Portsmouth, Virginia: Michael B. Divaris, President of Divaris Real Estate, Inc. announced the sale of Elmhurst Square Shopping Center located at 5660 Portsmouth Boulevard in Portsmouth, Virginia to Perrine Wheeler. The fully occupied, 66,250-square-foot shopping center, located on 7.29 acres, is anchored by Food Lion.
Perrine Wheeler Investment Real Estate is a Norfolk, Virginia-based real estate acquisition, development, leasing and management company. Its portfolio includes 26 shopping centers with over 2,200,000 square feet, located throughout the Mid-Atlantic, Southeast and Southwest.
There were two sellers, Tidewater Jewish Foundation and JRT Brothers Partnership. Both of the sellers were represented by Michael Divaris, Alexander Divaris, and Jason Oliver of the Investment Sales Group in Divaris Real Estate’s Virginia Beach office. The center is leased by Divaris Real Estate and managed by Divaris Property Management Corp.
Divaris Real Estate, Inc. is headquartered in Virginia Beach, Virginia with offices in Chesapeake, Newport News, and Richmond, Virginia; Charlotte, North Carolina; Atlanta, Georgia; Rockville, Maryland; and Boca Raton, Florida. It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 20 million square feet of prime office, retail, and industrial space throughout the Mid-Atlantic and Southeastern states.
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 United States. 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, as well as tenants and buyers in all aspects of leasing, development, and managing properties, acquisitions and land sales. Gerald S. Divaris is Chairman of the Board and Michael B. Divaris is President of Divaris Real Estate, Inc.