Bucking National Trends, Divaris Real Estate, Inc. Reports Full Office Occupancy at Town Center of Virginia Beach
Virginia Beach, Va. (July 19, 2022) – Divaris Real Estate, Inc. announces 99% office occupancy at Town Center of Virginia Beach bucking return-to-the-office trends and predictions.
Incrementally increasing year over year, office leasing at the highly desirable Town Center has been unwavering, even through the pandemic. With the addition and renewals of several major tenants in June, totaling 33,899 square feet of leased office space, Divaris’ leasing team, Vivian Turok, Krista Costa and Michael Divaris, reported nearly full capacity
“Town Center meets the bill today as a successful mixed-use project. The office tenants recognize the opportunity to recruit top talent and are seeing higher employee retention rates with the included amenities and the ability to live, work, and play in the same environment,” said Michael Divaris, President and Chief Operating Officer of Divaris Real Estate.
Town Center’s five office towers include 4525 Main St., the Armada Hoffler Tower, 249 Central Park Ave., One Columbus Center, and Two Columbus Center. Nearly 1 million square feet of Class A office space is located within the thriving heart of Virginia Beach’s Central Business District, home to some of the biggest companies in Hampton Roads.
“While our employees adapted well during the challenges of working remotely during the pandemic, our return to the office is providing the benefit of in-person collaboration and company culture that were missing over the past two years. In addition, the Town Center’s continued development offers our employees a great atmosphere with many amenities to choose from,” said Paul Seiffert, Sector President at Mythics Inc., a tenant at Town Center’s 4525 Main Street office tower since 2017.
New tenants including Movement Mortgage, Garden State Bulb, and Trader Interactive – join long term tenants Armada Hoffler, Divaris Real Estate, Mythics Inc, Troutman Sanders, Williams Mullen, Mass Mutual, The Art Institute of Virginia Beach, Clark Nexsen, Truist and Lincoln Financial Advisors.
Town Center of Virginia Beach is an ongoing, multi-phase development that started in 2000 as a public-private partnership between the City of Virginia Beach, Armada Hoffler and Divaris Real Estate. The mixed-use project spans 17 pedestrian-friendly blocks and features an eclectic mix of upscale retail, dining options, Class A office space, luxury residences, as well as entertainment and cultural venues.
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 and Raleigh, 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, sells and/or leases approximately 31 million square feet of prime office, retail and industrial space from New Jersey to Florida. Gerald S. Divaris is Chairman of the Board and CEO, and Michael B. Divaris is President and Chief Operating Officer 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.
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