Divaris Property Management Corp. to manage Town Point Center in Norfolk
CIG Town Point Center LLC has hired Divaris Property Management Corp. (DPMC) to manage Town Point Center in downtown Norfolk.
The 131,259-square-foot, 12-story, Class A office building at 150 Boush Street is located in the heart of the city’s Central Business District. The building sits across from the USS Wisconsin battleship and Half Moone cruise ship terminal and offers extensive water views from its penthouse conference center and penthouse lounge.
Tazewell Rinehart, a senior property manager with DPMC, will handle the day-to-day property management. According to Divaris, Town Point Center is currently 95 percent leased. Tenants include: BDO USA LLP, The Up Center, Witt Mares PLC, MCI Communications, Virginia Symphony Orchestra, Goodman Allen Donnelly and RCMA Americas Inc.
In another transaction for Divaris Real Estate Inc., Morgan Property Group (MPG) has hired the Virginia Beach-based company to lease Brandy Creek Commons in Mechanicsville.
Zach Means and Larry Agnew of DRE’s Richmond office will be in charge of leasing available retail space in the 68,148-square-foot neighborhood shopping center. A 50,000-square-foot Publix grocery store will serve as the anchor tenant for the new development. An additional 13,000-square-feet of retail will be available for lease as well as an outparcel fronting Mechanicsville Turnpike.
The new development is slated to break ground late in summer 2017, with an opening planned by fall 2018.
Means represented Brandy Creek Drive Realty LLC, a business entity of MPG, in the purchase of the 18-acre parcel for $3.5 million. The cost to develop Brandy Creek Commons is estimated at $15 million.