Divaris Real Estate Acquires The McGarey Group – What is a Ground Lease?

, Divaris Real Estate Acquires The McGarey Group – What is a Ground Lease?, Robert Khodadadian

Gerald Divaris (left), chairman & CEO of The Divaris Group, and Denver McGarey, president & CEO of The McGarey Group. Image courtesy of the The Divaris Group and The McGarey Group

Divaris Real Estate has absorbed The McGarey Group as part of a merger, the companies announced.

McGarey Group, a mixed-use retail development, leasing and advisory services firm, will operate as a division of Divaris Real Estate. The McGarey team will stay in place and continue in their roles under the new leadership.

Since its founding over 30 years ago, McGarey Group has been involved in various projects across sectors, including professional sports, transportation and mixed-use developments. The firm has worked on 65 projects totaling 41 million square feet across 22 U.S. states, China and Japan on behalf of 37 private development clients and 33 institutional investors, according to a joint statement from the companies.

Divaris Real Estate, which is headquartered in Virginia Beach, Va., has offices throughout the state in the municipalities of Newport News, Va., Norfolk, Va., Richmond, Va., and Roanoke, Va., as well as in Charlotte, N.C. and Raleigh, N.C., Beverly Hills, Calif., and Washington, D.C. The real estate platform is, alongside Divaris Property Management Corp., a division of The Divaris Group, which manages and leases more than 37.3 million square feet of industrial, office and retail space throughout the U.S.

The post Divaris Real Estate Acquires The McGarey Group appeared first on Commercial Property Executive.

 Brokerage, Investment, Mid-Atlantic, News, Richmond, Divaris Real Estate Inc., The McGarey Group 

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