Divaris reorganizes management portfolio in Virginia

Published August 18, 2014 by Paula C. Squires

Divaris Real Estate Inc. and its property management subsidiary will lease and manage the newly constructed 4525 Main Street office tower at Town Center of Virginia Beach.

In addition to that news, the Virginia-Beach based company on Monday announced the relocation of two of its regional offices.

The Richmond office, currently located on East Main Street in the city’s Central Business District, will move a short distance away to the Williams Mullen building at 200 S. 10th St. Divaris’ Greater Washington, D.C., office will move to 8000 Westpark Drive in McLean.

“The relocation of Divaris’ Washington D.C.  regional office to McLean, Va., from Rockville, Md., was precipitated by our 2013 appointment as exclusive real estate consultants for the Commonwealth of Virginia,” Gerald Divaris, the company’s chairman and CEO said in a statement.

“As part of our reorganization strategy to better service our corporate office clients, we are hiring additional staff to manage and lease our new portfolio, “ Divaris said.

The state selected Divaris Real Estate to support its Department of General Services and its Division of Real Estate Services by providing transactional advisory assistance related to a wide portfolio of real estate.  Virginia has about 130 million square feet of leased and owned property.

The state’s portfolio consists of about 400,000 acres of land in more than 1,200 locations, 12,000 buildings and 117 million square feet of space.  Additionally, Virginia leases about 13 million square feet of rental space in 1,500 building locations.

If that doesn’t keep Divaris busy, there’s also plenty of activity at the Town Center of Virginia Beach. The center’s newest tenant, the architectural and engineering firm Clark Nexsen, is occupying three and a half floors of the new office tower, which the firm designed, for headquarters.

The top floor and three other floors in the new tower at 4525 Main Street provide the only remaining vacant office space available at the center.