VIRGINIA BEACH, VA (October 25, 2020) — Divaris Real Estate, Inc. (DRE) announces the completion of 11 transactions totaling 92,054 square feet of sold, leased or renewed commercial transactions throughout Hampton Roads, Virginia.
Sales Transactions
Hooked Group, LLC purchased the 50,000-square-foot Panasonic Building office property located at 661 Independence Parkway in Chesapeake from Matsushita RE Corp of America for $4,250,000. George Fox represented the buyer in the transaction.
Knells Ridge Medical Center, LLC purchased the 9,290-square-foot Woodside Professional Center office property located at 108 Knells Ridge Blvd. in Chesapeake from Woodside Professional Center, LLC. for $1,200,000. George Fox represented the buyer while Jason Oliver and Elizabeth Paasch represented the seller in the transaction.
Lease Transactions
Albanna leased 1,500 square feet of retail space in the Divaris-leased Cypress Run Plaza located at 13400 Benns Church Blvd in Smithfield, Va. George Fox and Caroline Zarpas represented the landlord in the lease negotiations. Other tenants in Cypress Run Plaza include Wells Fargo, Sal’s Pizza, Check Into Cash and Farmer’s Table.
Oriana Tobacco and Vape leased 1,500 square feet of retail space in the Divaris-leased Newport Crossing located at 439-467 Oriana Road in Newport News. George Fox and Caroline Zarpas represented the landlord in the lease negotiations. Other tenants in the Food Lion-anchored Newport Crossing include Dollar Tree, Citi Trends, Riverside Health, Kool Bins, and Pace Riverside.
70 East Tobacco leased 1,500 square feet of retail space in the Divaris-leased Coliseum Marketplace located at 2170 Coliseum Drive in Hampton. George Fox represented the landlord in the lease negotiations. Other tenants in Coliseum Marketplace include Michael’s, Panera Bread, SONABank, Chick-Fil-A, America’s Best Wings and AT&T.
Chinese Gourmet & Hibachi leased 1,400 square feet of retail space in Elmhurst Square located at 5600 Portsmouth Blvd in Portsmouth. Kris Fuller and George Fox represented the landlord in the lease negotiations. Other tenants in the Food Lion-anchored Elmhurst Square include East Side Pizza, Chick N Roll and Liberty Tax Service.
Gourmet Chef leased 633 square feet of retail space in Divaris-leased and -managed Town Center of Virginia Beach Block 4 located at 236 Central Park Ave. in Virginia Beach. Erica Rorrer, Gerald Divaris and Sezin Cortinas represented the landlord in the lease negotiations. Other tenants in Block 4 of the Town Center of Virginia Beach include P.F.Chang’s China Bistro, Cold Stone Creamery, California Pizza Kitchen, lululemon athletica and more.
Lease Renewals
Wells Fargo renewed its lease for 15,199 square feet of office space in the Divaris-leased and -managed Reflections III located at 208 Golden Oak Court in Virginia Beach. Brian Devlin represented the landlord in the lease negotiations.
Family Dollar Stores renewed its lease for 7,875 square feet of retail space in the Divaris-leased Suffolk West Plaza located at 837 West Constance Road in Suffolk. George Fox and Caroline Zarpas represented the landlord in the lease negotiations. Other tenants in Suffolk West Plaza include Family Dollar, Rent a Center, Virginia ABC, Pizza Hut, Hardee’s and H&R Block.
Cricket Wireless renewed 1,600 square feet of retail space in the Divaris-leased and -managed Oyster Point Square located at 11710 Jefferson Avenue Newport News. George Fox and Caroline Zarpas represented the landlord in the lease negotiations. Other tenants in the Food Lion-anchored Oyster Point Square include Family Dollar, BB&T, The UPS Store, Boost Mobile, Cricket Wireless and Signs By Tomorrow.
Insurance Consultants of Tidewater renewed 1,557 square feet of office space in the Divaris-leased and -managed Reflections II located at 200 Golden Oak Court Virginia Beach. Brian Devlin represented the landlord in the lease negotiations.
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; Charleston, SC; 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 over 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 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.