Frederick, Maryland: Gerald S. Divaris, Chairman/CEO of Divaris Real Estate, Inc., announced the sale of a 13.7 acre parcel of land at 10 East Walser Drive in Frederick, Maryland to Costco Wholesale Corporation.
Costco Wholesale Corporation operates an international chain of membership warehouses, mainly under the “Costco Wholesale” name, that carry quality, brand name merchandise at substantially lower prices than are typically found at conventional wholesale or retail sources. The warehouses are designed to help small-to-medium sized businesses reduce cost in purchasing for resale and for everyday business use. As of June, 2001, Costco operates 261 sites in the United States, 60 sites in Canada, with additional stores in Taiwan, Korea, Japan and Mexico. With a warehouse size of 70,000 to 160,000 square feet, Costco’s sites average 133,000 square feet in size.
Earl Goodman and Alan Luger of DRE’s Rockville, Maryland office represented the Seller, Crossroads Associates, LLC in the negotiations. Costco Wholesale Corporation was represented by Northwest Atlantic Realty.
Divaris Real Estate, Inc. is headquartered in Virginia Beach, Virginia with offices in Norfolk, Chesapeake, Newport News, and Richmond, Virginia; Charlotte, North Carolina; Atlanta, Georgia; Rockville, Maryland; and Boca Raton, Tampa, Fort Lauderdale, Hollywood and St. Augustine, Florida. It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 28.2 million square feet of prime office, retail, and industrial space throughout the Mid-Atlantic and Southeastern states.
Divaris Real Estate, Inc. is a member of Realty Resources, a national group of independent retail property brokers and managers covering 75 major markets throughout the United States; and CORE, a national group of full-service commercial 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.