Virginia Beach, Virginia: Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc., (DRE), announced that the former Kimnach Ford Dealership property, located at 6401 Virginia Beach Boulevard in Norfolk, Virginia, has sold for $3,850,000.
The transaction’s closing took place at the end of December, 2011. David Bickford, of DRE, represented the buyer, Auto Connection. The new owner will relocate and expand their business from across the boulevard to the 8.85-acre site which has 65,000 square feet in existing buildings.
The space became available when Ford rationalized their dealerships in the area and the dealership closed and the property was put on the market for sale. The sellers comprised a consortium of local property owners who were selling the property because it no longer met their long-term needs.
Bickford represented Auto Connection in their search for space in which they could grow and expand their business. After looking at several options, they selected this site because it was situated in close proximity to their existing space and offered an excellent opportunity for their long-term needs since it was already a dealership facility. Auto Connection is affiliated with Mike Sifen, Inc., Mike Sifen and his brother Barry.
Divaris Real Estate Inc. is headquartered in Virginia Beach, VA with offices in Chesapeake, downtown and suburban Norfolk, Newport News, and Richmond, VA; Charlotte, NC 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 30 million square feet of prime office, retail and industrial space from New Jersey to Florida.
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 across the country. These organizations represent corporate and institutional clients, 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.