Seminole Trail Named 2023 Sale/Acquisition CoStar Impact Award Winner

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RICHMOND, VA, UNITED STATES, April 5, 2023/EINPresswire.com/ — Commonwealth Commercial Partners, LLC (CCP), a leading commercial real estate firm headquartered in Richmond, Va., was awarded the 2023 Sale/Acquisition CoStar Impact Award for their work on the Seminole Trail deal. Craige Pelouze, of CCP, brokered the sale. Winners—chosen for their growth, diversification, and ability to overcome unique challenges in their particular markets—were selected from a panel of more than 750 industry professionals drawn from each respective market.

In addition to brokering the sale with Seminole Trail Management, CCP will also handle the leasing services for the 11 properties located in three of Richmond’s premier submarkets: Innsbrook, Glenside/Broad, and Short Pump Town Center. CCP has also retained property management for the portfolio.

Featuring a variety of architectural styles, the Class A office buildings in Henrico County total approximately 726,000 square feet in locations that are home to more than 100 tenants that range from small family offices to Fortune 500 companies. Large notable tenants include Northwestern Mutual, Scott Insurance, Patient First, and Suez North America.

“This is an important assignment for us and we look forward to enhancing our partnership with Seminole Trail,” said Mark Claud, CEO of Commonwealth Commercial. “We are fortunate to have this longstanding relationship with them through our property management team and are excited to have the opportunity for our leasing team to reposition these premier assets in the marketplace.”

CCP’s leasing team for this portfolio of properties includes Senior Vice President and Partner, Russell Wyatt, First Vice President, Eric Hammond and Senior Associate, Eliza Izard. To learn more about the CoStar Impact Awards and review the full list of winners, visit www.costarimpactawards.com/.

2023 Costar Impact Awards

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Commonwealth Commercial Manages Massive Land Sale to DHL

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Richmond, Va. – Commonwealth Commercial Partners (CCP), an industry leader in commercial real estate, recently played an instrumental role in boosting economic development and creating job opportunities in Stafford County, Va. The company negotiated and executed the sale of 55 acres from R Income Properties, LLC to DHL Logistics for $4,055,000 in Stafford County’s Venture Business Park.

DHL has announced plans to build a 500,000 square foot high-bay distribution facility with highly mechanized equipment for material building to serve the Mid-Atlantic region. The initiative is expected to create close to 600 jobs requiring managerial and high-tech skills that will generate $1 million per year in tax revenue.

“This was a very complex commercial real estate transaction involving multiple partners, including state and government entities, in Virginia and Maryland,” said Craig Pelouze, Senior Vice President at Commonwealth Commercial. “It’s a deal that is destined to transform the area’s economy and attract a large tax base to Stafford County.”

He noted that Matan Properties, an industrial developer in Frederick, Md., is also under contract with CCP to purchase the remaining 31 acres in Venture Business Park to develop several hundred thousand square feet of office warehouse, resulting in total land sales of almost $9.5 million.

Pelouze and Sam Worley, another Senior Vice President at CCP, represented R Income Properties, which had owned the land for over 20 years. These talented team members have many years of experience representing buyers and sellers of rural land and investment properties.

For more information about Commonwealth Commercial Partners, LLC, which is proudly celebrating its 25th anniversary in 2021, 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, Tenn.; Jacksonville, Fla.; Tampa, Fla.; Charlotte, N.C.; Raleigh/Durham, N.C.; Greenville, S.C.; Houston, Texas; Kansas City, Mo.; St. Louis, Mo.; Columbus, Ohio; and Minneapolis, Minn., and is active in Connecticut and Illinois. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services. To learn more, visit www.commonwealthcommercial.com

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DHL Supply Chain to create 577 jobs in Stafford County

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Posted on 12/15/2020 by Richard Foster at Virginia Business

Contract logistics company will invest $72M in facility at Venture Business Park

DHL Supply Chain, a contract logistics company with its North American headquarters in Ohio, is investing $72 million to establish a mid-Atlantic distribution center in Stafford County’s Venture Business Park, creating 577 jobs, Gov. Ralph Northam announced Tuesday.

The company will build a 500,000-square-foot high-bay facility for its Real Estate Solutions unit. Virginia competed with Maryland to land the project.

“This significant investment and the addition of 577 new jobs come at a critical time when we are focused on rebuilding our economy and getting Virginians back to work,” Northam said in a statement. “The ongoing pandemic has underscored the value of supply chain management and delivery services during times of crisis. With our central East Coast location and advanced transportation infrastructure, our commonwealth offers unparalleled advantages for businesses, and we are proud to support the company’s new high-tech operation in Stafford Country.”

A subsidiary of parent company Deutsche Post DHL Group, a German publicly traded company with more than $76 billion in revenue in 2019, DHL Supply Chain employs approximately 36,000 people in the United States. The company offers a portfolio of industrial supply chain management, warehousing, transportation and value-added logistics services. The company’s Real Estate Solutions unit develops turnkey warehousing solutions for customers.

