Divaris Brokers the Acquisition of Two Land Parcels in Virginia for $1.1 Million

Posted on June 21, 2013  /  in News Releases  /  No Comments

Virginia Beach, Virginia: Gerald S. Divaris, Chairman/CEO of Divaris Real Estate, Inc. (DRE), announced the acquisition of two land parcels in Virginia by Pavilion Capital LLC for a total of $1.1 million. The sales were handled on behalf of the purchaser by Zach Means and Larry Agnew, Vice Presidents in the Richmond office of Divaris Real Estate.

Lowe’s Home Centers sold 0.86 acres of land at 2200 South Pleasant Valley Road in Winchester, VA. Pavilion purchased the property, adjacent to Lowe’s, for $575,000.

In a separate transaction, Pavilion purchased 0.78 acres of land in Chesapeake, VA for $525,000. The parcel, located at Edinburgh South, was sold by MAG Edinburgh Associates LLC.

Both properties will be build-to-suit developments for Merchant’s Tire, an auto service center retailer offering quality name-brand tires and comprehensive automotive services.

Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Chesapeake, 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 in excess of 30 million square feet of prime office, retail and industrial space throughout the Mid-Atlantic and Southeast. 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.

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