Marketplace at Tech Center is 70 percent leased

Published July 7, 2014 by Paula C. Squires

Marketplace at Tech Center, a mixed-use lifestyle center at Jefferson Avenue and Oyster Point Road in Newport News, is 70 percent leased as more first-to-market retailers sign on at the new project.

Marketplace is the retail component of Tech Center at Oyster Point, a $250 million, development on 100 acres. It’s also turning out to be the site of several stores and restaurants that are new to the Virginia Peninsula.

“The availability of this much acreage on one of the busiest intersections in Hampton Roads, coupled with the ability to intermix an upscale marketplace with high-end apartments and specialty office space, all on one site, provides an unparalleled opportunity for retailers in this market,” Erica Meekins Rorrer, a vice president of retail for Divaris Real Estate Inc. said in a statement.

According to Divaris, Whole Foods has helped attract the tenant line up.  “Many more exciting retailers will be announced in months to come,” said Gerald Divaris, chairman and CEO of Divaris Real Estate. 

So far, these “first-to-market” retailers (with the exception of those that have outlet stores in Williamsburg) include:

Whole Foods – 35,000 square feet of retail space
DSW Shoe Warehouse – 18,062 square feet of retail space
BJ’s Brewhouse – 7,400 square feet of retail space
PF Chang’s China Bistro – 6,400 square feet of retail space
Carters – 3,915 square feet of retail space
Café Rio – 3,000 square feet of retail space
OshKosh B’gosh – 3,040 square feet of retail space
Zoe’s Kitchen – 2,600 square feet of retail space
Avalon Spa – 1,200 square feet of retail space

Other retailers who have signed leases to join Tech Center include:

Stein Mart – 32,000 square feet of retail space
ULTA Salon, Cosmetics and Fragrances – 11,000 square feet of retail space
Five Below – 7,854 square feet of retail space
Massage Envy – 3,640 square feet of retail space
Navy Federal Credit Union – 3,500 square feet of retail space
Starbucks – 1,950 square feet of retail space
Jimmy Johns Gourmet Sandwiches – 1,600 square feet of retail space
Hair Cuttery – 1,200 square feet of retail space
Conte’s Bike Shop – 2,000 square feet of retail space

The master plan for Tech Center at Oyster Point includes 230,000 square feet of retail, 290 luxury apartment homes and 30,000 square feet of specialty office space. This is in addition to the adjacent research park planned around The Thomas Jefferson National Accelerator Facility (a.k.a. Jefferson Lab), a federally funded U.S. laboratory. Ultimately, the research park could have up to 1.3 million square feet of office space in up to 15 buildings.

More than 148,000 square feet of the retail space, or 70 percent, was leased prior to March ground breaking.  Divaris’ focus now is on leasing small shop space.

The retail portion should celebrate its grand opening in July 2015.