REAL ESTATE

Lowe’s sells 13.5 acres in Virginia Beach

BY Michael Fickes

Virginia Beach, Va. — Lowe’s Home Center has sold a 13.5-acre property to a private developer based in Virginia Beach for $9 million. Divaris Real Estate represented the seller, Lowe’s, in the transaction. Located one mile north of The Town Center of Virginia Beach, was once a neighborhood grocery-anchored shopping center. Lowe’s Home Center purchased the property in 2007, clearing and preparing it for future development. The new buyer plans to build another shopping center or mixed-use development on the site.

Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.

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REAL ESTATE

Winick names senior director in Cranford, N.J., office

BY Michael Fickes

New York — Industry veteran Thomas has Kornitzer officially joined Winick Realty Group N.J., where he will serve as senior director in the company’s Cranford, N.J., office. Kornitzer will direct both landlord and tenant accounts, specifically working with such exclusive clients as Safeguard Self Storage, Pep Boys and Wendy’s.

Kornitzer brings more than twenty years of experience in retail and commercial brokerage to his new role. Most recently, he served as regional director in both New York and New Jersey at RKF. He also served as owner and president of Coast Real Estate, where he specialized in retail leasing, ground up development and investment sales.

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REAL ESTATE

Crunch Fitness opens in Moreno Valley, Calif.

BY Michael Fickes

New York — Crunch Fitness has opened a 20,000-sq.-ft. location at the Moreno Valley Mall in Moreno Valley, Calif. Crunch Fitness’s neighbors include Harkins Theatres, Round 1, Victoria’s Secret, Zales, Aeropostale, Express, Footlocker, Forever 21, Hollister, The Children’s Place and New York & Co.

Macy’s, J.C. Penney and Sears anchor the center.

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