Industrial building in Ashland sells for $2.7M

Posted on 7/31/2020 by Sydney Lake at Virginia Business

An industrial building in Ashland has sold for $2.756 million, Glen Allen-based commercial real estate company Commonwealth Commercial Partners LLC announced Wednesday.

Located at 11250 Hopson Road, the 52,500-square-foot building sits on more than 3.6 acres of land. TMC Properties LLC (doing business as Green Air Inc., The Duct Shop and Evolve Air Systems) purchased the property from Gloria Sydnor in a transaction that closed July 23. Colton Konvicka and Nate Krey of Commonwealth Commercial Partners represented the buyer and Kevin Cox of Porter Realty Co. Inc. represented the seller.

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COMMONWEALTH COMMERCIAL FACILITATES $2.7 MILLION OFF-MARKET INDUSTRIAL TRANSACTION

Richmond, VA – Commonwealth Commercial Partners, LLC is pleased to have facilitated the sale at 11250 Hopson Road in Ashland, VA. This property consists of a 52,500± SF industrial building situated on 3.67± acres. Colton Konvicka and Nate Krey of Commonwealth Commercial represented the purchaser, TMC Properties, LLC dba Green Air, Inc/The Duct Shop/Evolve Air Systems. Kevin Cox of Porter Realty Company represented the seller, Gloria Sydnor. This transaction closed on July 23, 2020 for $2,765,000.

Green Air, Inc. will move from its current office to occupy 28,000± SF of this property, doubling their existing space to accommodate their business growth. They plan to implement extensive capital improvements, while maintaining the long-term lease of the existing single tenant of the residual 24,500± SF. This sale was an owner occupant/investment, reverse 1031 exchange for 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 Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Houston TX, Kansas City MO, St. Louis MO, Columbus OH, 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.

Commonwealth Commercial Completed Ten Transactions this Week

Richmond, VA – July 1, 2020 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Crystal Alvis leased 700 SF at 6500 Harbor View Court in Chesterfield County.  Eric Hammond represented the Landlord.
  • Douglas S. Belt, DDS leased 1,013 SF at 5700 Old Richmond Avenue in Henrico County.  Tucker Dowdy and Mark Claud represented the Landlord.
  • Spectra Services, Inc. leased 9,000 SF at 12662 Bermuda Triangle Road in Chesterfield County.  Ben Bruni and David Williams represented the Landlord.
  • Designer Services, LLC leased 25,000 SF at 5611 Pride Road in the City of Richmond.  Ben Bruni and Colton Konvicka represented the Landlord.
  • AG Essence leased 6,600 SF at 5350 Lewis Road in Henrico County.  Ben Bruni and Russell Wyatt represented the Tenant.
  • The Sygma Network, Inc. leased 1,500 SF at 1503 Fauver Avenue in Henrico County.  Ben Bruni and Colton Konvicka represented the Landlord.
  • Buffalo Distro Inc. leased 15,384 SF at 4444 Sarellen Road in Henrico County.  Eric Hammond represented the Tenant.
  • Fiber Technologies Solutions, LLC subleased 6,000 SF at 2401 Road in Charles City County.  Ben Bruni represented the Sublandlord.
  • Megawash, LLC purchased 9.44 acres on US Route 1 in Hanover County from Pence Holdings, Inc. for $700,000.  Ben Bruni and Ryan Fanelli represented the Purchaser.
  • Bermuda Energy, LLC purchased 16.35 acres at 201 Bermuda Road in the City of Richmond from Tredegar Asset Management, LLC for $200,000.  Ryan Fanelli and Nate Krey 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, Charleston 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.

Commonwealth Commercial Completed Five Transactions This Week

Richmond, VA – November 2, 2018 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Levtran Enterprises of Virginia, Inc. renewed 4,000 SF at 1500-C Broad Street in the City of Richmond. Morgan Trible represented the Landlord.
  • Virginia Council of Private Education leased 861 SF at 8401 Patterson Avenue in Henrico County. Evan Ocheltree represented the Tenant.
  • Mutual of Omaha leased 4,333 SF at 4870 Sadler Road in Henrico County. Fred Plaisted and Nate Krey represented the Tenant.
  • Chesterfield Business Alliance, Inc. leased 1,427 SF at 9401 Courthouse Road in Chesterfield County. Tucker Dowdy and Jamie Galanti represented the Landlord.
  • 1525 N. Commerce Avenue, LLC leased 2,800 SF at 3010 West Marshall Street in the City of Richmond. Ben Bruni and Russell Wyatt 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, Greensboro NC, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Reading PA, Kansas City MO and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

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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https://commonwealthcommercial.com