Three Retailers Bring Pre-Leasing in Newport News’ Marketplace at Tech Center to 85 Percent

Posted on September 24, 2014  /  in News Releases  /  No Comments

NEWPORT NEWS, VIRGINIA:  Three additional retailers have signed leases to locate stores in Marketplace at Tech Center, a mixed-use lifestyle center at Jefferson Ave and Oyster Point Rd in Newport News, VA. With the addition of First Watch, Point 2 Running Company and a fitness facility, Marketplace at Tech Center is now 85 percent leased and 10 percent more space currently in lease negotiation.

First Watch, the “Daytime Café,” operates locations in Fairfax and Chantilly, Virginia, but none in the Hampton Roads region. For over 30 years, the Bradenton, Florida-based restaurant has served up breakfast, brunch and lunch from more than 120 locations in 16 states and has racked up over 200 “Best Breakfast” and “Best Brunch” accolades. First Watch is the largest privately owned daytime only restaurant company in the U.S.

Point 2 Running Company, a running shoe retailer, goes the extra mile to measure your foot, arch length and the width of your foot. Then, after a combination of static, walking and treadmill tests, the staff of Point 2 Running Company recommends a neutral, stability, performance, or motion controlled shoe from the dozens of brands available. Also featured are clothing, accessories and nutritional products. Point 2 Running is locally owned and operated; their need for expansion space necessitated their move to Tech Center.

The fitness facility will offer a wide range of fitness equipment and classes spanning from challenging to entertaining. The facility will be 30,000 to 50,000 square feet and is strategically placed between Stein Mart and the apartments, with its own parking lot. The facility becomes an important, and intricate, part of the center without disrupting the shopping pattern. The fitness facility will add value to the Marketplace, office component and apartments, as a perfect example why lifestyle centers are so desirable in today’s marketplace.

Previously announced “first-to-market” retailers that have inked deals include Whole Foods, DSW Shoe Warehouse, Stein Mart, ULTA Beauty, Carters, OshKosh, Five Below, Jimmy John’s Gourmet Sandwiches, Navy Federal Credit Union, Conte’s Bicycles, Zoe’s Kitchen, Café Rio, P.F. Chang’s China Bistro and BJ’s Brewhouse. The retail portion should celebrate its grand opening in July 2015. More announcements will be made this fall.

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.

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.

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.

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