SHIPPENSBURG, PENNSYLVANIA: Gerald S. Divaris, Chairman & CEO of Divaris Real Estate, Inc. announced that the company’s Investment Sales Group has brokered the sale of Shippensburg Marketplace for $12,000,000.
Divaris represented the Seller, ACL Realty Corp., in the transaction; American Realty Capital Properties, Inc. was the Purchaser. Shippensburg Marketplace is a 56,875 square foot, Giant-anchored shopping center, located at 397 Baltimore Road in Shippensburg, Pennsylvania. The property was developed in 2002 and was 94.0% occupied at the time of the sale.
Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; and Washington, DC. 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 approximately 23 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. 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, tenants and buyers in all aspects of leasing, development, management, sales and acquisitions.