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December 10, 2007
Divaris
Brokers 12-Acre Sale of Virginia Beach’s Giant Square Shopping Center
VIRGINIA BEACH,
VIRGINIA: Gerald S. Divaris,
chairman/CEO of Divaris Real Estate Inc. (DRE), announced the sale of Giant Square Shopping Center, located on 12.15 acres at 717 Independence Boulevard in Virginia
Beach, Va.,
to Lowe’s Home Centers Inc. for an undisclosed amount.
Plans for the existing property
include a new Lowe’s Home Improvement Store. The center will be leased by DRE and
managed by Divaris Property Management Corp.
With fiscal year 2006 sales of $46.9
billion, Lowe’s Companies Inc. is a FORTUNE® 50 company that serves
approximately 13 million customers a week at more than 1,450 home
improvement stores in 49 states. Founded in 1946 and based in Mooresville,
N.C.,
Lowe’s is the second-largest home improvement retailer in the world.
Gerald Divaris, Alex Divaris and
Jason Oliver, of DRE’s Virginia Beach office,
represented the buyer, Lowe’s Home Centers Inc., in the negotiations with
the seller, Giant Square Shopping Center Corp.
Divaris Real Estate Inc. is
headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport
News, and Richmond, Va.; Charlotte, N.C.; Winston-Salem, N.C.; Atlanta,
Ga.; and Rockville, Md. Divaris
Real Estate and Divaris Property Management Corp. are divisions of The
Divaris Group, an international real estate brokerage and property
management company that currently manages and/or leases in excess of 25
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 U.S. 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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