Gerald Divaris is Chairman and CEO of the Divaris Group, a vertically integrated commercial real estate enterprise. Co-founded Divaris Real Estate (DRE) in Cape Town, South Africa (1974), relocating to Virginia Beach (1981). DRE manages 40M+ sq ft across 15-16 U.S. cities. Visionary behind Town Center of Virginia Beach. Inducted into Hampton Roads Business Hall of Fame (2024).

1. Company Strategy and Structure

Primary Focus [3:25] CEO responsibilities center on exceeding client expectations, ensuring cohesive teamwork embodying company ethos, and platform growth.

National Operations [4:20] Maintains standards across 15-16 cities through personal CEO visits (monthly/bi-monthly) and "Principal in Charge" in each office embodying firm philosophy.

Employee Model [6:24] Unlike industry peers, DRE agents are salaried/on draw vs. independent contractors, ensuring clients receive controllable service rather than commission-driven behavior [7:50].

Vertical Integration [8:55] Retail deeply engrained from family retailer background. Development's longer lead time/higher risk suits stable employee model. Retail is "glue" in mixed-use developments, providing street-level vibrancy attracting office/residential tenants.

Realty Resources Network [12:09] Provides national platform of best-in-class local brokerages for seamless nationwide service. Smaller engaged networks led by "deal junkies" [17:23] outperform large publicly-traded firms with heavy infrastructure costs.

Management [19:32] "Overbalanced on corporate infrastructure" using salaried professional managers, freeing deal-makers to "lead by example."

1. Origins and Generalist Philosophy

African Origins [22:14] Born in Rhodesia (now Zimbabwe), moved business to Virginia Beach 1981. Smaller South African economy created "generalist" approach [24:22] across product types—essential for mixed-use development.

Retail Family Background [27:21] Greek merchant family from Cephalonia [28:44] owned department stores, liquor stores, groceries. Started working age 10 [30:01], learning customer assessment and merchandising strategy.

Art of Retail [32:45] Store deployment is art, not science. Placemaking engages all human senses—family's florist shops used tuberose scent near door [37:28] to pull customers inside. Experiential retail critical [42:23]—Barnes & Noble survived Amazon through "storytelling" and reading experiences.

III. Town Center of Virginia Beach

Opportunity [45:24] Virginia Beach: largest Virginia city by population but lacked CBD. Strong economy, tourism, minimal national broker competition. "Rough diamond" with suburban sprawl needing heart and soul.

Military Economy [50:40] Hampton Roads houses NATO headquarters, major cyber command, world's largest naval base. Demographics underreported 28% [59:41] due to "hidden economy"—young military retirees with full pensions, free medical, VA loans not counted in salary reports.

Mixed-Use Success [55:31] Town Center became city's "heart and soul," attracting institutions. Westin (40 stories) is Virginia's tallest structure—iconic landmark.

TIF Financing [1:21:10] Public entities own parking garages, Performing Arts Center, roads. Funded through TIF (Tax Increment Financing) above 1999 baseline. Changed city charter (1980s) to permit financing. Free parking key to walkability/density success.

1. Post-COVID Growth

50th Anniversary & Expansion [1:04:03] DRE celebrated 50 years (2024). Stayed open throughout COVID [1:04:31], viewing it as opportunity. Acquired McGarey Group (entertainment/sports development expertise) [1:08:15].

D.C. Market [1:09:05] Greater Washington expansion (May 2024) services Northern Virginia requi...