Virginia Beach, Virginia: Michael B. Divaris, president of Divaris Real Estate, Inc. (DRE), announced the sale of a former PNC Bank branch, located 2568 Riva Road, in Annapolis, Maryland. The sale was handled on behalf of the seller, PNC Bank, by Joseph Farina, Director of the Washington D.C. regional office of Divaris Real Estate.
The 2,352-square-foot, former bank branch is located on one acre of prime real estate in Annapolis. The buyer, 2568 Riva Road, LLC, purchased the property for $1,250,000 and will redevelop the site to accommodate a multistory medical office property.
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 30 million square feet of prime office, retail and industrial space throughout the Mid-Atlantic and Southeast. Gerald S. Divaris is Chairmanof 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.