State selects Divaris Real Estate to provide real estate consulting services.
- January 22, 2014
Divaris Real Estate Inc. has been selected to support the state with transactional advisory assistance related to its 130 million-square-foot portfolio of leased and owned properties.
The Virginia Beach-based firm, lead by Gerald S. Divaris, will support the Department of General Services (DGS) and its Division of Real Estate Services (DRES) by providing assistance in transaction management, project management, brokerage, leasing and strategic planning.
The Commonwealth’s portfolio consists of about 400,000 acres of land in more than 1,200 locations, 11,000 buildings and 117 million square feet of space. Additionally, Virginia leases about 10 million square feet of rental space in 1,400 building locations.
Divaris will primarily assist state agencies in finding space in buildings not owned by the state, with its fees paid for by the landlords that own the buildings.
… We look forward to this new partnership with Divaris as change will bring a new approach to further refine the real estate services we offer to state agencies, Holly Law Eve, DRES’s director said in a statement.”
“We’re excited to serve the Commonwealth of Virginia with its on-going real estate needs,” said John Wingfield, principal of Divaris’ Richmond office and account manager on the assignment.
“This is a terrific opportunity to partner with the Commonwealth of Virginia in its portfolio and workplace optimization efforts and to build upon our track record of results for private and public sector occupier clients,” said Sanford M. Cohen, chief operating officer of Divaris Real Estate Inc. “… We currently work with a half dozen political subdivisions across the Commonwealth. It is a major focus of ours and we have a demonstrated track record of success in partnering with them,” said Cohen.
Divaris Real Estate, Inc. an international real estate brokerage and property management company, currently manages and leases more than 30 million square feet of office, retail and industrial space from New Jersey to Florida.