$80 million mixed-use apartment project planned near Scott’s Addition; Buz and Ned’s would have to move

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Posted on 7/12/2021 by Colbi Edmonds at Richmond Times-Dispatch

A 300-unit apartment complex along with retail space is planned for North Arthur Ashe Boulevard on land where Buz and Ned’s Real Barbecue and other businesses are now.

Level 2 Development and SJG Properties, two development companies based in Washington, have acquired five parcels totaling 3.3 acres for the planned $80 million mixed-use project, the companies announced Monday.

The project would be one of the largest apartment complexes in the Scott’s Addition area.

“Even though we’re Washington developers … we love Richmond, Virginia,” said David Franco, principal and co-founder of Level 2 Development. “We’re very familiar; we’re very excited. There’s a lot of growth opportunity in Richmond. We’ve seen businesses coming to Richmond and population growth in the area. So we’re really excited about the prospect of working in Richmond.”

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Commonwealth Commercial Completed Eight Transactions this Week

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Richmond, VA – July 16, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • AgMKTG, LLC leased 3,635 SF at 3007 W. Clay Street in the City of Richmond.  Ben Bruni and Russell Wyatt represented the Landlord.
  • NDL, Inc. dba Lighting Environments leased 4,251 SF at 3416-3424 W. Clay Street in the City of Richmond.  Ben Bruni represented the Tenant.
  • JD Quality Pouches, LLC leased 5,000 SF at 2050 Val Park Drive in Goochland County.  Tucker Warren represented the Tenant and Ben Bruni and Michael Good represented the Landlord.
  • C&R Consulting LLC leased 995 SF at 5300 Hickory Park Drive in Henrico County.  Eric Hammond and Michael Good represented the Landlord.
  • Hung T. Boi leased 184 SF at 413-421 Stuart Circle in the City of Richmond.  Eric Hammond and Michael Good represented the Landlord.
  • Hicks Properties LLC leased 125 SF at 413-421 Stuart Circle in the City of Richmond.  Eric Hammond and Michael Good represented the Landlord.
  • Your Path Counseling Center, LLC leased 2,080 SF at 9410 Atlee Commerce Boulevard in Hanover County.  Eric Hammond represented the Landlord.
  • 410 Pine Street, LLC purchased 13,060 SF at 207 W. Franklin Street in the City of Richmond from Brooks Franklin Street Limited Partnership for $1,030,000.  Jim McVey, John Thompson and Eliza Izard 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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Developers pay $12.5M for Lacy’s 3.3-acre tract on Arthur Ashe Blvd.

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Posted on 7/14/2021 by Mike Platania at Richmond BizSense

A new high mark has been set for land on a per-acre basis in the Scott’s Addition area.

The 3.3-acre assemblage at 1117-1209 N. Arthur Ashe Blvd. sold earlier this week for $12.5 million, city records show.

The buying entities are tied to D.C.-based Level 2 Development and SJG Properties, who are planning a major mixed-use project for the site. The seller in the deal was local investor Ed Lacy, who’d owned many of the parcels for decades.

At about $3.8 million per acre, the deal marks the highest sales price on a per-acre basis in the neighborhood in recent memory.

The previous high mark for the land in and around Scott’s Addition was $3.6 million per acre, set last year by South Carolina’s Greystar when it bought a whole city block at 1601 Roseneath Road. It paid $8.6 million for the site, where it’s planning a 350-unit mixed-use project with locally-based Capital Square.

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Beehives on downtown office buildings sweet for corporate teambuilding

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Posted on 7/6/2021 by Noah Daboul at Richmond BizSense

Downtown office buildings have been far quieter than normal over the last 18 months. But since November, the SunTrust Center has remained abuzz with worker bees of a different sort.

Raleigh-based Bee Downtown, which installs and maintains beehives on corporate campuses, expanded into Richmond from North Carolina with its first hives in Virginia atop the 26-story building at 919 E. Main St.

Bee Downtown CEO Leigh-Kathryn Bonner said the result is two hives containing about 30,000 bees each, aimed in part at helping Mother Nature and in part at corporate teambuilding.

“While we are putting the hives on the campuses — and it is very much a sustainability initiative — what we do throughout the year is we have employees going through interactive experiences,” said Bonner.

