Divaris Group acquires N.C. mixed-use leasing, advising firm

Virginia Beach-based Divaris Group has acquired North Carolina-based real estate planning, advisory and leasing firm The McGarey Group, the firm announced Friday.

Financial terms and other details of the acquisition were not disclosed.

The McGarey Group, led by President and CEO F. Denver McGarey, is now operating within Divaris Advisory, a division of Divaris Group. McGarey’s team will maintain its current roles, with its four employees transitioning to Divaris. McGarey Group has employees in Pinehurst, North Carolina, Ann Arbor, Michigan, and in San Diego.

“The McGarey Group has played a vital role in transforming numerous communities through landmark developments, spurring economic and social renewal,” Divaris Group Chair and CEO Gerald Divaris said in a statement. “Denver and his team have ambitious work ethic, unwavering commitment to integrity and an impressive track record of delivering exceptional results, enabling them to forge powerful strategic alliances across all areas of mixed-use development.”

Companies making up the Divaris Group include Divaris Real Estate Inc. and Divaris Property Management Corp. The McGarey acquisition expands Divaris Real Estate’s services throughout the mid-Atlantic and to Arizona, Michigan, California and beyond, Divaris said. The McGarey Group has worked on 65 projects involving 41 million square feet across 22 states as well as in China and Japan. McGarey Group provides comprehensive planning, advising and core leasing of mixed-use retail projects, including projects involving professional and college sports teams.

In a statement, McGarey called merging with Divaris “the most perfect fit.”

“This amalgamation of advisory, leasing, marketing, management, development and acclaimed transactional brokerage services gives our clients a tremendous advantage,” McGarey said. “Throughout this process, we had an unobstructed view to the sophistication of their verticality and, more importantly, to the remarkable character and integrity of the Divaris family and company.”

News of the acquisition comes less than two weeks after Divaris announced it had added 2.3 million square feet of new property management and engineering assignments following a joint venture with Washington, D.C.-based commercial real estate firm KLNB in which Divaris will manage property obtained by that company.

Founded in 1974 in South Africa and headquartered in Virginia since 1981, Divaris Group is an international real estate services, brokerage and property management company that manages and/or leases more than 37.3 million square feet of office, retail and industrial space throughout the nation. IDivaris Real Estate Inc. has offices Virginia Beach, Newport News, Norfolk, Richmond and Roanoke, as well as in Charlotte and Raleigh, North Carolina, Beverly Hills, California, and Washington, D.C.

Editor’s note: An earlier version of this story mistakenly stated the location of The McGarey Group. The company is based in North Carolina.