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Commonwealth Commercial Completed Eight Transactions this Week

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Richmond, VA – August 28, 2020 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • VenGott, LC leased 2,782 SF at 1100 Boulders Parkway in Chesterfield County.  Russell Wyatt, Jamie Galanti and Eliza Izard represented the Landlord.
  • Kraft Heinz Foods Group leased 5,567 SF at 16021 and 16023 Continental Boulevard in Chesterfield County.  Ben Bruni and Colton Konvicka represented the Landlord.
  • Invested Transition, LLC leased 3,300 SF at 4204-A Eubank Road in Henrico County.  Tucker Warren represented the Tenant.
  • N&B Ventures, LLC leased 2,000 SF at 135 Hill Carter Parkway in Hanover County.  Morgan Trible represented the Landlord.
  • CWR Property, LLC purchased 23.41 acres at 1600 Ashton Park Drive, Ashton Creek Business Center in Chesterfield County from Carrie E. Coyner, Successor Trustee for $750,000.  Colton Konvicka and David Williams represented the Seller.
  • Austin Woods Apartments, LLC purchased 13 acres at 6767 Iron Bridge Road in Chesterfield County from Austin Woods Development Co. for $4,025,000.  Sam Worley, Craige Pelouze and Ryan Fanelli represented the Seller.
  • Kilmarnock Tobacco & Vape, LLC leased 1,600 SF at 130 Old Fair Grounds Way in Lancaster County.  Morgan Trible represented the Landlord.
  • Quik Fuel, Inc. purchased 1.52 acres on Market Drive in Emporia, VA from Chambliss Properties, LLC for $500,000.  Ryan Fanelli and Hank Campbell 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.

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Apartments developer buys 13 acres in Chesterfield for $4M+

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Posted on 8/24/2020 by Sydney Lake at Virginia Business

An apartment complex developer has purchased a 13-acre site in Chesterfield County for $4.025 million, Commonwealth Commercial Partners LLC announced Friday.

Located at 6767 Iron Bridge Road, the complex will include 230 apartment units, a clubhouse and a pool. Austin Woods Development Co. sold the property to Waverton Development Inc. in a transaction that closed on Aug. 20.

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230-Unit Apartment Complex Slated For 6767 Iron Bridge Road

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Richmond, VA – Commonwealth Commercial Partners, LLC is pleased to have facilitated the 13± acre sale at 6767 Iron Bridge Road located in Chesterfield County, VA. Sam Worley, Ryan Fanelli & Craige Pelouze of Commonwealth Commercial represented the Seller, Austin Woods Development Co. The purchaser was Waverton Development Inc. This transaction closed on August 20, 2020 for $4,025,000.

Commonwealth Commercial placed the property under contract in March 2019, and the seller obtained zoning so the buyer could construct 230 apartment units, a clubhouse with pool and related accessory uses. Financing for the development was obtained through VHDA with Keith Wells at Northmarq Capital acting as the mortgage broker. Construction has begun and preleasing will begin early 2021, with first move-ins in the second quarter of 2021.

This same buyer purchased land in Watermark, across the street from this site in 2010. They developed the Meridian at Watermark, a 300-unit Class A investment community. The Austin Woods site will be a continuation of their success at Watermark.

This apartment complex at 6767 Iron Bridge Rd will be complemented by the 207-unit townhome community that will be built by Ryan Homes on the 58± acres surrounding the property. Additionally, there is a 4.5± acre commercial out parcel available that fronts Iron Bridge Road.

 

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, Charleston SC, Kansas City MO, St. Louis MO, Minneapolis MN, Columbus OH, and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

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Better Med Urgent Care property in Ashland sells for $2.1 million

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Posted on 3/12/2018 by Virginia Business

A building fully leased by Better Med Urgent Care in Ashland has sold for $2.1 million.

According to Commonwealth Commercial Partners in Henrico County, which announced the sale, the investment property is located at 300 N. Washington Highway. The one-story, 5,200-square-foot building was built a year ago.

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Commonwealth Commercial Completed Five Transactions This Week

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Richmond, VA – March 9, 2018 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Andrew Brumberg leased 815 SF at 8503 Patterson Avenue, Henrico County.  Evan Ocheltree represented the Landlord.
  • Blueswipe, LLC leased 6,460 SF at 1501 Roseneath Road in City of Richmond.  Fred Plaisted represented the Tenant.
  • Capital Square Acquisitions LLC purchased a 5,100 SF office/medical building at 300 N. Washington Highway in Hanover County for $2,100,000.  Craige Pelouze represented the Purchaser.
  • Genova’s Pizza Express, LLC purchased a 3,420 SF building at 2723 Buford Road in Chesterfield County for $265,000.  Morgan Trible represented the Purchaser.
  • Earl Thompson, Inc. purchased 122 acres at 3040 Sandy Hook Road in Goochland County for $1,075,000.  Joe Buhrman and Randy Cosby 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, Greensboro NC, Charlotte NC, Raleigh/Durham NC, Greenville SC, Reading PA and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

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