coupled with the ability to intermix an upscale marketplace with high-end apartments and specialty office space, all on one site, provides an unparalleled opportunity for retailers in this market,” said Erica Meekins Rorrer, vice president of retail for Divaris Real Estate, Inc.
“The draw of Whole Foods has also helped to attract the exciting tenant line up that has been secured for the development,” adds Gerald Divaris, Chairman/CEO of Divaris Real Estate, Inc. “Many more exciting retailers will be announced in months to come.”
“No one knows upscale mixed-use lifestyle retail merchandising like Divaris Real Estate,” said Mary McGovern, senior vice president of retail for Divaris Real Estate, Inc. “Over 148,000 square feet of the retail space was leased prior to ground breaking. Divaris’ focus is now on leasing the small shop space.”
The milestone of 70 percent pre-leased retail space represents years of legwork on a project that began as “Oyster Point Village.” “It was always meant to be a high-energy lifestyle center that would help to attract the best and brightest, up-and-coming science minds to Jefferson Research Labs,” said Jeff Garrison of S.J. Collins Enterprises, developer of Marketplace at Tech Center.
The retail component adds lifestyle value to the Tech Center project. “Jefferson Laboratories in Newport News is competing with facilities like those in Blacksburg and Chicago to attract the top scientists from around the world. That was the thinking behind the luxury apartments and the lifestyle retailers — to be competitive with other markets.”
The first shovel pierced the ground at Marketplace at Tech Center in March 2014. The retail portion should celebrate its grand opening in July 2015.
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 metropolitan 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 S.J. Collins Enterprises
Founded in 2007, S.J. Collins Enterprises is a privately held, commercial real estate development firm that has acquired and developed more than 45 retail, mixed use, multi-family and office projects throughout 8 Mid-Atlantic and Southeastern United States since its inception. With a strong foundation in commercial real estate, construction and finance, S.J. Collins Enterprises’ commitment to quality and excellence is exemplified in each project.