Ross Dress for Less Leases 30,000 Square Feet in Crossways Shopping Center

Posted on August 22, 2002  /  in News Releases  /  No Comments

Chesapeake, Virginia:  Gerald S. Divaris, Chairman/CEO of Divaris Real Estate, Inc., announced the signing of a lease with Ross Stores, Inc., doing business as Ross Dress For Less, for 30,000 square feet of retail space in the Divaris leased Crossways Shopping Center, located at 1412 Greenbrier Parkway in Chesapeake, Virginia.  Ross Dress For Less joins DSW Shoe Warehouse, Marshall’s, Value City Furniture and Dress Barn in Crossways Shopping Center.  This is the first Hampton Roads location for Ross Dress For Less.

Ross Stores, Inc. began in 1982 with six stores in the San Francisco Bay Area.  At the end of fiscal 2001, there were 452 Ross Dress For Less stores in 22 states.  The average new store features about 30,000 gross square feet in a self-service, easy-to-shop format that is conveniently located in a neighborhood shopping center.  As an off-price retailer, Ross offers first-quality, in-season, name brand and designer apparel, accessories and footwear for the entire family at everyday savings of 20 to 60 percent of department and specialty store regular prices.  In addition, the same savings can be found on a wide variety of merchandise for the home.  The Ross Dress For Less target customers are value-conscious women and men between the ages of 25 and 54, with middle to upper-middle income levels. Ross customers define value both in terms of the brands they find and the strong discounts compared to full-price retailers on those brands.

Gerald Divaris and Mary McGovern, of DRE’s Virginia Beach office, represented the Tenant in the negotiations.  The Landlord was Schottenstein Management Company.  DRE exclusively represents Ross Dress For Less in Virginia. The Company is currently evaluating additional locations for stores throughout Virginia.

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; Rockville, Maryland; and Boca Raton and Tampa, Florida. It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 21 million 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 75 major markets throughout the United States.  DRE is also the Virginia affiliate for The CORE Network, a national group of full-service commercial 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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