COMMONWEALTH COMMERCIAL CLOSES SALE OF TWO GROUPS OF MULTI-FAMILY PROPERTIES IN RICHMOND’S FAN DISTRICT

Written by

Posted on 12/14/2021 – Commonwealth commercial closes sale of Two Groups of multi-family properties in Richmond’s Fan District

Richmond, VA. – Commonwealth Commercial Partners, LLC (CCP), a leading commercial real estate firm headquartered in Richmond, VA., recently brokered the sale of two groups of multifamily properties at 1612-1628 and 1816-1822 W. Cary Street in Richmond’s Fan District. CCP represented the seller, Eck Enterprises, LLC, and One South Commercial represented the purchasers, 4 South LLC.

Kit Tyler, Senior Vice President at CCP, and Tucker “Nash” Warren, Senior Associate at CCP, negotiated the multi-family properties’ sale that closed on December 9th for a price of $3.6 million. The two groups properties consist of nine townhouses, and six apartments. The buildings were part of the Uptown Portfolio, a large assemblage of real estate holdings owned and developed by Eck Enterprises, LLC.

“It has been an honor representing Eck on the sale of the Uptown Portfolio.” says Nash Warren. “Not only are these properties in great condition, thanks to Eck’s incredible maintenance team, but they are also unique in their style, age, layout, history, etc. As a result, each of these deals has been an engaging process for everyone involved on both sides.”

The Uptown Portfolio consists of more than 100 retail, restaurant, office, and multifamily properties concentrated within a 10-block area along West Main and West Cary Streets, just west of the VCU Monroe Park Campus. CCP manages the listing for all the properties in the Uptown Portfolio.

News regarding the sale of other properties within the Uptown Portfolio will be shared after the closing date of the transactions. For more information about Commonwealth Commercial Partners, LLC, visit commonwealthcommercial.com.

About Commonwealth Commercial Partners, LLC

Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Columbus OH, Kansas City MO, St. Louis MO, Minneapolis MN and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Share this:

COMMONWEALTH COMMERCIAL CLOSES SALE OF 9 TOWNHOMES AND 3 GRASS LOTS IN RICHMOND’S FAN DISTRICT

Written by

Posted on 12/13/2021 – Commonwealth Commercial closes sale of 9 Townhomes and 3 grass lots in Richmond’s Fan District

Richmond, Va. – Commonwealth Commercial Partners, LLC (CCP), a leading commercial real estate firm headquartered in Richmond, VA., recently brokered the sale of 9 townhomes and 3 grass lots at 1805-1827 W. Cary Street in Richmond’s Fan District. CCP represented the seller, Eck Enterprises, LLC, and One South Commercial represented the buyer, OSC Development LLC.

Kit Tyler, Senior Vice President at CCP, and Tucker “Nash” Warren, Senior Associate at CCP, negotiated the sale that closed on December 10th for a price of $2.85 million. Each of the 9 townhomes, approximately 1,500 SF average each, consist of the 3 bedrooms and 3 bathrooms, include off-street parking, and are fully leased. The properties were part of the Uptown Portfolio, a large assemblage of real estate holdings owned and developed by Eck Enterprises, LLC.

“I think this group of properties is a great example of Eck’s outstanding care and upkeep of their properties.” says Nash Warren. “It might sound a bit silly, but Eck made sure that their sidewalks were even and smooth and their grass lots were green and maintained. I’m confident that those who are familiar with The Fan would agree that neither of these things are common in this area.”

The Uptown Portfolio consists of more than 100 retail, restaurant, office and multifamily properties concentrated within a 10-block area along West Main and West Cary Streets, just west of the VCU Monroe Park Campus. CCP manages the listing for all the properties in the Uptown Portfolio.

News regarding the sale of other properties within the Uptown Portfolio will be shared after the closing date of the transactions. For more information about Commonwealth Commercial Partners, LLC, visit commonwealthcommercial.com.

