Virginia Beach, Virginia: Michael B. Divaris, president of Divaris Real Estate Inc. (DRE), announced the sale of the 7,018-square-foot Merchant’s Tire & Auto Center, located at 1136 Independence Boulevard in Virginia Beach, Va., to Wynnewood Associates LLP for $2.1 million.
Merchant’s Tire & Auto Center is part of TBC Corp., a wholly-owned subsidiary of Sumitomo Corp. of America.
Michael Divaris, Alex Divaris and Jason Oliver, of DRE’s Investment Sales Group, represented the seller, The Holt Family Trust, in the negotiations with the buyer, Wynnewood Associates LLP.
Divaris Real Estate Inc. is headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport News, and Richmond, Va.; Charlotte and Winston-Salem, N.C.; Atlanta, Ga.; and Rockville, Md. It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 24 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.