Divaris Grows VA Portfolio With 1.3 MSF

2 min read

The five retail properties bring the company’s leasing and management portfolio in the Mid-Atlantic and South-Central U.S. to almost 32 million square feet.

By Evelina Croitoru

Village at Towne Centre in Fredericksburg
Village at Towne Centre in Fredericksburg

Divaris Real Estate Inc. expanded its leasing and management portfolio with the addition of five retail properties totaling 1,294,277 square feet. The assets are all located throughout the Commonwealth of Virginia and bring the company’s portfolio in the Mid-Atlantic and South-Central U.S. to nearly 32 million square feet. The recently assigned to lease or manage properties are as follows:

  • Village at Towne Centre in Fredericksburg
  • Parkridge Center in Manassas
  • The Edge in Midlothian
  • GreenGate in Short Pump
  • Crossroads Shopping Center in Roanoke

Portfolio Increase

Village at Towne Centre is a 370,000-square-foot shopping center located at 1 Towne Centre Blvd. in Fredericksburg. The outdoor streetscape property is anchored by Paragon Village 12 and Splitsville Entertainment Complex. Additional tenants include Arhaus, Sephora, Soma, White House | Black Market, Charming Charlie and Chicos.

Parkridge Center, located at the nexus of Interstate 66 and Sudley Road in Manassas, is a 312,277-square-foot retail asset which opened in 1999. The shopping center accommodates 11 stores, including Regal Cinemas, Kohl’s, Old Navy and Bed, Bath & Beyond. 

Greengate in Short Pump
Greengate in Short Pump

The Edge in Midlothian, is a 350,000-square-foot mixed-use development which encompasses office, retail and residential spaces. The property, located on more than 100 acres of land also incorporates an outdoor lifestyle and adventure center.

GreenGate is a 70-acre master-planned mixed-use project in Short Pump. The development includes 300 units of townhomes and single family homes, 110,000 square feet of retail space and 90,000 square feet of office space.

Located in Roanoke, Crossroads Shopping Center is a 152,000-square-foot retail center whose tenant list includes Aldi and Subway.

This is a significant addition to our portfolio increasing our total leased and managed properties from over 30 to nearly 32 million square feet of leased and/or managed assets. Divaris Real Estate is experiencing a period of rapid growth and expansion that is very positive and exciting,” Gerald Divaris, chairman of the Divaris Group, said in a prepared statement.

Images courtesy of Divaris and therowatgreengate.com

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