REAL ESTATE

SRS adds to its investment sales team

BY Michael Fickes

Dallas SRS Real Estate Partners has signed John topping and Robert Drake to its Southeast Investment Sales Team.

Topping joins SRS as an associate in the Atlanta office. He previously worked at Marcus & Millichap where he specialized in single tenant auto parts retailers and single tenant transactions 8,000 sq. ft. and larger in the Sandy Springs, Alpharetta, Marietta and Dunwoody markets. He also carried out investor presentations on the current standing and forecast direction of auto parts retailers in the marketplace.

Drake will come on board as an investment sales analyst in the Atlanta office. He comes to the firm from State Farm where he handled health and life insurance sales, business-to-business insurance sales and financial services sales.

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REAL ESTATE

Divaris announces leases across Hampton Roads

BY Michael Fickes

Virginia Beach, Va. — Divaris Real Estate has announced four leases totaling 29,099 sq. ft. of retail space in the Hampton roads area of Virginia.

PetSmart has taken 14,286 sq. ft. at Peninsula town Center in Hampton. As the chain’s exclusive representative in Virginia, the Richmond office of DRE represented PetSmart in the negotiations.

Ulta has signed a lease for 10,500 sq. ft. in Crossways Shopping Center in Chesapeake. DRE’s Virginia Beach office represented the landlord, JLP-Chesapeake in the transaction.

Noodles and Company will occupy 2,813 sq. ft. on an outparcel at Patrick Henry Mall in Newport News. DRE’s Virginia Beach office handled this transaction, too.

Taco Bell will move into a 1,500-sq.-ft. space at College Parkway Crossing at Harbour View in Suffolk. DRE’s Virginia Beach office represented Taco Bell in the negotiations.

Divaris Real Estate, Inc. is headquartered in Virginia Beach, Va., with offices in Newport News, Norfolk, Richmond and Roanoke, Va.; Charlotte, N.C; and metropolitan Washington, DC. DRE 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

GGP to redevelop Southwest Plaza in Denver

BY Michael Fickes

Littleton, Colo. — General Growth Properties plans to redevelop its 1.3 million-sq.-ft. Southwest Plaza in southwest Denver. The multi-million dollar project will renovate Center Court with open-air cafes, new seating areas, free WiFi access for social networking, new directional signage, indoor fireplaces, skylights and light coves.

The mall’s five department stores – Dillard’s, J.C. Penney, Macy’s, Sears and Dick’s Sporting Goods – will remain in place and the mall will be open throughout the project. Plans call for the completion of the redevelopment by the fall of 2015.

Studio H2G (Birmingham, MI) is Design Architect for the Southwest Plaza renovation, with Omniplan (Dallas) serving as Architect of Record.

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