The state has enlisted Divaris Real Estate to handle its portfolio of more than 400,000 acres of land and 117 million square feet of space. (Photos by Burl Rolett)
A Virginia Beach-based real estate firm has scored a major contract with the Commonwealth.
Virginia’s Department of General Services enlisted Divaris Real Estate in December to handle property and lease acquisition, rental and dispositions of the state’s portfolio of more than 400,000 acres of land and 117 million square feet of space.
The Bank Street entrance of the Washington Building.
“The potential for this client is for it to be one of our largest clients,” Divaris chief executive Sandy Cohen said. “We’ll see as we get further and further into the contract how significant it becomes.”
Divaris has a three-year contract with the state that began last month. CBRE held the account for the previous 10 years and is continuing to take care of a bundle of projects that are under contract.
“We will let those transactions run their course,” director of Virginia’s Division of Real Estate Services Holly Law Eve said. “It could take throughout the year to close out some of those matters, but all the new deals going forward will be within the Divaris portfolio.”
The state sent out a request for proposals for its real estate contract in spring 2013 and evaluated the bids it received on a decision matrix – a sort of score sheet that evaluated each firm’s proposal on a number of criteria.
Cohen said Divaris’s previous work with city governments and other public entities across Virginia made the firm well suited to take on the state’s portfolio. John Wingfield, based in the Divaris Richmond office, will be the portfolio’s account manager.
The state has enlisted Divaris Real Estate to handle its portfolio of more than 400,000 acres of land and 117 million square feet of space. (Photos by Burl Rolett)
A Virginia Beach-based real estate firm has scored a major contract with the Commonwealth.
Virginia’s Department of General Services enlisted Divaris Real Estate in December to handle property and lease acquisition, rental and dispositions of the state’s portfolio of more than 400,000 acres of land and 117 million square feet of space.
The Bank Street entrance of the Washington Building.
“The potential for this client is for it to be one of our largest clients,” Divaris chief executive Sandy Cohen said. “We’ll see as we get further and further into the contract how significant it becomes.”
Divaris has a three-year contract with the state that began last month. CBRE held the account for the previous 10 years and is continuing to take care of a bundle of projects that are under contract.
“We will let those transactions run their course,” director of Virginia’s Division of Real Estate Services Holly Law Eve said. “It could take throughout the year to close out some of those matters, but all the new deals going forward will be within the Divaris portfolio.”
The state sent out a request for proposals for its real estate contract in spring 2013 and evaluated the bids it received on a decision matrix – a sort of score sheet that evaluated each firm’s proposal on a number of criteria.
Cohen said Divaris’s previous work with city governments and other public entities across Virginia made the firm well suited to take on the state’s portfolio. John Wingfield, based in the Divaris Richmond office, will be the portfolio’s account manager.