Virginia Beach, Virginia: Michael B. Divaris, president of Divaris Real Estate Inc. (DRE), announced the sale of the 12,461-square-foot Marketplace Square Shopping Center, located at 5915 High Street West in Portsmouth, Va, to Victoria Holding Company, LLC for approximately $1.1 Million. Tenants at the property include Subway, Albano Cleaners and Reactions Hair Design.
Alex Divaris and Jason Oliver of DRE’s Investment Sales Group, represented the seller, FT Associates Company, LLC.
Divaris Real Estate Inc. is headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport News, 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 25 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.