Virginia Beach, Virginia – Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc. (Divaris) announced that the company has been selected by the Commonwealth of Virginia to support the Department of General Services (DGS) and its Division of Real Estate Services (DRES) by providing transactional advisory assistance related to a wide portfolio of real estate and property-related business across the entire Commonwealth. Divaris will provide an array of corporate services including transaction management, project management, brokerage, leasing, strategic planning and portfolio consulting for Virginia’s 130 million-square-foot portfolio of leased and owned real property.
The Commonwealth’s portfolio consists of approximately 400,000 acres of land in over 1,200 locations; 11,000 buildings; and 117 million square feet of space. Additionally, Virginia leases approximately 10 million square feet of rental space in 1,400 building locations.
“The Division of Real Estate Services has transformed in the past 10 years,” said Holly Law Eve, Director of the Division of Real Estate Services. “And, as a division, we are ready to continue on to the next level. We look forward to this new partnership with Divaris as change will bring a new approach to further refine the real estate services we offer to state agencies.”
The Commonwealth initiated a competitive selection process through a Request for Proposal (“RFP”) titled “Real Estate Brokerage, Transaction Management and Strategic Real Estate Planning Services” to evaluate commercial real estate firms’ expertise in delivering consistent transaction and project management across the State. DRES also evaluated each firms’ demonstrated track record of leveraging real estate technology and driving efficiencies and cost savings across large and complex public sector portfolios.
“We’re excited to serve the Commonwealth of Virginia with its on-going real estate needs,” said John Wingfield, principal of Divaris’ Richmond office and account manager on this assignment. “It’s an incredible partnership opportunity for our company as we strive to deliver excellent customer service to DRES and their customer – the State agencies.”
Divaris will provide supplemental support to DRES management and internal staff on real estate initiatives for property acquisitions, disposals, lease acquisitions, negotiations, ongoing examination of space utilization with existing leases, and overall strategic planning for all property usage at no direct cost to the Commonwealth.
“This is a terrific opportunity to partner with the Commonwealth of Virginia in its portfolio and workplace optimization efforts and to build upon our track record of results for private and public sector occupier clients,” said Sanford M. Cohen, chief operating officer of Divaris Real Estate, Inc. “It’s a significant initiative for the state, and we’re proud to support its success.”
“Our Government Services Division has a broad and distinguished client base in Virginia. We currently work with a half dozen political subdivisions across the Commonwealth. It is a major focus of ours and we have a demonstrated track record of success in partnering with them,” said Cohen.
Pursuant to a Governor’s Mandate (2004 Executive Order 75), The Department of General Services established the Division of Real Estate Management Services (DRES) to establish a new unified and fully integrated real estate portfolio management system that would enhance efficiency, improve performance, and reduce costs. Designed as a “one-stop-shop,” DRES’s duties include managing the portfolio, providing strategic planning, transactional negotiations including leasing, acquisition, disposal and easements, monitoring occupancy and efficient utilization of property, maintaining real estate information database and selling surplus real estate.
Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Northern Virginia serving metropolitan Washington, DC; and Charlotte, NC. 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 30 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, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S. Divaris is also the Virginia affiliate for The CORE Network, a national group of office and industrial brokers with affiliates throughout North America. These organizations represent corporate and institutional clients, tenants and buyers in all aspects of leasing, development, management, sales and acquisitions.