REAL ESTATE

DRE signs five retailers into Hampton Roads

BY Michael Fickes

Virginia Beach, Va. — Divaris Real Estate has arranged five retail leases for space in Chesapeake, Norfolk and Virginia Beach.

  • T-Mobile signed three leases for 4,225 sq. ft. The company will move into 1,600 sq. ft. in Kempsriver Crossing in Virginia Beach, 1,500 sq. ft. in Southern Shopping Center in Norfolk and 1,125 sq. ft. in Indian River Shoppes in Chesapeake.
  • Original Mattress Factory is relocating to a larger space in Sam’s Circle in Chesapeake. The new space is 2,400 sq. ft.
  • Firehouse Subs will set up shop in 1,800 sq. ft. in Strawbridge Marketplace in Virginia Beach.
  • DRE is a member of Realty Resources and The CORE Network.

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REAL ESTATE

PizzaRev to play role in Burbank

BY Michael Fickes

Los Angeles — PizzaRev, the fast-casual artisan pizza concept, will build a flagship location in Burbank’s shopping and entertainment district at the intersection of E. Palm Ave. & N. San Fernando Blvd.

The company has announced plans to add two new locations in Oxnard and El Segundo, Calif. this summer and to begin franchising soon. PizzaRev currently operates three locations in Studio City, Woodland Hills and Northridge, Calif.

Check out an exclusive chainstoreage.com series about PizzaRev’s expansion on the site’s real estate page.

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REAL ESTATE

Wal-Mart to open a superstore on site of former racetrack

BY Katherine Boccaccio

Cicero, Ill. — The town of Cicero, Ill., and Wal-Mart Stores announced an agreement on Tuesday to build a Walmart Supercenter on a portion of a former racetrack site.

Under the contract, Wal-Mart will pay $7.5 million for 24.67 acres of land at the long-vacant and dilapidated Sportsman’s racetrack to construct a 190,000-sq.-ft. store.

Cicero will continue to own 10 acres of the remaining Sportsman’s property, which is reserved for future retail expansion and development.

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