Lingerfelt CommonWealth Sells Class A Office Building in Tampa, Florida

Tampa, FL (July 6, 2020) – Lingerfelt CommonWealth Partners, LLC (LCP), a Richmond, Virginia-based commercial real estate investment firm, today announced the sale of Buschwood III to Continental Capital Partners, a real estate investment company based in Virginia Beach, Virginia, for $10.35 million.

Buschwood III, a two-story, 78,000 square-foot, Class A office building in Tampa, Florida, was 92% leased to a variety tenants including CoAdvantage, BluePearl Veterinary Services, and the GSA as of disposition. Buschwood III was 86% leased when LCP purchased the property in February 2018 for $8.9 million.  The property is located in Tampa’s Northwest submarket with great access to workforce and executive housing, the Westshore district, and the Tampa International Airport.

Commonwealth Commercial Partners (CCP), an affiliated commercial real estate operating firm of LCP (also based in Richmond, VA), has served as the asset and property manager for Buschwood III since the time of LCP’s acquisition, and has been retained for management services for Continental Capital. CCP currently manages a portfolio of properties for Continental Capital totaling approximately 360,000 square feet in Florida alone, and 2.5 million SF nationally.

“We are thrilled to continue our relationship with Continental Capital and this asset in Tampa,” said Scott Holman, Florida Managing Director at Commonwealth Commercial. “We have had the opportunity to work with the last two ownership groups at this project and we look forward to continuing to provide excellent service to the tenants under Continental Capital’s ownership, as well as creating additional value for our client’s new asset.”

More on the company can be found on the web at www.LingerfeltCommonWealth.com.

ABOUT LINGERFELT COMMONWEALTH PARTNERS

Lingerfelt CommonWealth Partners, headquartered in Richmond, VA, is a vertically integrated, full service real estate investment management firm with additional 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. Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast. Learn more at www.lingerfeltcommonwealth.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 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.

CCP Awarded Property Management of Hampton Oaks Business Park in Tampa, FL

CCP Awarded Property Management of Hampton Oaks Business Park in Tampa, FL

On March 11, Scott Holman announced that CCP has been awarded the property management of Hampton Oaks Business Park in Tampa, FL. This 260,000 square foot project is centrally located in Tampa’s East Side submarket at the intersection of Interstate 4 and U.S. Highway 301. The property consists of six high-quality single-story office/flex buildings and is currently 95% leased to tenants including Verizon, Century Link, Rooms-to-Go and Direct Insurance.

Boston-based Albany Road acquired the property from an affiliate of Alidade Capital on March 3, 2020. This assignment represents an expansion of CCP’s Albany Road relationship here in Florida, on the heels of the Meridian Concourse project which was awarded in December 2019.

The entire CCP transition team did a great job with the setup of this project, allowing for seamless integration with the client and the tenants. Congratulations to all on this new assignment!

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.

CCP Awarded Management of Second Building in The Sauer Center

CCP Awarded Management of Second Building in The Sauer Center

On March 26, 2020, Adam Megenity, CCP-Richmond, announced that Commonwealth Commercial Partners has been awarded the property management of the second building located in Richmond’s newest, urban mixed-use development. This 27,000 sq. ft. Class A office asset is finishing up a historic tax credit renovation and is the next step in this ever-growing project. We are excited to be chosen as the service provider in this game-changing project for downtown Richmond. CCP has also been retained for the brokerage of this asset and the building already 77% leased! Finally, our Asset Management team was recently awarded the asset management of this project. What a fantastic outcome when three of CCP business lines can work on the same asset!

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 Partners Awarded Property Management Project of City View Tower

Norfolk, VA – January 14,  2019 – Commonwealth Commercial Partners (CCP) is pleased to announce it has been awarded the property management of City View Tower Building in downtown Norfolk at 555. E. Main Street. The property is owned by Norfolk Redevelopment and Housing Authority (NRHA), which is one of the building’s larger tenants. City View Tower, built in 1977, is approximately 125,850 square feet and 17 stories high, including six stories of parking.

This assignment for CCP includes property management and construction management, and leasing services.  “We are very excited to manage this property for the NRHA, which represents Commonwealth Commercial’s first entry into the downtown Norfolk office market,” said Craig Cope, Managing Director at Commonwealth Commercial in Hampton Roads.  “We look forward to a successful partnership, as well as the opportunity to increase our presence in the downtown Norfolk area.”

City View Tower is 80% leased, with larger tenants including PNC Bank, Taylor & Walker, P.C., and Tavss, Fletcher, Maiden & Reed, P.C. Deborah Stearns and Christine Young with JLL will manage the leasing for the remaining space on behalf of Commonwealth Commercial.

CCP has over 2,750,000 SF under management in the Hampton Roads area, including Interstate Corporate Center, Reflections Office Park, Battlefield Corporate Center, Liberty Executive Park, 2797 International Parkway, Windwood Centre, Towne Place at Greenbrier, and 1537 Air Rail Ave. CCP has over 15,000,000 SF under management nationwide.

 

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, Kansas City MO, Houston TX and Reading PA. 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 Hires National Director of Property Management

RICHMOND, Va., Aug. 28, 2018 /PRNewswire/ — Commonwealth Commercial Partners is pleased to announce the hiring of Paul Harnett as Senior Vice President, Director of Property Management. Harnett joins CCP’s leadership team and will oversee the company’s tenant services and growing property management portfolio of over 15 million sq. ft. nationwide.

Harnett will focus on ensuring CCP’s delivery of property management services is consistent across all markets and is functioning at the highest level possible. Other key responsibilities will include oversight of policies and procedures, ensuring quality control, personnel development, and financial management for the division.

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Commonwealth Commercial emerges as property market surges

Posted by Nate Delesline III on Inside Business on 10/16/2015

Lingerfelt Commonwealth Partners recently purchased a 22-building portfolio of office space comprising 1.3 million square feet in Virginia Beach, Hampton and Chesapeake.

In a recent announcement, the company said the acquisition brings Lingerfelt’s holdings to 5.5 million square feet across the southeastern United States. Its portfolio includes office, medical office, industrial and hotel properties.

Richmond-based Commonwealth Commercial Partners, a property management affiliate of Lingerfelt Commonwealth Partners, will handle all aspects of the day-to-day property management for the Hampton Roads portfolio.

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