O F F I C E

DRE's Vivian Turok and Michael Divaris represent design firm Patton Harris Rust & Associates throughout the Mid-Atlantic

DRE’s Corporate Services Group
Keys in on Client Relationships

VIRGINIA BEACH, VIRGINIA — As president of Divaris Real Estate, Inc., (DRE) Michael Divaris understands the importance of key client relationships, especially in the corporate services market, where business is determined by the quality of service from start to finish.

“Developing client relationships takes time, but once we have established a working partnership, we maintain it by providing first class service consistently from one transaction to the next,” says Divaris. “As we pick up new initiatives, we stay on top of market trends that will become the norm across the country. We work to keep operating expenses in check.”

Establishing client relationships occurs in many ways, according to Divaris. Sometimes there is a link from one company to another where a referral is provided, and, as always, the key is to be in the right place at the right time. The major advantage that DRE’s corporate services group offers over that of national players, is local expertise. Oftentimes Divaris’ national clients need detailed, reliable information at the local level, so working with leading local service providers, DRE analyzes its clients’ needs and engages local support to secure the best opportunities for its clients. Understanding a client’s specific requirements is the key to offering world-class service.

“In all the lease deals we’ve done — more than 200 in the last few years alone — we have never had a misstep because we know exactly what our clients need. If you understand your client, it puts you ahead when going into new markets,” says Divaris. “We don’t always go for the most aggressive rental deal, but we do want it to be fair. We work with the landlords and the tenants as both want to minimize occupancy costs.”

Generally speaking, the corporate services industry is changing. Leases are changing as a consequence of the transformation of the landlord/tenant relationship which has become more like a partnership. Tenants are as interested in who their landlord is going to be, as they are in their location. Tenants want convenience and comfort for their employees, such as enclosed free parking, security, and amenities like restaurants, gyms, retail, banking, medical and entertainment in close proximity to their offices. Leadership in Energy and Environmental Design (LEED) certification of environmentally friendly buildings also is beginning to be of interest. These buildings are more expensive to build and therefore require higher rents, but tenants are increasingly willing to pay a premium. Real estate taxes and the local market conditions always factor into a client’s decision to lease, as this is a sign of future occupancy costs.

Virginia Beach’s Corporate Services team of Michael Divaris and Krista Costa has been responsible for several key corporate services transactions, including one with Hayes, Seay, Mattern & Mattern that leased in excess of 100,000 square feet in Roanoke, Va. In addition, DRE brokered a lease for Dermalogica, for a 165,000-square-foot headquarters in Southern California. This was a unique transaction in which Dermalogica secured its requirements at an occupancy cost of 40 percent less than it had been paying previously.

Other corporate services deals recently completed by DRE include: Vivian Turok’s joint assignment with Michael Divaris to exclusively represent multi-disciplinary design firm Patton Harris Rust & Associates with its real estate needs across the Mid-Atlantic region; DRE’s Richmond office worked with Packet360, represented by Brett Womack to relocate its headquarters to a 10,273-square-foot space at East Shore I in Glen Allen, Va. Womack and Debbie Wake, also of the Richmond office, represented law firm LeClair Ryan in leasing 4,345 square feet of office space at One Columbus Center in The Town Center of Virginia Beach. This was DRE's third lease with LeClair Ryan.

“A lot of these transactions take time,” says Divaris. “This activity is not just leasing office space — we bring to the table something unique, which the typical office user does not have in-house. Our leasing expertise, combined with up-to-the-minute, comprehensive local knowledge provides solid information on which to make decisions.”