Armada Hoffler and Divaris Real Estate Announce New Tenants in Town Center of Virginia Beach

 

VIRGINIA BEACH, VA, February 6, 2019: Armada Hoffler Properties, Inc. (NYSE:  AHH) and Divaris Real Estate, Inc. (DRE) announce that eight additional retailers will join the iconic Town Center of Virginia Beach in 2019.

 

In addition to Pottery Barn, Williams Sonoma, and Quirks that all opened in 2018, a 3,285-square-foot Virginia ABC Store held a grand opening on January 28, 2019.  It will be followed very shortly by the following new tenants:

 

  • Lamia’s Crepes – 1,242 square feet at 261 Town Center Drive, will open in February
  • Macaron Tart – 1,300 square feet at 245 Central Park Avenue, will open in February
  • Caribou Coffee & Einstein Bagels – 2,134 square feet at 283 Constitution Drive, will open in Spring
  • Michael Michele Nail Spa – 2,237 square feet at 180 Central Park Avenue, will open in Spring
  • Commonwealth for the Greater Good – 1,806 square feet at 4520 Main Street, will open in Spring
  • David’s Bridal – 10,000 square feet in Columbus Town Center, will open in Summer
  • Shake Shack – 3,403 square feet at the corner of Virginia Beach Boulevard and Constitution Drive will open its first restaurant south of Northern Virginia in Summer
  • TASTE – 4,600 square feet at the corner of Commerce and Market Streets, will open in the Fall
  • A 7,600-square-foot restaurant for the second floor of our newest block will be announced soon

“The synergy of placing similar, upscale retailers together creates a ‘Main-and-Main Street’ destination for shoppers that draws from a larger regional area than a typical enclosed mall,” remarked Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc.  The Town Center of Virginia Beach is leased by Gerald Divaris, Sezin Cortinas and Erica Rorrer of DRE and managed by Divaris Property Management Corp.

 

“Retailers aren’t all shrinking their store counts.  Some are looking for new venues including high-visibility, street-facing storefronts like in New York City –and this is clearly now happening in Hampton Roads,” said Divaris.

 

Town Center is located just ten miles from the Virginia Beach Oceanfront and Norfolk, placing it at the very center of business and shopping in our market.  Town Center features a large daytime population of people who live in 934 residential units, are guests of The Westin and Hilton hotels, or are visiting the1,300-seat performing arts theater, Sandler Center, and 450,000 square feet of leased retail space.  Additionally, there are approximately 6,000 on-site, daytime employees and students and 27,401 workers within a mile of Town Center.

 

Other retailers and restaurants in Town Center include:  Anthropologie, Barnes & Noble, Brooks Brothers, bluemercury, Bed Bath & Beyond, California Pizza Kitchen, The Cheesecake Factory, Destination Maternity, Dick’s Sporting Goods, francesca’s, Free People, Gordon Biersch Brewery, IT’SUGAR, LOFT, lululemon athletica, McCormick & Schmick’s, Paper Source, P.F. Chang’s China Bistro, Regal Cinemas, Ruth’s Chris Steak House, Tupelo Honey Café, Yard House and West Elm.  For more information about Town Center, please visit www.vabeachtowncenter.com.

 

About Armada Hoffler Properties, Inc.

Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust (“REIT”) with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. The Company was founded by Daniel A. Hoffler in 1979 and has elected to be taxed as a REIT for U.S. federal income tax purposes.

 

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, NC; 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 and/or leases over 30 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.