Virginia Beach, VA (March 19, 2025)  – Town Center of Virginia Beach continues to maintain its position as a leading business hub, with 99% office occupancy across its five office towers. With ongoing demand for high-quality office space, Divaris Real Estate has facilitated a series of lease renewals, expansions and new agreements. Four of the five towers – 4525 Main St., Armada Hoffler Tower, One Columbus Center and 249 Central Park Ave. – are fully leased.

“Office tenants at Town Center of Virginia Beach consistently cite free parking, a central location and strong amenities as key factors in their decision to relocate or renew their leases,” said Krista Costa, Executive Vice President of Divaris Real Estate. “The environment at Town Center supports employee satisfaction, helps attract and retain top talent, and fosters a sense of community.” Krista Costa, Michael Divaris and Ashley Beck represented the landlord in these transactions.

According to CoStar, Hampton Roads’ limited speculative office construction coupled with the market’s more stable office-using tenant base has insulated the region from the dramatic upswings in vacancy seen elsewhere in the nation. At 7.0%, Hampton Roads’ vacancy rate remains well below the national average of 14.0%, and with minimal supply-side pressures imminent, similar conditions are expected to continue throughout the year. Meanwhile, the Virginia Beach Central Business District currently reports a 6.8% vacancy rate, compared to Downtown Norfolk’s 12.2%.

Recent lease transactions completed over the past six months at Town Center of Virginia Beach include:

  • Clark Nexsen renewed its 70,722-square-foot lease at 4525 Main St.
  • Kimley Horn expanded their lease to 49,582 square feet to consolidate its Hampton Roads offices to one location at 4525 Main St.
  • Williams Mullen extended its lease for 22,950 square feet and expanded by 13,659 square feet at Armada Hoffler Tower.
  • Armada Hoffler leased 19,000 square feet at 4605 Columbus St.
  • VHB renewed its 12,823-square-foot lease at Two Columbus Center.
  • Trader Interactive leased the 12,358 square-foot top floor of the Armada Hoffler Tower.
  • Procter & Gamble (P&G) renewed its 6,666-square-foot lease at Armada Hoffler Tower.
  • Keller Williams renewed and relocated to 5,384 square feet in One Columbus Center.
  • STV signed a 5,034-square-foot lease in the Armada Hoffler Tower.
  • Thor expanded and relocated from One Columbus Center to 4,589 square feet at Two Columbus Center.
  • Titanium Logistics leased 3,843 square feet at 249 Central Park Ave.
  • Gannett Fleming signed a 3,477-square-foot lease in the Armada Hoffler Tower.
  • Ford Richardson renewed its 3,409-square-foot lease at One Columbus Center.
  • Volkert renewed its 3,186-square-foot lease at Armada Hoffler Tower.
  • Congresswoman Jen Kiggans renewed her 2,750-square-foot lease at One Columbus Center.
  • Virginia Sports Hall of Fame relocated to 2,177 square feet on the eighth floor of One Columbus Center.

Overall, renewed tenant transactions total 189,734 square feet, while expansion and new tenant agreements account for 43,822 square feet.

Town Center of Virginia Beach’s office towers were 98% leased since the start of 2025. The remaining office space available at Town Center of 9,191 square feet is in Two Columbus Center. 

Beyond office leasing, Town Center’s retail sector continues to thrive, with J. Jill and South Moon Under among the newest additions.

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About Divaris Real Estate 

Divaris Real Estate, Inc. is headquartered in Virginia Beach, Va. with offices in Newport News, Norfolk, Richmond and Roanoke, Va.; Washington, D.C., Charlotte and Raleigh, N.C.; Beverly Hills, Calif.; Philadelphia PA, and Rockville, Md. Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, an international fully integrated real estate services, brokerage, and property management company that currently manages and/or leases over 40 million square feet of prime office, retail, and industrial space throughout the US. Gerald S. Divaris is Chairman of the Board and its CEO, Michael B. Divaris is President, and Tony Divaris is Chief Operating Officer of the Divaris Group. Its affiliates have offices in New York, Philadelphia, Charleston, Atlanta, Ann Arbor, Pinehurst, and San Diego.

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. These organizations represent corporate and institutional clients, tenants, and buyers in all aspects of leasing, development, management, sales and acquisitions.

Press Contact: Janelle Burchfield | hello@JBdigital.media | 757.439.0139