Virginia Beach, Virginia: Michael B. Divaris, president of Divaris Real Estate, Inc. (DRE), announced the sale of a net-leased Jiffy Lube, located at 2105 E. Joppa Road, in Parkville, Maryland. The 1,936-square-foot building was purchased for $1,065,000 with a cap rate of 10 percent. The sale was handled on behalf of both the buyer, Jiffy Joppa, LLC, and the seller, DLS Exchange Corporation, by Joseph Farina, Director of the Washington D.C. regional office of 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 30 million square feet of prime office, retail and industrial space throughout the Mid-Atlantic and Southeast. 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.