{"id":1004127075,"date":"2015-09-09T03:06:42","date_gmt":"2015-09-09T11:06:42","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=360294"},"modified":"2020-04-28T01:32:17","modified_gmt":"2020-04-28T09:32:17","slug":"divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\/","title":{"rendered":"Divaris Shaves 93 KSF of Retail Space Off the Richmond Market"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<div id=\"attachment_360295\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Overall-Rental-Rate-Vs.-Overall-Vacancy-Rates-in-the-Richmond-Market.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-360295\" title=\"Overall Rental Rate Vs. Overall Vacancy Rates in the Richmond Market\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Overall-Rental-Rate-Vs.-Overall-Vacancy-Rates-in-the-Richmond-Market.jpg\" alt=\"Overall Rental Rate Vs. Overall Vacancy Rates in the Richmond Market\" width=\"300\" height=\"280\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Overall Rental Rate Vs. Overall Vacancy Rates in the Richmond Market<\/p>\n<\/div>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.divaris.com\" target=\"_blank\" rel=\"nofollow\">Divaris Real Estate<\/a> is doing its part to lower the retail vacancy in Greater Richmond. Recently, the Virginia Beach-based company announced the signing of four leases totaling 93,544 square feet of space in the region. DRE\u2019s Richmond office handled the negotiations.<\/p>\n<p style=\"text-align: justify;\">Two of the four leases were for space in the Victorian Square Shopping Center off Hull Street Road. DRE represented the landlord in both transactions. The lessees were discount retailer Gabe\u2019s (Gabriel Brothers) and Planet Fitness, one of the largest and fastest-growing franchisers and operators of fitness centers.<\/p>\n<p style=\"text-align: justify;\">Gabe\u2019s signed the largest of the four leases. The retailer will occupy 57,599 square feet of space in the Greater Richmond shopping center. Planet Fitness committed to occupy 19,412 square feet. Other tenants at Victorian Square include Ashley Furniture, Dollar Tree, Empire Beauty School, Hair Cuttery, and Dr. Mason Dentistry.<\/p>\n<p style=\"text-align: justify;\">Designer Shoe Warehouse also signed a lease for 15,000 square feet of space at the Willow Lawn Shopping Center, on the corner of Broad Street and Willow Lawn Drive. DRE\u2019s Brett McNamee represented the tenant in its negotiations with landlord Federal Realty Investment Trust. Finally, DRE\u2019s Cheryle Toy and Read Goode represented Dunkin&#8217; Donuts in its negotiations to occupy 1,533 square feet of retail space at 900 West Broad St. in Richmond.<\/p>\n<p>According to <a href=\"https:\/\/www.thalhimer.com\" target=\"_blank\" rel=\"nofollow\">Cushman &amp; Wakefield | Thalhimer<\/a>\u2019s latest retail market report, the vacancy rate in the Richmond region was 6 percent at the end of Q2, unchanged<strong> <\/strong>from the previous quarter, yet lower than what it was a year ago. With the exception of Q1 2015, the region\u2019s retail vacancy was last this low in Q2 2007. But, at the time, inventory was lower by 6.9 million square feet. Average rents in Greater Richmond have also declined since Q1 2015, reaching $13.96 per square foot, which is still higher than the level recorded in Q2 2014.<\/p>\n<p style=\"text-align: justify;\"><em>Charts courtesy of Cushman &amp; Wakefield | Thalhimer.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Divaris Real Estate facilitates four leases totaling 93,544 square feet of retail space in Greater Richmond.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[],"class_list":["post-1004127075","post","type-post","status-publish","format-standard","hentry","category-richmond-hampton-roads"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Divaris Shaves 93 KSF of Retail Space Off the Richmond Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Divaris Shaves 93 KSF of Retail Space Off the Richmond Market\" \/>\n<meta property=\"og:description\" content=\"Divaris Real Estate facilitates four leases totaling 93,544 square feet of retail space in Greater Richmond.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-09T11:06:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-28T09:32:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Overall-Rental-Rate-Vs.-Overall-Vacancy-Rates-in-the-Richmond-Market.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Divaris Shaves 93 KSF of Retail Space Off the Richmond Market\",\"datePublished\":\"2015-09-09T11:06:42+00:00\",\"dateModified\":\"2020-04-28T09:32:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\\\/\"},\"wordCount\":333,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/09\\\/Overall-Rental-Rate-Vs.-Overall-Vacancy-Rates-in-the-Richmond-Market.jpg\",\"articleSection\":[\"Richmond\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/divaris-shaves-93-ksf-of-retail-space-off-the-richmond-market\\\/\",\"name\":\"Divaris Shaves 93 KSF of Retail Space Off the Richmond Market - 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