Divaris to Lease and Manage Virginia Power Center

by Nate Hunter

Williamsburg, Va.  Phase II will wrap in 2013.

Williamsburg, Va.  — Divaris Real Estate (DRE) has been selected to lease and manage The Marquis, a 750,000-square-foot regional power center, which will be the largest retail development in Williamsburg when it is complete. The first phase is currently open, and the second phase will wrap in fall 2013. Big box retailers include Target, Kohl’s, Dick’s Sporting Goods, Best Buy and J.C. Penney. The property is owned by Todd Interests.

“Now that Todd Interests has acquired the property and has stabilized the issues of The Marquis’ former developer, we are excited about the ongoing plans for redevelopment,” says David Berndt, partner in David Berndt Interests, which has entered a joint venture with Todd Interests for the additional development of the site.

The Marquis will be managed from the Newport News, Va., office of Divaris Property Management Corp, with leasing being handled by Gerald Divaris and Mary McGovern of the Virginia Beach office of DRE and Larry Agnew and Zach Means from DRE’s Richmond office.

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