Divaris Real Estate, Inc. (DRE), announced the completion of the following three transactions for new and renewed commercial space in North Carolina, totaling 12,421 square feet.

Sales Transaction

Shah Trust purchased a 7,786-square-foot, formerAdvanced Auto store located at 5335 Market Street in Wilmington, NC from Serdhi Realty, LLC for $1,270,000. DRE’s Charles Neil represented the buyer in the negotiations. Surrounding parcels include Costco, Surplus Warehouse and IHOP.

Lease Renewals

Divaris Property Management Corp renewed its lease for 2,535 square feet of office space in the Esplanade Building located at 2101 Rexford Road in Charlotte. Neil represented the tenant in the lease negotiations.

Planet Beach Tanning renewed its lease for 2,100 square feet of retail space in the Divaris-leased and -managed South Square located at 3415 Westgate Drive in Durham, NC. Neil and Diana Teitsma represented the landlord in the lease negotiations. Other tenants in South Square include: Firestone, Great Clips, Modern Nails, Office Depot, Petco, and Ross Dress for Less.

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, NC; Beverly Hills, CA; and Washington, DC. Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, an international real estate brokerage and property management company that currently manages and/or leases over 32 million square feet of prime office, retail and industrial space from New Jersey to Florida. Gerald S. Divaris is Chairman of the Board, and Michael B. Divaris is President of Divaris Real Estate, Inc.

Divaris Real Estate is a member of Realty Resources, (http://www.realtyresources.org/) 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, (http://www.corenetworkcre.org/) 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.