About Commonwealth Commercial Partners, LLC

Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Columbus OH, Kansas City MO, St. Louis MO, Minneapolis MN and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Share this:

Commonwealth Commercial Completed Seven Transactions this Week

Written by

Richmond, VA – December 10, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Dr. Kim Byerly renewed the 995 SF lease at 5101 Cleveland Street in Virginia Beach. Gresh Wall represented the Landlord.
  • JTWdesign, LLC leased 2,020 SF at 15 S. Auburn Avenue in the City of Richmond. Tucker Dowdy and Russell Wyatt represented the Landlord.
  • Consolidated Planning, Inc. leased 732 SF at 12540 Patterson Avenue in Goochland County. Tucker Dowdy and Russell Wyatt represented the Tenant.
  • Brick and Mortar Mercantile leased 5,142 SF at 3114 W. Cary Street in the City of Richmond. Jim McVey, Michael Morris and Thomas Lynde represented the Landlord.
  • DAPSYN Inc. leased 1,809 SF at 1503 Santa Rosa Road in Henrico County. Eric Hammond represented the Landlord.
  • Ericka J Fitness leased 2,500 SF at 903 E. Laburnum Avenue in Henrico County. Jamie Galanti and Ben Boykin represented the Tenant.
  • ME Namflow, LLC purchased 8,973 SF at 5780 Hull Street Road in the City of Richmond from Parsons & May, LLC for $700,000. Ben Bruni represented the Purchaser.

 

 

About Commonwealth Commercial Partners, LLC

Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Columbus OH, Kansas City MO, Minneapolis MN and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Share this:

Commonwealth Commercial Completed Eight Transactions this Week

Written by

Richmond, VA – December 3, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • InMotion Physical Therapy, LLC leased 4,347 SF at 3001 Hungary Spring Road in Henrico County.  Eric Hammond and Chip Louthan represented the Tenant.
  • Mosaic Group, LLC dba Mosaic Pediatric Therapy leased 4,087 SF at 5153 Craig Rath Boulevard in Chesterfield County.  Jamie Galanti and Eliza Izard represented the Tenant.
  • Carova Holding Company, Inc. leased 1,297 SF at 2101 Parks Avenue in Virginia Beach.  Gresh Wall represented the Landlord.
  • Ogburn Brothers, Inc. leased 28,000 SF at 10987 Richardson Road in Hanover County.  Chip Louthan and Michael Mayhew represented the Tenant.
  • Richmond Pediatric Dentistry and Orthodontics renewed its 2,938 SF lease at 8503 Patterson Avenue in Henrico County.  Eliza Izard and Russell Wyatt represented the Landlord.
  • Nettles Storage, LLC purchased 3.5 acres of land at 12994 Nettles Drive in Newport News from Nettles Associates, LLC for $650,000.  Ryan Fanelli and Nate Krey represented the Seller.
  • Virginia Electric and Power Company purchased 11.8 acres at 212 Dry Bridge Road in Chesterfield County from Watkins Land, LLC for $530,000.  Bill Barnett, Joe Buhrman and Chris Jenkins represented the Seller.
  • Bellwood Crossing LLC purchased 3.5 acres at 8009, 8011, 8031, 8045 and 8075 Jefferson Davis Highway in the City of Richmond from The Diamond Group, LLC for $1,350,000.  Chris Jenkins, Randy Cosby and Michael Good represented the Purchaser and Ben Bruni represents the Seller.

About Commonwealth Commercial Partners, LLC

Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Columbus OH, Kansas City MO, Minneapolis MN and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Share this:

Commonwealth Commercial’s November Personnel News

Written by

Richmond, VA – December 1, 2021 – Commonwealth Commercial Partners, LLC is pleased to report new hires and promotions during the month of November.

  • DCP New Hire – Darryl Sims                                                                                                                                    DCP is excited to welcome Darryl Sims as our newest Assistant Superintendent.
  • DCP New Hire – Jason Broussard                                                                                                                          Bringing 23 years of construction experience throughout the Richmond region, Jason Broussard joins DCP as our newest Project Manager.
  • CCP Promotion – Jenna Herring                                                                                                                        Jenna Herring joined CCP TN in 2013 and has been an extremely valuable team member.
  • CCP Promotion – Samantha Snyder                                                                                                              Samantha Snyder joined CCP in 2020 and has been instrumental in the management of our Columbus Ohio office.
  • CLM Promotion – Sam Parry                                                                                                                                   We are very excited to announce that Sam Parry, Director of Rooms at the Norfolk Marriott Waterside, has been promoted to the General Manager of the Richmond Marriott Short Pump.
  • DCP Promotion – Steph Hixon                                                                                                                                 We are excited to announce that Steph Hixon has been promoted to Director of Preconstruction.

