Town Center Retail Space Dwindles with Another Lease

VIRGINIA BEACH, VA-A comedy club has become the latest establishment to commit to retail space at the Town Center of Virginia Beach, the gargantuan 17-block mixed-use development going up in the heart of the city’s central business district. Funny Bone will feature a stage for stand-up acts as well as a dining area in a space offering 7,000 sf on the first floor and 2,500 sf on the second floor.

The terms of Funny Bone’s lease agreement with Divaris Real Estate Inc., which leases and manages the property on behalf of owner Town Center Associates, have not been disclosed. However, Divaris markets space in the 825,000-sf retail segment of the two million-sf development for $25 to $35 per sf. A bevy of other businesses have signed on for retail space at Town Center, including recently opened private dining club the Town Center City Club, which occupies 8,500 sf, as well as California Pizza Kitchen, the Cheesecake Factory, and PF Chang’s China Bistro.