Coliseum Corner is Sold to Ziff Properties, Inc.

HAMPTON, VIRGINIA:  Michael B. Divaris, President of Divaris Real Estate, Inc. announced the sale of Coliseum Corner shopping center located at 2165 Cunningham Drive in Hampton, Virginia to Ziff Properties, Inc. The 49,444-square-foot shopping center is anchored by Rugged Wearhouse and Washington Mutual Finance and is leased and managed by Divaris Real Estate.
 
Ziff Properties was formed in 1992 and has acquired over 2 million square feet of office, retail, light industrial and flex properties in Northern Florida, Georgia, South Carolina, North Carolina and Virginia.  Ziff is based in Charleston, South Carolina.
 
The seller, Crown Life Insurance Company, was represented by Michael Divaris, Alexander Divaris, and Jason Oliver of the Investment Sales Division in Divaris Real Estate’s Virginia Beach office.
 
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.

-30-