Newport News, Virginia: Michael B. Divaris, President of Divaris Real Estate, Inc. announced the sale of Newmarket South Shopping Center located at 5100 Mercury Boulevard in Newport News, Virginia to The Dilweg Companies. The 391,785-square-foot shopping center is anchored by Food Lion, The Dump, Goodwill Super Thrift Store and A&N Superstore. It is leased by Divaris Real Estate.
The Dilweg Companies was established in 1997 and is headquartered in Durham, North Carolina. The company’s portfolio of commercial properties is valued in excess of $175 million.
The seller, Equity Investment Group, was represented by Michael Divaris, Alexander Divaris and Jason Oliver of the Investment Sales Group of Divaris Real Estate’s Virginia Beach office and Daniel Finkle of Holliday Fenoglio Fowler, LP.
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 and Tampa, 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, Inc. 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.