Richmond, Va. (February 21, 2024) – Divaris Real Estate announced today two new tenants at Merchants Walk Shopping Center: The Ice Cream Shop signed a lease for the 1,368 square-foot space located at 7576 W. Broad St., and The Hair Braiding Salon signed a lease for the 980 square-foot space located at 7588 W. Broad St. This announcement follows the recent acquisition of the property by a local investor for $18.4 million last September. Since assuming leasing and management responsibilities of the 219,972 square-foot center following the change in ownership, Divaris has been instrumental in enhancing both its tenant mix and market appeal.
With a roster of 40 national and local retailers, including anchor tenants Food Lion, AutoZone, and JOANN Fabric and Craft Store, Merchant’s Walk now boasts a 99% occupancy rate. The center is situated in the West End of Richmond along West Broad Street–Route 250 corridor, and attracts over 2.2 million visitors annually.
“The new leases at Merchant’s Walk Shopping Center not only build on the existing diverse tenant mix, but also demonstrate our commitment to cultivating an engaging and dynamic retail environment.” said John Madures, Senior Vice President of Divaris Real Estate who represented the landlord on both leases and facilitated the purchase of the property in 2023.
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About Divaris Real Estate
Divaris Real Estate, Inc. is headquartered in Virginia Beach, Va. with offices in Tysons, Newport News, Norfolk, Richmond and Roanoke, Va.; Charlotte and Raleigh, N.C.; Beverly Hills, Calif.; 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 39.3 million square feet of prime office, retail, and industrial space throughout the US. Gerald S. Divaris is Chairman of the Board and CEO, Michael B. Divaris is President, and Tony Divaris is Chief Operating Officer of the Divaris Group.
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.
Press Contact: Janelle Burchfield | hello@JBdigital.media | 757.439.0139