Divaris to Lease Brandy Creek Commons in Mechanicsville
RICHMOND, VIRGINIA: Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc. (DRE), announced that Charlotte, North Carolina-based developer Morgan Property Group (MPG) has hired DRE to lease Brandy Creek Commons located at Brandy Creek Drive and Mechanicsville Turnpike in Mechanicsville, Virginia.
Zach Means and Larry Agnew of DRE’s Richmond office will be in charge of leasing the available retail space in the 68,148-square-foot neighborhood center. A 50,000-square-foot Publix grocery store will anchor the new development on the property. An additional 13,000-square-feet of retail will be available for lease as well as an outparcel fronting Mechanicsville Turnpike.
Publix is a Lakeland, Florida-based grocery retailer that was founded in 1930. The company, which employs approximately 189,500 people, is the largest employee-owned grocery chain in the United States. The company’s retail sales in 2015 reached $32.4 billion.
The development is slated to break ground late in summer 2017 with an opening planned by fall 2018. Morgan Property Group is a preferred Publix developer, currently in the process of constructing another site for the grocery retailer in the Winston-Salem suburb of Clemmons, North Carolina.
Means represented Brandy Creek Drive Realty, LLC, a business entity of MPG, in the purchase of the 18-acre parcel for $3.5 million. The cost to develop Brandy Creek Commons is estimated at $15 million.
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 29 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.