Michael’s Stores Leases Building in Kingsport, Tennessee

Posted on October 15, 2007  /  in News Releases  /  No Comments

Richmond, Virginia:  John Wingfield, principal of the Richmond office for Divaris Real Estate Inc. (DRE), announced the signing of a lease with Michael’s Stores for 20,000 square feet of retail space located in Kingsport, Tennessee. Other tenants in the property include Kohl’s and Target.

Michael’s is an arts and crafts store that has been in operation for over 20 years. Michael’s Stores is the nation’s largest specialty retailer of arts and crafts materials.

Brett Womack, of DRE’s Richmond office, handled the lease negotiations for the tenant, Michael’s Stores. The landlord of the building is Merchant’s Holdings.

   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 24 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.


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