Divaris Closes Virginia Beach Tech Firm Lease

By Bogdan Odagescu

4525 Main St. in Virginia Beach, Va.

Richmond, Va.—Divaris Real Estate Inc. has closed on a 39,000-square-foot lease at the 4525 Main St. office tower within Virginia Beach’s Town Center development. The IT company will occupy the top floor of the property, as well as the majority of the eighth floor.

Vivian Turok, senior vice president with Divaris, assisted Mythics in finding the location, while President Michael Divaris and Vice President Krista Costa represented the landlord.

“Mythics, as a leading technology firm, is an ideal addition to the Town Center’s newest LEED Silver certified office tower,” said Michael Divaris in a prepared statement. “With 4525 Main Street now 95 percent occupied, we are dusting off the plans for the next office tower and will look for another quality corporate tenant,” Divaris said.

4525 Main St. in Virginia Beach, Va.

The 15-story 4525 Main St. building, which features 23,000 square feet of ground-floor retail, was completed in the last quarter of 2014. Located across Virginia Beach Boulevard from the Pembroke Mall, 4525 Main St. is also situated in close vicinity to a Dick’s Sporting Goods, the Princess Anne High School, Walmart, Kmart, a plethora of dining options, as well as several hotels, multifamily communities and other dense residential areas. The building also offers 950 parking spaces. The property’s tenant roster includes Clark Nexsen, Anthropology and the Virginia Beach Development Authority.

Mythics, which is currently headquartered at 1443 N Great Neck Road in Virginia Beach, will relocate 143 full-time employees to the company’s new base. As part of the expansion plan, Mythics also plans to create 30 additional full-time positions.

The 239,000-square-foot Main Street Tower is part of a multi-phase, public-private partnership between the City of Virginia Beach and Armada Hoffler. According to Divaris, the development currently comprises 900,000 square feet of Class A office space spread across seven buildings. Located midway between central Norfolk and the Virginia Beach waterfront, Town Center at Virginia Beach is being managed by Divaris Property Management Corp.

Images courtesy of Armada Hoffler Properties