 

Share this:

Commonwealth Commercial Completed Eleven Transactions this Week

Written by

Richmond, VA – November 19, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Featherstone Partners, LLC leased 2,722 SF at 1321 Laskin Road in Virginia Beach.  Gresh Wall represented the Tenant.
  • Smith & Nephew Inc. renewed 1,848 SF at 413 Stuart Circle in the City of Richmond.  Eric Hammond and Michael Good represented the Landlord.
  • MRC Global (US) Inc. leased 40,000 SF at 8310 Shell Road in Chesterfield County.  David Williams and Ben Bruni represented the Landlord.
  • Upside to Youth Development LLC leased 3,375 SF at 9401 Courthouse Road in Chesterfield County.  Tucker Dowdy and Jamie Galanti represented the Landlord.
  • Sunshine Anderson leased 1,250 SF at 1390 Broad Street in Goochland County.  Ben Bruni and Carl Blackwell represented the Landlord.
  • Carpenter Co. leased 3,211 SF at 5020 Monument Avenue in Henrico County.  Erc Hammond and Tucker Dowdy represented the Landlord.
  • Hanover Habitat for Humanity leased 13,032 SF at 7193, 7199 and 7211 Stonewall Parkway in Hanover County.  Eric Hammond represented the Tenant.
  • Code 1 Training Soutions, LLC leased 184 SF at 413 Stuart Circle in the City of Richmond.  Eric Hammond and Michael Good represented the Landlord.
  • Parkway Acquisitions purchased .7154 acres at 101 W. Grace St., 115 N. Foushee St. , 3 and 9 E. Grace St. in the City of Richmond from Jim’s Family Corp. for $2,875,000.  Michael Morris and Jim McVey represented the Purchaser.
  • Marwaha Sarup Singh, LLC purchased 38,000 SF at 2500 & 2505 Pocoshock Place in Chesterfield County from Sanadeema LLC for $2,400,000.  Tucker Dowdy represented the Seller.
  • Hanover Habitat for Humanity leased 13,032 SF at 7193, 7199 and 7211 Stonewall Parkway in Hanover County.  Eric Hammond represented the Tenant.

About Commonwealth Commercial Partners, LLC

Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Columbus OH, Kansas City MO, Minneapolis MN and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Share this:

Breeden pays $3M for Cobb Lumber site for $53M mixed-use project

Written by

Posted on 11/18/2021 by Jonathan Spiers at Richmond BizSense

A pair of recent land deals are setting the stage for a mixed-use development of a longtime industrial site along Hermitage Road.

An entity tied to The Breeden Co. closed this month on its purchase of the Cobb Lumber site at 2300 Hermitage Road, where the Virginia Beach-based developer is planning a new-construction project that would include a new headquarters for its Richmond-based construction arm, Breeden Construction.

The entity, Duplex Station LLC, paid $3.2 million for the nearly 2-acre property in a deal that closed Nov. 8. City property records show the site was most recently assessed at $1.42 million.

The seller was Foundry Associates, an entity owned by Steven Clifton and Garland Clay. Clifton is president of Cobb Lumber, which has operated there since 1990. Records show that they paid $260,000 for the property, which is on the west side of Hermitage between the railroad tracks and the Richmond Ambulance Authority property.

Breeden also is buying a sliver of RAA’s property at 2400 Hermitage Road for the project. Last month, the Richmond City Council approved a surplus designation and TOD-1 zoning for the 0.17-acre portion, which the city agreed to sell to affiliate Breeden Investment Properties for $110,250.

Duplex Station LLC is a reference to Breeden’s project, named “Duplex Station on Hermitage.” The six-story building, which would replace the property’s existing structures and fill the entire triangular-shaped site, is planned for 142 apartments and 24,000 square feet of commercial space that would house Breeden Construction.

