March 18, 2004
 

HAMPTON, VIRGINIA:  Michael B. Divaris, President of Divaris Real Estate, Inc. announced the sale of the three-story Class A office building located at 1435 Crossways Boulevard in the Greenbrier area of Chesapeake for $5,455,000. 
    
The buyer is a Hampton Roads investment group.  The seller, Armada Hoffler, was represented by Michael Divaris and Katherine Campbell of Divaris Real Estate’s Virginia Beach office.  Armada Hoffler is one of the largest full-service commercial real estate and construction companies in the Eastern United States.
   
In June, 2003, Armada Hoffler relocated its corporate offices to The Town Center of Virginia Beach.   Cherry Baekert and Holland and Faggert and Frieden, PC relocated to The Town Center as well, leaving the building virtually vacant.
   
Divaris Real Estate’s Office Leasing Division was responsible for coordinating and finalizing the leasing of 42,000 square feet of office space to significant tenants such as Marcus, Santoro and Kosak, PC; AutoTrader; and Walker Technologies.  
   
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.

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