Divaris’ Greater DC Office Completes Three Commercial Lease Transactions

Posted on December 01, 2014  /  in News Releases  /  No Comments

WASHINGTON, DC: Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc. (DRE), announced the signing of three leases, totaling approximately 20,000 square feet of retail space in the greater Washington, DC area.

Save-A-Lot signed a lease for 13,875 square feet of retail space in the Divaris-leased Shoal Creek Mall located at 640 Sunburst Highway in Cambridge, Maryland.  The lease negotiations were handled on behalf of the landlord, Nightingale Realty, by Joseph Farina of Divaris’ Washington, D.C. regional office.  The grocery store will join Walgreens and Advanced Auto Parts in the shopping center.

Georgia Tech Research Institute leased 3,201 square feet of office at 46610 Expedition Drive in Lexington Park, Md.  The tenant was represented by DRE’s Farina and Amit Grover in the lease negotiations with the landlord, Wildewood One, LLC.  Georgia Tech Institute will be using the space to provide and expand their support to Naval Aviation customers, coordinate and host professional education courses to be taught onsite by their professors and staff and represent GTRI with local professional organizations and the community in general.

Avis Budget Group signed a lease for 2,419 square feet of retail space at 5911 Blair Road, NW in Washington, DC.  The site will be a tri-branded location for Avis and Budget Rental Cars, and Zipcar, the world’s leading car sharing network with over 860,000 members.  Grover and Farina represented the tenant in the lease negotiations with the landlord.

About Divaris Real Estate

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 in excess of 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.

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