Divaris Real Estate’s Washington DC Office Completes Four Transactions Totaling 53,534 Square Feet

Posted on September 04, 2019  /  in News Releases  /  No Comments

TYSONS CORNER, VIRGINIA: Divaris Real Estate, Inc. (DRE), announced the completion of four transactions totaling 53,534 square feet of commercial properties in Northern Virginia.

Sale Transactions

Former PNC Bank branch at 107 Free Court in Sterling, Va

Former PNC Bank branch, 107 Free Court, Sterling, Va

Bapa Nova, LLC purchased the 13,130-square-foot former PNC Bank branch located at 107 Free Court in Sterling, Virginia, from PNC Bank, NA for $1,275,000.   Joe Farina and Amit Grover represented the seller in the transaction.

The property is a two-story (plus basement), freestanding, mixed-use building.  It contains retail on the ground level with offices above and below and four drive-thru lanes.  The site was developed in 1984 and is located on 0.91 acres at the intersection of Free Court and Commerce Street, in a densely populated area of Loudoun County.  It is shadow anchored by a retail shopping center with many tenants serving the predominantly residential surrounding community.

Ricardo Ortiz & Mayra Sarmiento-Nava purchased the 2,884-square-foot former PNC Bank branch located at 36344 Lankford Highway in Belle Haven, Va, from PNC Bank, NA for $195,000.   Joe Farina and Amit Grover brokered the sale on behalf of the seller.

In recent years, Divaris Real Estate has completed over 30 dispositions of surplus properties on behalf of PNC Bank.

Lease Transactions

Halloween City leased 36,470 square feet of retail space in the Divaris-leased and -managed Parkridge Center located at 11096 Bulloch Drive in Manassas, Va.   Joseph Farina and Cassandra Maloney represented the landlord in the lease negotiations.  Key tenants in Parkridge include Kohl’s, Regal Cinemas, Old Navy, Duluth Trading Co., Famous Footwear and Lane Bryant.

A+ Kids Fun & Creative Learning Center leased 1,050 square feet of retail space in Garfield Park located at 925 North Garfield Street in Arlington, Va.  Rob Gray, Tony Thur and Brandon Howard represented the tenant in the lease negotiations.

About Divaris Real Estate

Divaris Real Estate, Inc. (http://www.divaris.com) is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; Beverly Hills, CA; 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 over 31 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, (http://www.realtyresources.org/) 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, (http://www.corenetworkcre.org/) 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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