Commonwealth Commercial Closes Sale of Eight Mixed-Use 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 eight mixed-use properties at 1715, 1719, 1723, and 1727 W. Main Street, 1504, 1518, 1520, and 1603 W. Cary Street in Richmond’s Fan District. CCP represented the seller, Eck Enterprises, LLC, and Abhijun Gupta from Taylor Properties represented the purchaser, RPNA Capital, LLC.

Kit Tyler, Senior Vice President at CCP, and Tucker “Nash” Warren, Senior Associate at CCP, negotiated the mixed-use properties’ sale that closed on October 14th for a price of $3 million. The eight properties consist of 13 one- two- and three-bedroom garden apartments, two townhouses, and three commercial units. The buildings were part of the Uptown Portfolio, a large assemblage of real estate holdings owned and developed by Eck Enterprises, LLC.

Praveen Gupta, principal partner at RPNA Capital, LLC is a resident of Henrico County and has been actively investing in the Richmond Fan 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.

“Representing the sale of Eck Enterprises’ Uptown Portfolio has been a great honor for Nash and me,”

said Kit Tyler. “The properties sold in this transaction included a well-kept assortment of commercial and residential units. The Sellers took exceptional care of their properties as well as their tenants. This will be of great value to the new owners, RPNA Capital, LLC.”

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.

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Commonwealth Commercial Completed Three Transactions Last Week

Richmond, VA – September 27, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Achilles Foot and Ankle Center, Inc. leased 1,719 SF at 11801 Ironbridge Road in Chesterfield County.  Russell Wyatt and Tucker Dowdy represented the Tenant.
  • Blue Box Air, LLC renewed 15,000 SF at 1800 W. Marshall Street in the City of Richmond.  Russell Wyatt and Ben Bruni represented the Landlord.
  • SLA Construction, LLC, Trustee of the 5141 Springfield Road Land Trust purchased 2 acres of land at 5141 Springfield Road in Henrico County from Ferramosca Properties, LLC for $425,000.  Ryan Fanelli 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 Seven Transactions this Week

Richmond, VA – November 19, 2020 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Epic Partners, LLC leased 2,228 SF at 306 Turner Road in Chesterfield County.  Tucker Nash Warren represented the Tenant.
  • Miles & Stockbridge PC leased 5,042 SF at 919 E. Main Street in the City of Richmond.  Jamie Galanti, Russell Wyatt and Eliza Izard represented the Landlord.
  • Nguyen LLC purchased 10,200 SF at 1700 Huguenot Road in Chesterfield County from 1700 Huguenot Properties, LLC for $1,100,000.  Eric Hammond represented the Purchaser.
  • CIG 6290 RFO, LLC purchased 38,900 SF on 2.25 acres at 6290 Warwick Road in the City of Richmond from Rastek Construction & Development Corp. for $1,850,000.  Ryan Fanelli and Colton Konvicka represented the Seller.
  • 2350 Greystone, LLC purchased 6.687 acres at 2350 Greystone Court in Goochland County from Rockville Commerce Center, LLC for $802,440.  Ben Bruni and Joe Buhrman represented the Purchaser.
  • Carter Lumber of Virginia, Inc. purchased 4.8 acres at 2801 Sprouse Drive in Henrico County from BB&T Investors for $445,000.  Ben Bruni and Joe Buhrman represented the Seller.
  • The McDowell Company, LLC purchased 5,240 SF at 3801 Jeff Davis Highway and 2524 Bells Road in the City of Richmond from Keystone Mountain Lakes Regional Council of Carpenters for $267,000.  Ryan Fanelli and Colton Konvicka 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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Generational Development Property, Watkins Centre, Hits The Market

Posted on 8/7/2018 by PR Newswire

RICHMOND, Va.Aug. 6, 2018 /PRNewswire/ — Commonwealth Commercial Partners is pleased to announce the award of brokerage services for Watkins Centre, a 285± acre tract slated for mixed-use development opportunities, located on Route 60, directly southwest of its intersection with Route 288. The property will be represented by a team of brokers to include: Bill BarnettJoe BuhrmanJamie GalantiChris JenkinsMichael MorrisNate Krey, and Eliza Izard.

