Commonwealth Commercial to provide Asset Management and Property Management for CCP
Aug 26, 2016
FOR IMMEDIATE RELEASE
August 22, 2016
Commonwealth Commercial Partners, LLC to provide Asset Management and Property Management for CCP Commercial’s Real Estate Portfolio
RICHMOND, VA (AUG. 22, 2016) – Commonwealth Commercial Partners, LLC, a full-service commercial real estate firm headquartered in Richmond, Va., has reached an agreement with CCP Commercial Real Estate (“CCP”) to assume asset and property management responsibilities going forward for CCP’s growing real estate portfolio. Virginia Beach, Va.-based CCP’s portfolio consists of approximately 2.5 million square feet of Class A office and industrial projects in the Mid-Atlantic and Southeastern U.S.
“We have developed a strong relationship with CCP and we are delighted to grow with them in both new and existing markets,” said Ken Strickler, President of Commonwealth Commercial. “Their growth trajectory has been impressive and we are excited to go to work in executing the business plan for the expanding portfolio.”
The CCP portfolio contains 31 buildings located in several markets including Reading, Penn. (near Philadelphia); Virginia Beach, Va.; Nashville, Tenn.; and Raleigh and Charlotte, N.C. As a result of this agreement, Commonwealth Commercial has opened new offices in Raleigh, Charlotte, and Reading. Commonwealth Commercial’s managed portfolio now exceeds 13 million square feet across nine offices in the eastern U.S.
“Commonwealth Commercial Partners is among the best commercial real estate operators in the U.S.,” said Jeremy McLendon, President of CCP. “We are delighted to have this opportunity to streamline our operations across all of our markets. Our new relationship with Commonwealth Commercial will allow us to provide a superior level of customer service to our tenants and investors while we continue to expand our business.”
About Commonwealth Commercial Partners, LLC
Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, Va. with offices in Nashville, Tenn.; Jacksonville, Fla.; Tampa, Fla.; Reading, Penn.; Greensboro, Raleigh, and Charlotte, N.C.; and Hampton Roads, Va. Founded in 1996, the firm provides expertise to office, industrial, retail, hospitality, rural and urban land, and investment clients. Supported by proprietary systems that provide consistent, proactive solutions, the team delivers a broad range of services to support the needs of large institutional, regional, and local clients. For more information, visit www.commonwealthcommercial.com.
About CCP Commercial Real Estate, LLC
CCP Commercial Real Estate (CCP) is a “best-in-class” real estate acquisition and asset management firm based in Virginia Beach, Va. CCP sources and provides individual investors with institutional grade investments in commercial real estate. The company has expertise in the areas of sourcing transactions, managing risk, creating value, and generating a consistent stream of cash returns. CCP’s investment strategy easily adapts to constantly changing market conditions, but is rooted in the fundamentals of risk mitigation and cash flow management. For more information, visit www.ccpllc.us.
Kenneth S. Strickler, CCIM
President / Partner
Commonwealth Commercial Partners