Divaris Real Estate Announces Two New Tenants At Merchant’s Walk Shopping Center, Achieving 99% Occupancy

Richmond, Va. (February 21, 2024) – Divaris Real Estate announced today two new tenants at Merchants Walk Shopping Center: The Ice Cream Shop signed a lease for the 1,368 square-foot space located at 7576 W. Broad St., and The Hair Braiding Salon signed a lease for the 980 square-foot space located at 7588 W. Broad St. This announcement follows the recent acquisition of the property by a local investor for $18.4 million last September. Since assuming leasing and management responsibilities of the 219,972 square-foot center following the change in ownership, Divaris has been instrumental in enhancing both its tenant mix and market appeal.

With a roster of 40 national and local retailers, including anchor tenants Food Lion, AutoZone, and JOANN Fabric and Craft Store, Merchant’s Walk now boasts a 99% occupancy rate. The center is situated in the West End of Richmond along West Broad Street–Route 250 corridor, and attracts over 2.2 million visitors annually.

“The new leases at Merchant’s Walk Shopping Center not only build on the existing diverse tenant mix, but also demonstrate our commitment to cultivating an engaging and dynamic retail environment.” said John Madures, Senior Vice President of Divaris Real Estate who represented the landlord on both leases and facilitated the purchase of the property in 2023.