Virginia Beach, VA: Divaris Real Estate, Inc. (DRE), announced the signing of five leases totaling 66,900 square feet of retail space in 5th Street Station, a 465,000-square-foot shopping center located on 72 acres in Charlottesville, Virginia. Lease negotiations were handled on behalf of the landlord, 5th Street Station Ventures, LLC, by Larry Agnew, Mary McGovern, Zach Means and Erica Rorrer of DRE. Previously announced leases in 5th Street Station include Wegmans, Field & Stream, PetSmart, Panera Bread, and Dick’s Sporting Goods.
Haverty’s Furniture leased 35,000 square feet of junior anchor retail space in the Divaris-leased 5thStreet Station. Havertys, established in 1885 in Atlanta, is a full-service home furnishings retailer with over 100 showrooms in 16 states in the Southern and Midwestern regions, providing millions of loyal customers with a wide selection of quality merchandise in middle to upper-middle price ranges.
A.C. Moore leased 19,500 square feet of retail space in 5th Street at the intersection of 5th Street and Bent Creek Parkway. A.C. Moore is a specialty retailer of arts, crafts and floral merchandise operating more than130 stores in the Eastern United States.
Timberwood Tap House leased 6,200 square feet of retail space at 5th Street Station. This is the second location for the company that operates Timberwood Grill in North Charlottesville. The tap house will be another casual restaurant with an eclectic American menu, unique weekly specials, an extensive craft beer selection and fast, friendly service.
Hand & Stone leased 2,500 square feet of retail space at 5th Street Station. Hand & Stone is a 250-unit massage and facial spa chain that was launched in 2004 by physical therapist John Marco and now led by franchise veteran Todd Leff. Hand & Stone now has locations in 26 states and Canada.
ComServe, a Verizon Wireless licensee, leased 2,400 square feet of retail space at 5th Street Station. Verizon Communications Inc. (NYSE, NASDAQ:VZ) is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers.
Red Mango leased 1,300 square feet of retail space at 5th Street Station. Dan Kim opened the first Red Mango all-natural frozen yogurt store in 2007. Today, there are over 200 award-winning locations nationwide.
5th Street Station is strategically positioned on 5th Street, directly off I-64 at exit 120 in southern Charlottesville. It is located less than five minutes from the University of Virginia, with more than 34,000 students, faculty and staff on campus annually. The property benefits from its direct access from Interstate 64, thus making it the only super-regional shopping center in the Charlottesville area. The drawing power of Wegmans and Field & Stream and the center’s close proximity to the University of Virginia, are expected to make it a bustling shopping destination. The $153 million super-regional shopping center is situated less than 65 miles from Richmond, Staunton and Lynchburg, and 100 miles from Washington, D.C. Ground broke at 5th Street Station in November 2014 and the center will celebrate its grand opening in fall 2016.
About Divaris Real Estate, Inc. 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 25 million square feet of prime office, retail and industrial space from New Jersey to Florida.
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.