Deed, mortgage recorded for Hanania on Southbank

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Posted on 9/17/2021 by Karen Brune Mathis at Jacksonville Daily Record

Through Hanania Riverplace LLC, Hanania paid $20.67 million for the 10-story office building and six-level garage at 1200 Riverplace Blvd.

Bank of America financed the deal through an almost  $14.47 million mortgage and security agreement.

The deed was executed Aug. 26 and the mortgage was made Aug. 31.

Hanania bought the property from LCP 1200 Riverplace LLC., which is Lingerfelt CommonWealth Partners of Virginia.

The building has 200,627 square feet of rentable space, with 120,000 square feet available for lease.

Fashion retailer Stein Mart Inc. vacated it last year after filing bankruptcy.

Hanania, owner and CEO of Jacksonville-based Hanania Automotive Group, intends to move his headquarters into about 10,000 square feet of space, continue to lease to existing tenants and recruit more companies.

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Story of a Building: Riverplace Tower

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Posted on 1/7/2021 by The Coastal

More than fifty years after it opened, Riverplace Tower remains a prominent figure in Jacksonville’s skyline.

The building’s story begins in the mid-1960s, when locally-based Gulf Life Insurance Company sought to expand beyond its existing office space along Hogan Street. The city was in the midst of a development boom that included the construction of a new library, city hall building, and courthouse, and companies were eager to get in on the boom while they could. Gulf Life set its sights on a piece of property along the Southbank, and construction began on its new 28-story office tower in 1966.

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Clover Acquires Cortez Commons and Names Commonwealth Commercial Partners to Lead Property Management

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Tampa, FL – January 28, 2020 – Clover Investment Properties is pleased to announce the acquisition of Cortez Commons, a 120,000 square foot retail center located in the Cortez Road corridor, one of Manatee County’s highest trafficked areas. The retail center is 89% leased and includes local and national retailers such as Big Lots, Tuesday Morning, Quest Diagnostics, DaVita, and Greenberg Dental.

Clover’s Managing Partner, Lyle Fogarty, remarked, “We look forward to bringing our local ownership to this extremely well positioned asset. We have an aggressive capital and renovation plan to modernize this plaza in order to enhance the environment for our tenants and their customers. It’s especially fulfilling to do so in Bradenton, which is experiencing rapid growth and rejuvenation, and where our ownership group has deep life-long roots.”

The new ownership group has hired Commonwealth Commercial Partners (CCP), a Richmond, Virginia-based comprehensive property solutions firm, as property manager and will look to CCP to manage the general maintenance and tenant relations of the 120,000 square foot retail center.

“We are thrilled to be expanding our relationship with Clover with Cortez Commons,” said Scott Holman, Managing Director at Commonwealth Commercial in Tampa. “We look forward to bringing our pro-active property management approach to this project and working closely with Clover to implement their investment strategy. Our goal is to assist with adding value to the investment while simultaneously improving the tenant and customer experience at the property.” CCP also manages Palms Plaza in Tampa for Clover, as well as other properties in Hillsborough, Pinellas and Manatee Counties.

About Clover Investment Properties

Clover is focused on discovering and delivering on innovative value-add real estate opportunities. We develop and invest in the markets we intimately understand, primarily in the Southeastern United States. Our capabilities span from ground up development to repositioning properties that are underperforming relative to their potential, with experience across various product types. To learn more visit clover-properties.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, Columbus OH, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Houston TX, Kansas City MO, St. Louis MO, and Minneapolis MN. 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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Commonwealth Commercial Partners Awarded Property and Asset Management of Parkway Place

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Jacksonville, FL – December 19, 2019 – Commonwealth Commercial Partners (“CCP”), a Richmond, Virginia-based comprehensive property solutions firm, is pleased to announce it has been awarded the property and asset management of Parkway Place, two single-story office buildings at 6680 & 6700 Southpoint Parkway in the Southside submarket of Jacksonville.

