Breeden pays $3M for Cobb Lumber site for $53M mixed-use project

Posted on 11/18/2021 by Jonathan Spiers at Richmond BizSense

A pair of recent land deals are setting the stage for a mixed-use development of a longtime industrial site along Hermitage Road.

An entity tied to The Breeden Co. closed this month on its purchase of the Cobb Lumber site at 2300 Hermitage Road, where the Virginia Beach-based developer is planning a new-construction project that would include a new headquarters for its Richmond-based construction arm, Breeden Construction.

The entity, Duplex Station LLC, paid $3.2 million for the nearly 2-acre property in a deal that closed Nov. 8. City property records show the site was most recently assessed at $1.42 million.

The seller was Foundry Associates, an entity owned by Steven Clifton and Garland Clay. Clifton is president of Cobb Lumber, which has operated there since 1990. Records show that they paid $260,000 for the property, which is on the west side of Hermitage between the railroad tracks and the Richmond Ambulance Authority property.

Breeden also is buying a sliver of RAA’s property at 2400 Hermitage Road for the project. Last month, the Richmond City Council approved a surplus designation and TOD-1 zoning for the 0.17-acre portion, which the city agreed to sell to affiliate Breeden Investment Properties for $110,250.

Duplex Station LLC is a reference to Breeden’s project, named “Duplex Station on Hermitage.” The six-story building, which would replace the property’s existing structures and fill the entire triangular-shaped site, is planned for 142 apartments and 24,000 square feet of commercial space that would house Breeden Construction.

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Commonwealth Commercial Completed Eight Transactions this Week

Richmond, VA – November 12, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Brandi Walker leased 2,910 SF at 131 Richmond Highway in the City of Richmond. Ben Bruni represented the Landlord.
  • Moser Originals, LLC leased 3,410 SF at 6290 Old Warwick Road in the City of Richmond. Colton Konvicka and Ryan Fanelli represented the Landlord.
  • Belle Cabana leased 2,250 SF at 1260 Alverser Plaza in Chesterfield County. Ben Boykin and Ryan Fanelli represented the Tenant.
  • IvyRehab Mechanicsville VA, LLC dba Spectrum Physical Therapy leased 6,024 SF at 7225 Bell Creek Road in Hanover County. Morgan Trible and Jim McVey represented the Landlord.
  • Classic Air Care, LLC leased 24,349 SF at 240 Clearfield Avenue in Virginia Beach. Gresh Wall represented the Landlord.
  • DCCC, Inc. leased 3,300 SF at 2301 N. Parham Road in Henrico County. Eric Hammond and Tucker Dowdy represented the Landlord.
  • Vanderbilt Properties, LLC purchased .05 acres at 127 N. 18th Street in the City of Richmond from Rochelle Holding Company for $150,000. Jim McVey, Michael Morris and Thomas Lynde represented the Seller.
  • Duplex Station, LLC purchased 30,000 SF at 2300 Hermitage Road in the City of Richmond from Foundry Associates for $3,200,000. Ben Bruni and Ryan Fanelli 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, 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 Six Transactions this Week

Richmond, VA – October 29, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Uncommon Redesigns, LLC leased 1,856 SF at 238 Clearfield Avenue in Virginia Beach. Gresh Wall represented the Landlord.
  • Jobeka Health Care Services, LLC leased 811 SF at 1106-1108 E. Main Street in the City of Richmond. Ben Boykin and Michael Good represented the Tenant.
  • London Burke leased 1,400 SF at 304 East Main Street in the City of Richmond. Eric Hammond represented the Landlord.
  • Lavram, LLC purchased 101 Heaths Way Road in Chesterfield County for $1,600,000 from Railey Hill Associates, LLC. Tucker Dowdy and Russell Wyatt represented the Seller.
  • 6951 Carnation Acquisition, LLC purchased 2.64 acres at 6951 W. Carnation Street in the City of Richmond from FW Properties II, LLC for $300,000. Ryan Fanelli and Sam Worley represented the Seller.
  • 700 Carnation Acquisition, LLC purchased 5.393 acres at 7000 W. Carnation Street in the City of Richmond from FW Properties II, LLC for $525,000. Ryan Fanelli and Sam Worley 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 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 Three Transactions this Week

Richmond, VA – September 17, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Honey Car, Inc. leased 19,400 SF at 190 Commonwealth Court in Winchester.  Ryan Fanelli represented the Tenant.
  • Brianna Earl dba The Self Love Co. leased 1,552 SF at 1321 ½ East Main Street in the City of Richmond.  Eric Hammond represented the Landlord.
  • 16 S. 2nd Street LLC purchased a 6,296 SF office building at 16 S. 2nd Street in the City of Richmond from EHK Associates for $560,000.  Thomas Lynde and Eric Hammond 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 EXECUTES SALE OF HOPE FARM TRACT IN HANOVER COUNTY

Hanover, Virginia – Commonwealth Commercial, a leading commercial real estate firm headquartered in Richmond, represented the Fearnow family in selling the last piece of their Hope Farm property in Hanover County. The 16+ acres will become a multi-family community by Eagle Construction called Brunswick at Hope Farms, a nod to the popular canned stew created by Hanover County entrepreneur and businesswoman Lillie Fearnow.

