DRE Leases 61,897 Square Feet of Office Space in Santa Monica, CA

Posted on May 09, 2000  /  in News Releases  /  No Comments

Virginia Beach, Virginia:  Gerald S. Divaris, Chairman/CEO of Divaris Real Estate, Inc., announced the signing of two leases totaling 61,897 square feet of office space located at 2401 Colorado Avenue in Santa Monica, California.

The first lease was signed with Edmunds.com, for 33,397 square feet.   The company was the first site on the internet to provide free automobile pricing information.  In addition, Edmunds.com also provides reviews, consumer information and news on incentives and rebates.  The company was formed in 1966, as the publisher of Edmund’s New Car Prices and Reviews, Edmund’s New Truck Prices and Reviews, and Edmund’s Used Car Prices and Reviews.

The second lease was signed with InterPacket Group, Inc. for 28,500 square feet.  Interpacket is the world’s leading satellite-based Internet network.  They develop and manage a satellite-based IP network for delivery of Internet services across more than 80 countries around the world.  As the world’s leading satellite-based Internet company, they provide customers, worldwide, with Internet broadcasting, high-speed connectivity and a variety of Internet connections.  They operate  regional offices worldwide.

Michael Divaris, President of Divaris Real Estate, negotiated the leases on behalf of Rysher Entertainment, a subsidiary of Cox Communications.  In March, 1999, Rysher selected Divaris Real Estate and CRESA Partners, Los Angeles, to assist them in the subleasing of their surplus offices at  2401 Colorado Avenue, where they occupied 62,000 square feet.  DRE and  CRESA Partners, Los Angeles were awarded the assignment over  several real estate companies nationwide.  Within 12 months,  the entire space was leased at market rentals.

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.


Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

Tags: , , , ,

Comments are closed.