ADVANTIS HOLDINGS TO END AFFILIATION WITH GVA WORLDWIDE

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WASHINGTON, D.C. — Washington-based Advantis Holdings will sever its relationship with GVA Worldwide during the third quarter and will close its offices in Washington; Tallahassee and Panama City, Fla.; Gulfport, Miss.; and Northern Virginia and Newport News, Va. The closures are part of the company’s plan to reduce its brokerage operations.

“We’ve made the strategic decision to focus our energies and resources on supporting and improving the viable divisions of property management and construction,” says Chairman Jeffrey Neal in a statement.

Advantis Holdings’ will focus on its property management business. The company’s subsidiary, Advantis Construction Co., will also continue to operate, maintaining offices in Atlanta; Tampa, Fla.; Raleigh, N.C.; and Richmond and Norfolk, Va., will remain open.

“The current economic environment clearly favors focusing attention and resources on construction and the consultative and advisory parts of our business,” Tim Hague, the company’s former president, says in a statement. Hague will continue to serve Advantis Holdings in an advisory position.

— Jon Ross

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