Richmond, Va. (July 14, 2022) – Divaris Real Estate, Inc. announces the $5.45 million sale of Southpark Shopping Center. Q&L Realty purchased the 34,705-square-foot retail center located at 1829-1865 Southpark Blvd. in Colonial Heights.
Q&L Realty’s purchase was negotiated by John Madures, Assistant Vice President at Divaris Real Estate’s Richmond Office. “Demand for the center when it went on the market was very high and very competitive. Ultimately we beat out four other contracts to win the purchase,” said Madures.
Situated on 6.67 acres with access to Interstate 95 and Interstate 85, Southpark Shopping Center is located 20 minutes south of Richmond in a high volume, heavy traffic shopping district adjacent to Southpark Mall.
Colonial Heights Land Associates Limited Partnership owned the center from 2005. Currently anchored by For Eyes, Party City and Landmark Financial, Q&L Realty plans to add landscaping improvements, new signage, and parking lot upgrades. Divaris Real Estate will also assume leasing responsibilities at the center.
About Divaris Real Estate
Divaris Real Estate, Inc. (http://www.divaris.com) is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte and Raleigh, NC; Beverly Hills, CA; and 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, sells and/or leases approximately 31 million square feet of prime office, retail and industrial space from New Jersey to Florida. Gerald S. Divaris is Chairman of the Board and CEO, and Michael B. Divaris is President and Chief Operating Officer of Divaris Real Estate, Inc.
Divaris Real Estate is a member of Realty Resources, (http://www.realtyresources.org/) 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, (http://www.corenetworkcre.org/) 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.
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