VIRGINIA BEACH, VA (September 1, 2020) — Divaris Real Estate, Inc. (DRE) announces the completion of ten transactions totaling 57,847 square feet of sold, leased or renewed commercial transactions in Hampton Roads, Virginia.
Sales Transactions
JPM Real Estate Va, LLC purchased the 3,825-square-foot Dunkin and Subway leased strip center located at 208 Birdneck Road North in Virginia Beach from Kaveri Enterprises, LC for $1,377,500. George Fox represented the buyer in the investment sale. The buyer owns and operates the Dunkin at this location.
Brickhouse Court, LLC sold an 11,570-square-foot, single-story office building located at 3083 Brickhouse Court in Virginia Beach to MPN Group LLC for $1,300,000. Michael Divaris and Jason Oliver represented the seller in the off-market transaction. The buyer is an affiliate of an existing tenant, Virginia Beach School of the Arts.
Net Lease Development, LLC purchased 4.5 acres of land located at 9291 Community Lane in Petersburg, Virginia from Wagner Properties, Inc for $1,025,000. George Fox represented the buyer in the negotiations.
Lease Transaction
Taco Vamonos leased 1,800 square feet of retail space in Hayes Shopping Center located at 7254 George Washington Memorial Highway in Hayes, Va. Kris Fuller and George Fox represented the tenant in the lease negotiations.
Solvere Living leased 1,500 square feet of retail space in the Divaris-leased and -managed East Beach Marketplace located at 4027 East Little Creek Road in Norfolk, Va. Kris Fuller and George Fox represented the landlord in the lease negotiations. Other tenants in the Food Lion-anchored East Beach Marketplace include: Planet Fitness, Family Dollar, Bon Secours, Papa John’s, Domino’s, Verizon, Tropical Smoothie, CVS Pharmacy, Jimmy John’s and Sushi King.
WingStop leased 1,500 square feet of retail space in Holland Plaza Shopping Center located at 4356 Holland Road in Virginia Beach. Levi Thomson represented the tenant in the lease negotiations.
Lease Renewals
Schenker renewed 26,283 square feet of office space in the Divaris-leased and -managed Liberty I located at 1305 Executive Blvd. in Chesapeake, Va. Brian Devlin represented the landlord in the lease negotiations.
Invictus International Consulting renewed 6,503 square feet of office space in Mast One located at 1040 University Blvd. in Portsmouth, Va. Krista Costa and Nicole Campbell represented the tenant in the lease negotiations.
McLean Mortgage renewed 2,657 square feet of office space in the Divaris-leased and -managed Reflections I located at 2809 South Lynnhaven Road in Virginia Beach. Brian Devlin represented the landlord in the lease negotiations.
Bangkok Garden renewed 2,209 square feet of retail space in the Divaris-leased and -managed Salem Crossing Shopping Center located at 2029 South Lynnhaven Parkway in Virginia Beach. Kris Fuller and Levi Thomson represented the landlord in the lease negotiations. Other tenants in the Walmart Super Center-anchored Salem Crossing include Fit Body Boot Camp, GameStop, Kroger Training Center, McDonald’s, Chick-Fil-A, Taco Bell, Starbucks, Sally Beauty, Sky Zone and Zero’s Subs.
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.
###