Ryan Fanelli and Sam Worley, both Senior Vice Presidents and Partners at Commonwealth Commercial, served as brokers for the transaction, which closed on August 24, 2021 for a sale price of $1.4 million.

Located on a large section of Shady Grove Road in Hanover County, Brunswick at Hope Farms will consist of 49 age-restricted townhomes in an L-shaped community with a pond in the middle. 

“It was a privilege to collaborate with the Fearnow family on the remaining tract of their beloved Hope Farm,” said Ryan Fanelli. “The property’s name has achieved an iconic status and is still featured prominently on the bright yellow label of their ‘Delicious Brunswick Stew’. It’s nice to know that the new development’s name will carry on the legacy of Hope Farm.” 

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, Tenn.; Jacksonville, Fla.; Tampa, Fla.; Charlotte, N.C.; Raleigh/Durham, N.C.; Greenville, S.C.; Houston, Texas; Kansas City, Mo.; St. Louis, Mo.; Columbus, Ohio; and Minneapolis, Minn., and is active in Connecticut and Illinois. 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 Completed Four Transactions this Week

Richmond, VA – August 6, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Utility Partners of America, LLC leased 22,500 SF at 8310 Shell Road in Chesterfield County.  David Williams and Ben Bruni represented the Landlord.
  • Richmond EMG & Physiatry Associates leased 823 SF at 5700 Old Richmond Avenue in Henrico County.  Tucker Dowdy and Michael Good represented the Landlord.
  • L&D Land Trust purchased 33,855 SF at 10223 Sycamore Drive in Hanover County from Lakeridge Properties, LLC for $2,400,000.  Ben Bruni and Ryan Fanelli represented the Seller.
  • Urbanna at Hioaks, LP purchased 12.27 acres at 6850 Atmore Drive in the City of Richmond from FW Properties II, LLC for $725,000.  Ryan Fanelli and Sam Worley 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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Uber co-founder’s ghost kitchen startup buys into Scott’s Addition

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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Renovation of Hardywood brewery’s original location plus new residential development make centerpiece of Brewer’s Row

Posted on 6/25/2021 by John Reid Blackwell at Richmond.com

One of the epicenters of the Richmond region’s craft brewing renaissance is starting to undergo a transformation.

Over roughly the next year or so, new apartments and condos will rise in the blocks surrounding Hardywood Park Craft Brewery’s location on Ownby Lane in Richmond, bringing more than 250 residential units to what is now mainly an industrial and office area.

“We are trying to create a community there with Hardywood in the middle,” said Andrew Basham, a principal with Spy Rock Real Estate Group, the Richmond-based company that is developing the project.

With Hardywood at the center and two other breweries — Castleburg Brewery and Main Line Brewery — within walking distance, Spy Rock is calling the development Brewer’s Row.

The new residential development comes as Hardywood itself has undergone a transformation at its Ownby Lane brewery and taproom.

Gone is the original Hardywood building at 2408 Ownby Lane, a former warehouse where brewery founders Eric McKay and Patrick Murtaugh brewed their first small batches of beer in 2011. That building has been torn down and the bare lot is now surrounded by fencing as construction is set to start on one piece of the Spy Rock development, a unit of 36 rental condos.

Immediately adjacent to that lot is a building at 2410 Ownby Lane that Hardywood acquired in 2012.

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Commonwealth Commercial Completed Four Transactions this Week

Richmond, VA – June 4, 2021 – Commonwealth Commercial Partners, LLC is pleased to report last week’s completed transactions.

  • 2812 W. Broad Street RVA LLC purchased 6,120 SF at 2812 W. Broad Street in the City of Richmond from Richard & Roslyn B. Blankenship for $750,000.  Ryan Fanelli and Colton Konvicka represented the Seller and Ben Bruni represented the Purchaser.
  • Fitzhugh Building LLC purchased 9,000 SF at 4900-4902 Fitzhugh Avenue in the City of Richmond from Dallan Development, LLC for $1,600,000.  Ben Bruni and Russell Wyatt represented the Seller.
  • Abbott’s Auto Service renewed its 4,596 SF lease at 11008-F and 11008-M West Broad Street in Henrico County.  Jim McVey represented the Landlord.
  • Macemedia, Inc. leased 1,803 SF at 11551 Nuckols Road in Henrico County.  Eric Hammond, Jamie Galanti and Russell Wyatt 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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