Continue reading the full article

Share this:

Philly firm snaps up more parking lots in $2.9M Monroe Ward deal

Written by

Posted on 11/16/2021 by Michael Schwartz at Richmond BizSense

Parkway Corp. can’t seem to get enough downtown parking lots.

The Philadelphia-based parking and real estate development firm last week snatched up another set of parcels in Richmond, this time two surface lots in Monroe Ward.

The company paid $2.87 million for a half-acre made up of adjoining parcels at 115 N. Foushee St., 3 E. Grace St. and 9 E. Grace St., as well as the nearby lot at 101 W. Grace St., which is less than a quarter-acre.

The seller was longtime Richmond-based Jim’s Family Parking. The parcels were most recently assessed at a combined $1.2 million.

It’s the latest local deal for Parkway, which since 2016 has spent more than $7 million on lots in Jackson Ward and Monroe Ward.

In 2016 it paid $2 million for a 0.75-acre surface parking lot at 200 E. Marshall St., where it has since partnered with locally-based SNP Properties to propose a 12-story mixed-use building. That project is still in the planning stages.

In 2019, its paid $2.3 million for a nearly 1-acre assemblage bordered by East Marshall, North 2nd and East Clay streets in Jackson Ward.

Continue reading the full article

Share this:

Commonwealth Commercial Completed Eight Transactions this Week

Written by

Richmond, VA – November 12, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Brandi Walker leased 2,910 SF at 131 Richmond Highway in the City of Richmond. Ben Bruni represented the Landlord.
  • Moser Originals, LLC leased 3,410 SF at 6290 Old Warwick Road in the City of Richmond. Colton Konvicka and Ryan Fanelli represented the Landlord.
  • Belle Cabana leased 2,250 SF at 1260 Alverser Plaza in Chesterfield County. Ben Boykin and Ryan Fanelli represented the Tenant.
  • IvyRehab Mechanicsville VA, LLC dba Spectrum Physical Therapy leased 6,024 SF at 7225 Bell Creek Road in Hanover County. Morgan Trible and Jim McVey represented the Landlord.
  • Classic Air Care, LLC leased 24,349 SF at 240 Clearfield Avenue in Virginia Beach. Gresh Wall represented the Landlord.
  • DCCC, Inc. leased 3,300 SF at 2301 N. Parham Road in Henrico County. Eric Hammond and Tucker Dowdy represented the Landlord.
  • Vanderbilt Properties, LLC purchased .05 acres at 127 N. 18th Street in the City of Richmond from Rochelle Holding Company for $150,000. Jim McVey, Michael Morris and Thomas Lynde represented the Seller.
  • Duplex Station, LLC purchased 30,000 SF at 2300 Hermitage Road in the City of Richmond from Foundry Associates for $3,200,000. Ben Bruni and Ryan Fanelli represented the Purchaser.

About Commonwealth Commercial Partners, LLC

Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Columbus OH, Kansas City MO, Minneapolis MN and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Share this:

Commonwealth Commercial Completed Six Transactions this Week

Written by

Richmond, VA – November 5, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Virginia Insurance Services, Inc. leased 1,900 SF at 1 Park West Circle in Chesterfield County.  Tucker Dowdy and Jamie Galanti represented the Landlord.
  • Kala Brand Music Co. leased 29,342 SF at 11223 Leadbetter Road in Hanover County.  David Williams represented the Landlord.
  • EDOS LLC leased 775 SF at 5300 Hickory Park Drive in Henrico County.  Eric Hammond and Michael Good represented the Landlord.
  • JSC of Richmond, LLC dba Mr. Sandless of Richmond leased 854 SF at 7921 W. Broad Street in Henrico County.  Ben Bruni represented the Tenant.
  • Brandi Walker leased 2,910 SF at 131 Richmond Highway in the City of Richmond.  Ben Bruni represented the Landlord.
  • CRDR Management LLC purchased 2.74 acres at 710 Watkins Centre Parkway in Chesterfield County for $400,000 from Watkins Land LLC.  Chris Jenkins, Joe Buhrman and Bill Barnett represented the Seller.

About Commonwealth Commercial Partners, LLC

Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Columbus OH, Kansas City MO, Minneapolis MN and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Share this: