Marketplace at Tech Center in Newport News Hits 70% Pre-Leased Mark

Marketplace at Tech Center is the retail component of the $250 million Tech Center at Oyster Point mixed-use development, in the heart of Newport News. Although work on the project only started this march, the center is already 70% preleased. Divaris Real Estate, Inc., a Virginia Beach company hired to lease and manage the retail center upon its completion, made the announcement on July 7.

Although work on Marketplace at Tech Center started only this March, the retail component of the $250 million Tech Center at Oyster Point in Newport News is already 70 percent leased, according to Divaris Real Estate, Inc., the property’s manager and leasing agent.

Newport News-based W.M. Jordan Co. is developing the 100-acre Tech Center, which will feature 230,000 square feet of retail, 290 luxury apartments, and 30,000 square feet of specialty office space in addition to the planned research park anchored by Thomas Jefferson National Accelerator Facility.

Meanwhile, Georgia-based S. J. Collins Enterprises is developing the Marketplace at Tech Center. More than 148,000 square feet of the retail space was leased before groundbreaking.

Marketplace at Tech Center will open in July 2015. Its lineup of retailers will include several national brands making their local debuts, including Whole Foods, DSW Shoe Warehouse, BJ’s Brewhouse, PF Chang’s China Bistro, Carters, Café Rio, OshKosh B’gosh, Zoe’s Kitchen and Avalon Spa. The tenant roster also includes Stein Mart, ULTA Salon, Cosmetics and Fragrances, Five Below, Massage Envy, Navy Federal Credit Union, Starbucks, Jimmy Johns Gourmet Sandwiches, Hair Cuttery and Conte’s Bike Shop.

“The draw of Whole Foods has also helped to attract the exciting tenant line up that has been secured for the development,” said Gerald Divaris, chairman & CEO of Divaris Real Estate, in a statement. “Many more exciting retailers will be announced in months to come.”<

Photo credits: Divaris Real Estate, Inc.