BI-LO Lease Building in Fayetteville, N.C.

Posted on October 15, 2007  /  in News Releases  /  No Comments

Fayetteville, North Carolina:  Diana Teitsma, Director of the Charlotte office of Divaris Real Estate Inc. (DRE), announced the signing of a lease with Pro Fit Management,Inc.for  42,163 square feet of retail space located at 1400 Walter Reed Road in Fayetteville,North Carolina. The property is a former  Bi-Lo Supermarket.

Together with Hilco Real Estate and Realty Resources, DRE was hired for the disposal of 36 Bi-lo and Bruno’s surplus sites, comprised of more than 1.3 million square feet. DRE is working with Bi-Lo to sublease the sites or to terminate the leases in order to reduce Bi-Lo’s overall lease obligations. To date, 23 properties have been sold, terminated, or leased.

Diana Teitsma represented the landlord, Bi-Lo/Hilco Real Estate, LLC in the lease negotiations with Pro Fit Management, Inc. doing business as Omni Health and Fitness.

Divaris Real Estate Inc. is headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport News, and Richmond, Va.; Charlotte and  Winston-Salem, N.C.; Atlanta, Ga.; and Rockville, Md. 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 in excess of 24 million square feet of prime office, retail and industrial space throughout the Mid-Atlantic and Southeastern states.

  Divaris Real Estate is a member of Realty Resources, 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, 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, as well as tenants and buyers in all aspects of leasing, development and managing properties, acquisitions and land sales. 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, 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, 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, as well as tenants and buyers in all aspects of leasing, development and managing properties, acquisitions and land sales. Gerald S. Divaris is chairman of the Board, and Michael B. Divaris is president of Divaris Real Estate Inc.

 

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