Virginia Beach, Va. (February 22, 2023) – The Divaris Group today announced a portfolio acquisition of 2.3 million square feet of space, including over one million square feet of new property management assignments and 1.3 million square feet of new engineering assignments now included in Divaris’ 37.3 million square feet of managed and leased space.
This portfolio growth is the result of a joint venture between the Divaris Group and KLNB. KLNB’s recent acquisition of Edge Commercial Real Estate strategically expanded KLNB’s property management portfolio, which will be managed by Divaris Property Management Corp. The new portfolio comprises a mix of office buildings, retail, and industrial properties, and will be managed by Divaris from KLNB’s newly acquired office in Rockville, Md.
“This expansion is indicative of the success of the KLNB joint venture and an exciting time for both companies. It is the start of a growth initiative that we have planned for some time to offer our current and future clients the full spectrum of vertically integrated real estate services, throughout the country,” said Gerald Divaris, Chairman of the Divaris Group of companies, and CEO of Divaris Real Estate.
###
FAST FACTS:
Gerald Divaris serves as Chairman of the Divaris Group of companies, which includes Divaris Real Estate and Divaris Property Management Corp.
KLNB Asset Services is the joint venture between the Divaris Group and KLNB. Kristina Townsend, director of strategic planning and development for the Divaris Group, leads the expansion program for this business initiative and serves as the account representative for KLNB Asset Services.
Christina Martin, director of property services for Edge, will continue her oversight of the former Edge team, but now working with the Divaris Group.
The joint venture also expands Divaris Property Management Corp.’s engineering and maintenance services to the Greater Washington Area, and adds five property management personnel, two property accountants and seven engineers to the team, under the direction of Divaris’ senior vice president of national property management services, Patty Kelly, along with the support of Divaris’ full-service Lease Administration and Property Accounting divisions headquartered in Virginia Beach.
About Divaris Real Estate
Divaris Real Estate, Inc. is headquartered in Virginia Beach, Va. with offices in Newport News, Norfolk, Richmond and Roanoke, Va.; Charlotte and Raleigh, N.C.; Beverly Hills, Calif.; and Washington, DC. Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, an international fully integrated real estate services, brokerage, and property management company that currently manages and/or leases over 37.3 million square feet of prime office, retail, and industrial space throughout the US. Gerald S. Divaris is Chairman of the Board and CEO, and Michael B. Divaris is President and Chief Operating Officer 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, tenants, and buyers in all aspects of leasing, development, management, sales and acquisitions.
Media Contact:
Janelle Burchfield
For Divaris Real Estate, Inc.
hello@JBdigital.media
757.439.0139