Chesapeake, Virginia: Gerald Divaris, Chairman/CEO of Divaris Real Estate, Inc., announced the sale of 8.837 acres of land located at the intersection of Chatham Drive and Boykin Lane in Newport News, Virginia.
Rubloff Development Group purchased the property for $1,998,739 from Two-O-Seven Company, L.L.C., and will use the land to construct a 60,000 square foot Frank’s Nursery. The building will encompass 22,000 square feet on two parcels of land. In addition, there will be a 32,000 square foot yard area and a 6,000 square foot covered building.
John Knibb, DRE’s Chesapeake office Partner, represented the Seller in the negotiations. Frank’s will join such tenants as Farm Fresh, Home Depot, Wal-Mart and Sam’s Club on the property. Parcels E and F were also previously sold by Knibb. The Buyer was represented by The Shopping Center Group of Virginia.
Divaris Real Estate, Inc. is headquartered in Virginia Beach, Virginia with offices in Norfolk, Chesapeake, Newport News, and Richmond, Virginia; Charlotte, North Carolina; Atlanta, Georgia; Bethesda, Maryland; and Tampa, Miami, and St. Augustine, Florida. It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 24.5 million square feet of prime office, retail, and industrial space throughout the Mid-Atlantic and Southeastern states. Divaris Real Estate, Inc. is a member of Realty Resources, a national group of independent retail property brokers and managers covering 75 major markets throughout the United States. This organization represents corporate and institutional clients, as well as tenants and buyers in all aspects of leasing, development, and managing properties, as well as in acquisitions and land sales. Gerald S. Divaris is Chairman of the Board and Michael B. Divaris is President of Divaris Real Estate, Inc.