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National Homebuilder Enters Middle Peninsula

Apr 21, 2015

Gloucester, VA – April 17, 2015 – Commonwealth Commercial Partners, LLC is pleased to have assisted Virginia Enterprises, Inc. with entering an agreement to sell 33 building lots to NVR, Inc. (NYSE: NRV) d/b/a Ryan Homes in Gloucester’s Dunston Hall community. Sam Worley and Ryan Fanelli with Commonwealth Commercial represented Virginia Enterprises, Inc. in the transaction.

Dunston Hall, originally started by George Woodhouse, is a master planned community with pool and clubhouse amenities located beside Gloucester High School. Virginia Enterprises, Inc. acquired the property in 2013. Model home construction has begun for the builder, its first community in Gloucester. “We are happy to have helped create a path for completion of the neighborhood” stated Sam Worley.

For background information on Dunston Hall community, please see an article that appeared in the Daily Press on August 1, 2009 titled “Work Begins Again on Dunston Hall” (http://articles.dailypress.com/2009-08-01/news/0907310087_1_unfinished-homes-evb-life-insurance-policies).   Portion taken from article: “Home sales and construction in Dunston Hall came to a halt last year amid a housing slump and financial and legal troubles of the project’s developer, George Woodhouse. The picture for the subdivision was further muddied when Woodhouse committed suicide on Jan. 20.”

About Commonwealth Commercial:

Commonwealth Commercial Partners, LLC, with offices in Richmond, Virginia, the Hampton Roads region of Virginia, Nashville, Tennessee, Greensboro, North Carolina, Tampa and Jacksonville, Florida is a full service commercial real estate firm founded in 1996. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services for office, industrial, retail, multifamily, senior living and investment clients, as well as the brokerage of land, both rural and development sites.

For more information, visit www.commonwealthcommercial.com.