Virginia Beach, Virginia: Gerald S. Divaris, Chairman/CEO of Divaris Real Estate, Inc., announced the signing of a lease with Faggert and Frieden, P.C. for approximately 14,000 square feet of office space in the Divaris leased and managed Tower Building in The Town Center of Virginia Beach, now under construction in Virginia Beach’s Central Business District. Faggert & Frieden, P.C. will relocate its Chesapeake office to Virginia Beach.
Faggert & Frieden, P.C. is a well-established local law firm whose specialty has been in real estate law. They have built their reputation by providing services to some of the major real estate developers in Hampton Roads, Virginia. They will be joining several other major firms who have already committed to The Town Center including Williams Mullen Clark & Dobbins, Troutman Sanders Mays and Valentine, Pender & Coward, the City of Virginia Beach’s Department of Economic Development, and Armada/Hoffler Holding Company.
The Town Center of Virginia Beach is a major mixed-use main street, urban-style development. Ultimately the development will include 800,000 square feet of Class A office space, the tallest office towers in the metropolitan area, 750,000 square feet of upscale retail space, two hotels, 600 apartments and numerous entertainment and recreational facilities. The project is a public/private partnership with the City of Virginia Beach, which is building the parking garages, roads and services. The first phase will be completed in the fall of 2002.
Divaris Real Estate, Inc. is the exclusive leasing agents and property manager for the development. The project is being developed by Town Center Associates LLC, a joint venture between Armada/Hoffler Holding Company and the principals of Divaris Real Estate. Armada/Hoffler Construction Company is the contractor.
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; Rockville, Maryland; and Boca Raton, Tampa, Fort Lauderdale, Hollywood and St. Augustine, Florida. It is an international real estate brokerage and property management company that currently manages and/or leases in excess of 28.2 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; and CORE, a national group of full-service commercial 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.