The property was recently purchased by The Runnymede Corporation (“Runnymede”), a family owned commercial real estate investment, development and management company headquartered in Virginia Beach, Virginia, from undisclosed seller represented by Newmark Knight Frank, in conjunction with Newmark Phoenix Realty Group. Permanent financing for the property was arranged by TowneBank. The two buildings on the property comprise 102,960 SF and are 100% leased to four tenants in rail transportation, automotive technology, education and service industries.

Parkway Place is strategically located in the booming Southside of Jacksonville, boasting easy access to I-95, I-295, and Route 202, as well as an amenity-rich suburban environment that offers employees, residents and visitors an abundance of high-end retail, entertainment and food options within minutes.

“We are pleased to be expanding our company’s relationship with Runnymede, and to continue to provide our best-in-class property and asset management services to our clients at this property,” said Scott Holman, Managing Director for CCP in Florida.

“Commonwealth Commercial continues to present us with outstanding suburban office investment opportunities,” said F. Gresham Wall, III, Director of Leasing & Business Development for the Runnymede Corporation.  “We are very excited about our expansion into the Jacksonville market and our ability to partner with such a seasoned and experienced asset management team. This is our second acquisition in two months, and we could not have made it happen without their local experience, knowledge, and dedicated management team.”

CCP manages several properties in the surrounding area, including Enterprise Park, Belfort Crossing, 8800 Baymeadows Way, and Riverplace Tower.

 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, Charleston SC, Greenville SC, Kansas City MO, St. Louis MO, Houston TX, Reading PA, and Minneapolis MN. 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.

About The Runnymede Corporation

Established in Norfolk, Virginia, The Runnymede Corporation is a commercial real estate development and management firm with a diverse real estate portfolio that includes class A office buildings, multi-family properties, self-storage facilities, office/warehouse, shopping centers, mixed use projects and light industrial.  To learn more, visit www.trcva.com.

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Henrico-based Lingerfelt CommonWealth Realty buys Florida hotel

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Posted on 3/1/2017 by Richmond Times-Dispatch

Henrico County-based Lingerfelt CommonWealth Realty Partners has expanded its ownership reach again in Jacksonville, Fla., by buying a dual-branded hotel.

The company acquired the Hilton Garden Inn | Homewood Suites hotel in downtown Jacksonville for $24.7 million, said Kenneth S. Strickler, managing director of acquisitions and asset management for Lingerfelt CommonWealth Partners, the investment management affiliate of commercial real estate firm Commonwealth Commercial Partners. He’s also president of Commonwealth Commercial Partners.

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Lingerfelt CommonWealth Acquires Hilton Dual-Branded Hotel in Downtown Jacksonville, Florida

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Posted on 3/1/2017 on PR Newswire

RICHMOND, Va., March 1, 2017 /PRNewswire/ — Lingerfelt CommonWealth Realty Partners, LLC, a Richmond, Virginia-based commercial real estate investment firm, today announced the acquisition of a stabilized dual-branded Hilton Garden Inn | Homewood Suites hotel in downtown Jacksonville, Florida.

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$26M deal adds to local firm’s Florida holdings

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Posted by Michael Thompson on 7/27/2016 on Richmond BizSense

Continuing its acquisition streak, an Innsbrook-based real estate firm has bagged the headquarters building of a national retailer and further expanded its stake in the Sunshine State.

Lingerfelt CommonWealth acquired the 10-story, nearly 200,000-square-foot Stein Mart Building in Jacksonville, Florida this month for $26.62 million.

Ken Strickler, a managing director at Lingerfelt CommonWealth, said the deal closed July 25 after negotiations began in May.

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Henrico-based Lingerfelt CommonWealth buys office tower in Jacksonville, Fla.

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Posted by Gregory J. Gilligan on 7/26/2016 on Richmond.com

Henrico County-based Lingerfelt CommonWealth Realty Partners has expanded its ownership reach again in Jacksonville, Fla.

The company said today that it acquired the Stein Mart Building in downtown Jacksonville, Fla., for $23.625 million.

The 10-story building, which is headquarters for discount retailer Stein Mart, is currently 95.75 percent occupied, the company said. It is a 196,649-square-foot Class A office building with an adjacent six-story parking garage located in Jacksonville’s Southbank area along the St. Johns River and the newly constructed Southbank Riverwalk.

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