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February
16, 2007
Lowe’s
Home Center, Inc. Purchases Land in Pembroke Area of Virginia Beach
VIRGINIA BEACH,
VIRGINIA: Gerald S. Divaris,
Chairman of Divaris Real Estate Inc. (DRE),
announced the sale to Lowe’s Home Centers, Inc. of a 1.35 acre retail
site assemblage located at 4616 Pembroke Boulevard in Virginia
Beach, Va.
Founded in 1946, Lowe’s has grown
from a small hardware store in North
Carolina to the second
largest home improvement retailer worldwide and the 7th
largest retailer in the world. Lowe’s remains committed to offering
quality home improvement products at the lowest prices, while delivering
superior customer service from 1,450 stores in 49 states.
Divaris Real
Estate’s Investment Sales Group, Alexander Divaris and Jason Oliver,
represented the buyer, Lowe’s Home Centers, Inc., in the purchase. DRE
recently also represented Lowe’s in its purchase of the adjacent Divaris
leased and managed, Giant Square Shopping Center. Lowe’s plans to combine both parcels of land in order to
develop a new Lowe’s Home Improvement Store.
Divaris Real Estate Inc. is
headquartered in Virginia Beach, Va. with offices in Chesapeake, Newport
News, and Richmond, Va.; Charlotte and 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 24 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.
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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