Armada Hoffler and Divaris Announce New-To-Market Interactive Entertainment Concept Coming to Town Center of Virginia Beach

Apex Entertainment to Backfill Dick’s Sporting Goods Building 

Apex Entertainment in Marlborough, Mass.VIRGINIA BEACH, Va., Oct. 30, 2019– Armada Hoffler Properties, Inc. (NYSE: AHH) and Divaris Real Estate, Inc. (DRE) announced today that Apex Entertainment has chosen the Town Center of Virginia Beach as the site of its first Mid-Atlantic location.  Apex Entertainment is a top tier family entertainment center with attractions that include bowling lanes, sports simulators, virtual reality, ropes courses, indoor go-karting, corporate function space, and more.

 

Apex Entertainment has leased 84,000 square feet over two floors, located at 4621 Columbus St., currently occupied by Dick’s Sporting Goods. Redevelopment and construction will begin in February, immediately upon the expiration of the Dick’s Sporting Goods lease. Apex Entertainment expects to open to the public before the end of 2020.

Divaris Real Estate’s Town Center of Virginia Beach retail leasing team of Sezin Cortinas, Gerald Divaris and Erica Rorrer represented the landlord in the lease negotiations.

“Apex Entertainment’s selection for their first Mid-Atlantic location reflects our ability to develop and manage high-quality spaces that meet the needs of multi-faceted and progressive companies,” said Louis Haddad, President & Chief Executive Officer of Armada Hoffler Properties. “The expiration of the Dick’s Sporting Goods lease created an amazing opportunity and one that we had long anticipated. Apex Entertainment will add a unique, experiential, and innovative concept to the already dynamic Town Center of Virginia Beach environment.”

“Apex Entertainment is excited to be coming to the Town Center of Virginia Beach,” said Marcus Kemblowski, Chief Operating Officer of Apex Entertainment. “With our unique concept we offer something for all ages and every member of the family. Our mission is to create a memorable experience for all guests and have a strong presence within the community.”

“This year makes it 20 years since Town Center of Virginia Beach broke ground in 1999.  And since that time, the 17 city blocks have become a focal point where shoppers, diners, office workers and residents converge to enjoy many family-friendly events throughout the year.  Apex Entertainment will add greatly to the regional draw of the Town Center,” according to Gerald S. Divaris, chairman and CEO of Divaris Real Estate.

Other entertainment tenants in Town Center of Virginia Beach include Sandler Center for the Performing Arts, Zeiders American Dream Theater, Funny Bone Comedy Club, Muse Paintbar and Regal Cinemas 12.

About Armada Hoffler Properties, Inc.

Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust (“REIT”) with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes.

About Apex Entertainment

Apex Entertainment is a family entertainment company that first started in 2017 based out of Marlborough MA. Apex offers attractions that are fun for all ages with such activities as: Indoor Go Karting, Bowling, Laser Tag, Escape Rooms, Ropes Courses, Arcade and Redemption, Sports Simulators, Mini Golf, Bumper Cars, Virtual Reality, and state-of-the-art Event Meeting Space. Each location also houses a full-service dining experience with American Cuisine & Handcrafted cocktails where the menu boasts over 50 gluten free options along with numerous vegetarian options. Apex Entertainment is a first-class entertainment experience and continues to develop new ways to be the industry leader in fun!

About Divaris Real Estate

Divaris Real Estate, Inc. (http://www.divaris.com) is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; Beverly Hills, CA; and Washington, DC.  Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, an international real estate brokerage and property management company that currently manages and/or leases over 31 million square feet of prime office, retail and industrial space from New Jersey to Florida. Gerald S. Divaris is Chairman of the Board, and Michael B. Divaris is President of Divaris Real Estate, Inc.

Divaris Real Estate is a member of Realty Resources, (http://www.realtyresources.org/) a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.  DRE is also the Virginia affiliate for The CORE Network, (http://www.corenetworkcre.org/) a national group of office and industrial brokers with affiliates throughout the U.S., Canada, Mexico, Asia and Europe. These organizations represent corporate and institutional clients, tenants and buyers in all aspects of leasing, development, management, sales and acquisitions.

###

Armada Hoffler Contact:

Michael P. O’Hara

Armada Hoffler Properties, Inc.

Chief Financial Officer, Treasurer, and Secretary

Email: MOHara@ArmadaHoffler.com

Phone: (757) 366-6684

 

Apex Entertainment Contact:

Marcus Kemblowski

Apex Entertainment

Chief Operating Officer

Email: mkemblowski@apexentertainment.com

Phone: (508) 251-8666 ext. 100