Divaris Adds Approximately 1.3 Million Square Feet to Portfolio in Virginia

VIRGINIA BEACH, VA: Divaris Real Estate, Inc. (DRE), announced the addition of five properties to its leasing and management portfolio.  The total of additional retail space is 1,294,277 square feet, located throughout the Commonwealth of Virginia.  This makes the sum of all properties leased by Divaris Real Estate and managed by Divaris Property Management Corp nearly 32 million square feet in the Mid-Atlantic and South-Central United States.  The properties recently assigned to lease or manage include:

Property Location Sq. Ft. Anchor Tenants/Description
Village at Towne Centre Fredericksburg, VA 370,000 Arhaus, Sephora, Soma, White House | Black Market, Charming Charlie, Chicos
Parkridge Center Manassas, VA 312,277 Regal Cinemas, Kohl’s, Old Navy and Bed, Bath & Beyond
The Edge Midlothian, VA 350,000 a 100+ acre development with a mix of office, retail and residential space with an outdoor lifestyle and adventure center
GreenGate Short Pump, VA 110,000 master planned 70-acre, mixed-use project with 300-unit mix of townhomes and single family homes; 110,000 square feet of retail space and 90,000 square feet of office space
Crossroads Shopping Center Roanoke, VA 152,000 Aldi and Subway, redevelopment opportunity of former Super Kmart.
Total 1,294,277


“This is a significant addition to our portfolio increasing our total leased and managed properties from over 30 to nearly 32 million square feet of leased and/or managed assets,” said Gerald Divaris. “Divaris Real Estate is experiencing a period of rapid growth and expansion that is very positive and exciting.”

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; Washington, DC and Beverly Hills, CA.  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 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 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.