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M I X E D U S E
DRE Consulting Offers Essential Services to Developers The Divaris Consulting Group is a vital service for many developers. With large investments at stake, developers must be certain of their project’s position in the market before commencing construction. “Many times a developer, land owner or builder will have a piece of property or a concept for a project, but lacks the resources and expertise to quantify its highest and best use,” says Anne Millar Wright, assistant vice president of development with DRE. “Divaris Consulting Group takes the guess work out of whether or not a project will be profitable before it is built.” The group provides a viability study by looking at the market’s demographics and the property’s possible competitors and at the same time devising a specific “hook” for the project to provide its leasing program with a direction and focus. “Based on that information, we are able to make recommendations on the best use for the property. A business plan is created with preliminary cost estimates, project performance estimations and future value assessments that allow the client to move on to pre-development,” says Wright. “Pre-development can also be coordinated by Divaris Consulting Group. This involves assembling a team of architects, engineers, landscape architects, cost estimations and construction companies with leasing and property management. By having an organized approach with all concerns addressed before breaking ground, clients maximize their time and investment and minimize their risk.” The Divaris Consulting Group has
worked on numerous national projects for multiple developers. Some of the
more recent projects the group has handled include Springfield Mall in “We were able to create a
merchandising niche for The Village at As for the future, the Divaris Consulting Group plans not only to continue its services for developers, but also to address the issues facing colleges and universities. “John Millar has identified a unique development niche for college towns and universities,” says Wright. “John understands the complexity of their economic generators and has been able to recognize the incongruence in traditional demographic reporting. In analyzing this data, it has become apparent that major colleges and universities are largely overlooked by retailers, restaurateurs and hoteliers because they don’t understand the hidden economic factors that make these projects very viable and successful. Most demographic profiles include only full-time residents in the population studies, ignoring college students and direct visitors.” Millar was invited to be a guest speaker in October 2007 at the Association of University Real Estate Officials’ (AUREO) annual meeting. The response from universities interested in creating mixed-use “College Town Centers” was tremendous. “Colleges and universities are finding that mixed-use developments that offer shopping, dining and entertainment are an additional recruiting tool, an added amenity of not only campus living, but for the entire community as well,” says Wright. Because the Divaris Consulting Group
offers such valuable insight for developers, the group will continue to
expand in the coming years. “Divaris Consulting will continue to grow its
services, offering clients a full-service commercial real estate
company,” says Wright. Consulting projects for The Village at “At Divaris Real Estate, Inc. clients can go from idea conception, to construction, marketing, leasing, and management -- to selling their investment property upon completion and stabilization. With the current market, there has never been a greater demand for consulting services,” Wright concludes. Divaris Real Estate, Inc.
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