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Commonwealth Commercial Completed Two Transactions this Week

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Richmond, VA – July 9, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Oh Yeah Inc. d/b/a/ Bell Café leased 2,730 SF at 8319 Bell Creek Road in Hanover County.  Morgan Trible and Michael Morris represented the Landlord.
  • Stratford Professional Offices, LLC purchased an 8,030 SF office building at 6740 Forest Hill Avenue from Stratford Professional Bldg Inc. for $815,000.  Ben Bruni represented the Purchaser and Eric Hammond and Tucker Dowdy 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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Commonwealth Commercial Completed Four Transactions this Week

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Richmond, VA – July 2, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Amurcon Realty Company leased 6,170 SF at 919 E. Main Street in the City of Richmond.  Jamie Galanti, Russell Wyatt and Eliza Izard represented the Landlord.
  • Counts, LTD dba Counts Hallmark Shop #17 leased 4,440 SF at 7225 Bell Creek Road in Hanover County.  Morgan Trible and Jim McVey represented the Landlord.
  • 1600 West Broad Street, LLC leased 1,620 SF at 1127 W. Main Street in the City of Richmond.  Tucker “Nash” Warren and Kit Tyler represented the Landlord.
  • Connor’s Heroes Foundation subleased 1,489 SF at 1840 W. Broad Street in the City of Richmond.  Tucker Dowdy and Russell Wyatt represented the Sublandlord.

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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Mechanicsville coffee house owners brewing up something sweeter

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Posted on 6/14/2021 by Jack Jacobs at Richmond BizSense

The operators of a Mechanicsville coffee shop have something sweet in store a couple doors down.

Brothers Micah and Jett Odle are opening Graham’s Ice Cream at 7038 Mechanicsville Turnpike, near Mechanicsville High School, in late July.

It will be two storefronts over from their Little Bean Coffee Co., which they opened in 2019 after selling coffee out of a cart for a year at Bon Secours’ Memorial Regional Medical Center.

“It makes sense for the business. They’re complementary but not necessarily overlapping,” said Jett Odle. “We can serve a new product to an entirely new set of customers.”

Using ice cream made by Franklin County-based Homestead Creamery, Graham’s will focus on sundaes and will sell ice cream in cones and bowls as well as milkshakes, some of which will be new takes on drinks at Little Bean.

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Uber co-founder’s ghost kitchen startup buys into Scott’s Addition

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Posted on 6/29/2021 by Mike Platania at Richmond BizSense

A ghost kitchen startup from an Uber co-founder has taken a bite out of Scott’s Addition.

Earlier this month an entity tied to City Storage Systems bought the building at 2812 W. Broad St. for $750,000. The one-story, 6,100-square-foot building is just east of the Hofheimer Building.

City Storage Systems is the parent company of Cloud Kitchens, a ghost kitchen startup from Uber co-founder Travis Kalanick.

Kalanick resigned from the ride-sharing company, under pressure from investors, in 2017 as it faced controversies surrounding allegations of sexual harassment and sexism in the workplace.

He then started Cloud Kitchens, which through the ghost kitchen model offers rentable kitchens to restaurateurs for delivery-only business.

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Commonwealth Commercial Completed a Transaction this Week

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Richmond, VA – June 25, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Glass America MidWest, LLC leased 2,300 SF at 1333 Azalea Garden Road in Norfolk.  Gresh Wall and Nate Krey 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.

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Commonwealth Commercial Completed Nine Transactions this Week

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Richmond, VA – June 18, 2021 – Commonwealth Commercial Partners, LLC is pleased to report last week’s completed transactions.

  • Graham’s Ice Crea, LLC leased 1,678 SF at 7038 Mechanicsville Turnpike in Henrico County.  Michael Morris and John Thompson represented the Landlord.
  • PHGRE, Inc. leased 2,800 SF at 419 North Ridge Road in Henrico County.  Michael Morris represented the Landlord.
  • Supper Club, LLC leased 2,800 SF at 417 North Ridge Road in Henrico County.  Michael Morris represented the Landlord.
  • Well Into Life, LLC leased 3,464 SF at 2307 N. Parham Road in Henrico County.  Eric Hammond and Tucker Dowdy represented the Landlord.
  • Blanchard Strategy, LLC leased 528 SF at 415 Radford Avenue in Henrico County.  Tucker “Nash” Warren and Eliza Izard represented the Landlord.
  • Riverside Logistic Services leased 40,000 SF at 402 E. Randolph Road in the City of Hopewell.  Chip Louthan and Colton Konvicka represented the Landlord.
  • Professional Moving and Storage leased .25 acres at 4300 Vawter Avenue in Henrico County.  Ben Bruni and Russell Wyatt represented the Landlord.
  • Saiia Construction Company, LLC leased 1,600 SF at 1808 Coyote Drive in Chesterfield County.  Ben Bruni represented the Tenant.
  • Green Leaf Medical, LLC leased 5,636 SF at 3100 W. Cary Street in the City of Richmond.  Jim McVey, Michael Morris and Thomas Lynde represented the Landlord.

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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