Posted on November 23, 2009  /  in News Releases  /  No Comments

Virginia Beach, Virginia:  Gerald S. Divaris, Chairman/CEO of Divaris Real Estate Inc. (DRE), announced the sale of the 5,183-square-foot Applebees Restaurant located at 1426 Kempsville Road in Virginia Beach to Good Steward Properties-Kempsville, LLC, for $1.95 million.

Alexander Divaris and Jason Oliver of Divaris Real Estate’s Investment Sales Group represented the buyer, a private investor, in the transaction.  The seller of the property was DBAPPLEF, LLC.  The property remains in a long-term lease to Applebee’s International.

Applebee’s International, Inc. develops, franchises and operates casual dining restaurants under the trademark of Applebee’s Neighborhood Grill & Bar.  The company is headquartered in Overland Park, KS.  Applebee’s is the largest casual dining concept in the world with more than 1,900 restaurants across the United States and 17 international countries.

Divaris Real Estate Inc. is headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport News, downtown and suburban Norfolk and Richmond, Va.; Charlotte, N.C.; 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.

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