Owned by Watkins Land, LLC, this tract is an integral part of the larger 786-acre Watkins Centre development, which includes Westchester Commons, across Route 60 from the property, and Bon Secours, PIEtech and The Pearl at Watkins Centre which are directly adjacent to the property. The tract is zoned for a mix of office space, light industrial, medical clinic, a maximum of 450 multi-family residential units, community/neighborhood business uses, and recreational amenities. The intent is to allow the market to create a true mixed-use development, with an appropriate mix of residential, retail and office.

Bill Barnett, Senior Vice President and Partner of Commonwealth Commercial, remarked, “The Watkins Centre community is destined to be the strategic Downtown of Midlothian.  Chesterfield County has just expanded permitted uses to include multifamily, retail/entertainment, hospitality and office in a walkable setting. This presents an exciting opportunity for businesses that may not have considered this area before now. Chesterfield County as a whole will benefit for decades to come.”

Watkins Land is particularly enthusiastic about the relationship with Commonwealth Commercial and their goal of a coordinated plan of development for the balance of Watkins Centre,” commented John Watkins, manager for Watkins Land LLC, which owns Watkins Centre.  “They have a team of professionals that bring experience in all facets of industrial, commercial, retail and entertainment development. This, coupled with the remaining land available and its superior location, makes Watkins Centre the ‘Place To Be’ in Chesterfield County, Virginia.”

Charlottesville-based Castle Development Partners has a portion of the land under contract with plans to construct a $90 million, 450-unit apartment project along Watkins Centre Parkway. “We believe Watkins Centre has enormous potential to become a true mixed-use development with regional employment opportunities, local shops and restaurants, as well as a luxury residential community,” said Andy McGinty, Principal of Castle Development Partners. “The location of the property and the timing of these projects couldn’t be better. We are very excited to be a part of the ongoing growth and development of this submarket.”

This project joins a large pipeline of residential projects proposed in the immediate area, with over 2,000 apartments proposed or under construction in the Midlothian corridor. The growing labor force in the immediate area and the limited office space supply suggests strong fundamentals for new office construction. Coupled with the nearby River City Sportsplex, which hosts national lacrosse, field hockey and soccer tournaments on an annual basis, and the proposed 105-acre waterpark, there is an exceptional opportunity for hospitality and retail as well. Watkins Centre has excellent road frontage to Route 60 and quick access to Route 288, which allows for significant visibility. It is ideally situated in the submarket of Midlothian with the highest per capita income in the Richmond MSA.

For additional information on the proposed development, such as site plans, allowed uses, and up to date project information, visit WatkinsCentreProperty.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 VANashville TNJacksonville FLTampa FLGreensboro NCCharlotte NCRaleigh/Durham NCGreenville SCHouston TXReading PA and Kansas City MO. 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.

SOURCE Commonwealth Commercial Partners

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COMMONWEALTH COMMERCIAL COMPLETES EIGHT TRANSACTIONS THIS WEEK

Richmond, VA – May 5, 2017 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Winnduck Farm, LLC purchased 285 acres on Boiling Bridge Road in Sussex County for $400,000.  Hank Campbell represented the Seller.
  • American Equity Development Co., LLC purchased 1.05 acres at 4901 Nine Mile Road in Henrico County for $800,000.  Carl Blackwell represented the Purchaser.
  • AR Group, LLC purchased 1.193 acres at 10231 East Patrick Henry Boulevard in Hanover County for $750,000.  Christian Sowers and Ryan Fanelli represented the Purchaser.
  • Karns Keep, LLC purchased an 18,845 SF building at 10223 Timber Ridge Drive in Hanover County.  Ben Bruni and Russell Wyatt represented the Seller and Tucker Dowdy and Evan Ocheltree represented the Purchaser.
  • CK Appliance Repair LLC leased 2,550 SF at 3909 Deep Rock Road in Henrico County.  Tucker Dowdy and Jim McVey represented the Landlord.
  • Property Services of Virginia leased 977 SF at Boulders II, 7400 Beaufont Springs Drive in Chesterfield County.  Jamie Galanti and Russell Wyatt represented the Landlord.
  • Biomech Sensors leased 2,100 SF at Waterford I, 2820 Waterford Lake Drive in Chesterfield County.  Evan Ocheltree and Fred Plaisted represented the Landlord.
  • Hometown Rentals of Virginia, Inc. leased 3,000 SF at 123 Hill Carter Parkway in Hanover County.  Morgan Trible 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, Greensboro NC, Charlotte NC, Raleigh/Durham NC, Greenville SC and Reading PA. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

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