Divaris Reports Farm Fresh Portsmouth Store to Reopen
The lease deal was one of 11 transactions Divaris recently negotiated involving 95,068 square feet of new and renewed commercial space throughout the greater Hampton Roads market.
VIRGINIA BEACH, VA— Divaris Real Estate, Inc. reports that it has signed a lease that will facilitate the re-opening of the nearly 58,000-square-foot Farm Fresh supermarket in Portsmouth, VA.
Farm Fresh will reopen its 57,643-square-foot supermarket in the Divaris-leased and -managed Victory Crossing Shopping Center located at 4000 Victory Boulevard in Portsmouth.
The lease deal was one of 11 transactions Divaris recently negotiated involving 95,068 square feet of new and renewed commercial space throughout the greater Hampton Roads market.
DRE’s Levi Thomson and Kris Fuller and Leo Greco of Excess Space represented Supervalu, while DRE’s George Fox represented the landlord in the transaction. Tenants in Victory Crossing include: Dollar Tree, Payless Shoes, Rainbow, GameStop, Pizza Hut, SunTrust Bank, Metro PCS, Ashley Stewart and the UPS Store.
Supervalu announced in March it had entered into three separate definitive agreements to sell 21 of its 38 Farm Fresh Food & Pharmacy stores for approximately $43 million in cash to three different retailers—Harris Teeter, Kroger Mid-Atlantic Division, and Food Lion.
Another significant lease deal announced by Virginia Beach-based Divaris included Shockwave Strength and Performance’s 23,491-square-foot deal in Newport Marketplace in Newport News. DRE’s Fox and Fuller represented the tenant in the lease negotiations.
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 more than 36.8 million square feet of prime office, retail and industrial space from New Jersey to Florida.