Divaris Adds Over One Million Square Feet to Portfolio with 11 Properties
VIRGINIA BEACH, VA: Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc. (DRE), announced the addition of 11 shopping centers to its leasing and management portfolio. The total space exceeds 1,082,681square feet of retail space in centers that were recently acquired by Virginia Beach-based Armada Hoffler Properties. The portfolio is located throughout the Mid-Atlantic and South-Central United States. It is currently 94 percent occupied:
| PROPERTY | LOCATION | SQ. FT. | OCC | ANCHOR TENANTS |
|---|---|---|---|---|
| TOTAL | 1,082,681 | 94% | ||
| Patterson Place | Durham, NC | 160,942 | 99% | Bed Bath & Beyond, PetSmart, Total Wine & More, A.C. Moore |
| South Square | Durham, NC | 109,590 | 100% | Ross Dress for Less, Petco, Office Depot |
| Wendover Village | Greensboro, NC | 135,758 | 100% | Bed Bath & Beyond, Golfsmith, T.J. Maxx, Petco, Five Below |
| Alexander Pointe | Salisbury, NC | 57,710 | 100% | Harris Teeter |
| Harper Hill Commons | Winston-Salem, NC | 96,914 | 79% | Harris Teeter |
| North Hampton Market | Taylors, SC | 114,935 | 94% | PetSmart, Hobby Lobby, Dollar Tree |
| Waynesboro Commons | Waynesboro, VA | 52,415 | 100% | Kroger |
| Willowbrook Commons | Nashville, TN | 93,600 | 88% | Kroger |
| Oakland Marketplace | Oakland, TN | 64,600 | 96% | Kroger |
| Broadmoor Plaza | South Bend, IN | 115,059 | 94% | Kroger, Staples, Jo-Ann Fabrics |
| Kroger Junction | Pasadena, TX | 81,158 | 78% | Kroger |
The core of the portfolio consists of six retail centers well positioned along the I-85 corridor between Raleigh-Durham, North Carolina and Greenville, South Carolina. These core assets feature major anchor tenants including Harris Teeter, PetSmart, T.J. Maxx, Bed Bath & Beyond, Ross Dress for Less, Hobby Lobby and Petco. These properties will be managed and leased out of Divaris’ Charlotte office. The remaining five properties in the portfolio are each Kroger-anchored retail centers located in Virginia, Tennessee, Indiana and Texas. Management and leasing will be coordinated from Divaris’ Richmond and Virginia Beach offices with the use of affiliates in Tennessee, Indiana and Texas.
About Divaris Real Estate
Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; 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 and/or leases in excess of 26 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 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.
– See more at: http://www.divaris.com/divaris-adds-over-one-million-square-feet-to-portfolio-with-11-properties/#sthash.OXN2l9kh.dpuf
