Value City Furniture joins the Divaris-leased Best Buy Center to complete its market coverage of the Hampton Roads area.

Value City Furniture Expands In Hampton Roads

NEWPORT NEWS, VIRGINIA—“In order to complete the Hampton Roads area in terms of market coverage, Value City saw Best Buy Center as the perfect opportunity,” says Mark Ungar, vice president of leasing for Schottenstein Management Company, which represents Value City Furniture.  “This site appealed to real estate executives at Value City for many reasons, mostly for its dynamic area.” 

Founded over 54 years ago, Value City Furniture has become one of the most respected names in the furniture industry.  That respect continues to hold true in Hampton Roads, Virginia where a third location will open in the Divaris-leased Best Buy Center on Jefferson Avenue in Newport News. 

Formerly an HQ store, Best Buy Center is located at the corner of Jefferson Avenue and Oyster Point Road in the strongest retail corridor of Newport News.  With a site size of 15.9 acres, Best Buy Center’s tenants include  Best Buy, Babies “R” Us and Value City Furniture.  Located diagonally across from Patrick Henry Mall and Yoder Plaza, Best Buy Center has a prime location near nationally reputed tenants such as Costco, Cost Plus World Market, Comp USA, Barnes & Noble, Dillard’s, Target, Toys “R” Us, Office Max, Wal-Mart, Sam’s Club, Home Depot and Circuit City.

According to Gerald Divaris, chairman and CEO of Divaris Real Estate, “The Best Buy and Value City Furniture concepts are complementary as they draw a similar customer, often on the same buying mission.”  Value City offers a wide range of furniture at affordable prices, while Best Buy offers electronics, music and appliances. 

Divaris represented Value City Furniture in its search for a third Hampton Roads site.  He also represented the landlord, Best Buy Stores, in lease negotiations for the Newport News location 

“Gerald did an excellent job securing the location,” says Ungar.  “We are extremely pleased with DRE’s services and feel the outcome was reached through excellent work on Gerald’s part.” 

The first Value City Furniture within Hampton Roads was opened near Lynnhaven Mall in Virginia Beach and the second in the Divaris-leased Crossways Shopping Center across from Greenbrier Mall in Chesapeake.

Value City Furniture maintains its superior status in the furniture industry as both a manufacturer of furniture and one of America’s top independently owned furniture retailers.  Value City Furniture’s tremendous buying power means low prices for top name brands.  The company employs more than 5,000 associates and operates over 70 furniture superstores located largely in the Midwest and East Coast. Value City Furniture sells furniture and accessories from leading manufacturers, including its own domestic factories in Ohio, West Virginia and North Carolina.