BizSense The Pipeline: Commercial Real Estate Roundup for 4.8.22

Posted on 4/8/2022 –The Pipeline: Commercial real estate roundup for 4.8.22

Commonwealth Commercial is pleased to announce the following transactions last week:

Congrats to our Sales and Leasing team! Commonwealth Commercial is pleased to announce the following deals this week:

ABG Group leased 840 square feet at 9401 Courthouse Road in Chesterfield. Tucker Dowdy and Jamie Galanti represented the landlord.

Virginia Passenger Rail Authority leased 15,536 square feet at 919 E. Main St. in Richmond. Jamie GalantiEliza Izard and Russell Wyatt represented the landlord.

Vander Motorwerks LLC leased 1,800 square feet at 10385 Wood Park Court in Hanover. Colton Konvicka represented the tenant.

Neo Classic Cars leased 4,050 square feet at 4905 W. Marshall St. in Henrico. C. Ryan Fanelli Fanelli represented the tenant.

Andres Rocha-Marron purchased 3.38 acres at 8849 Whitepine Road in Chesterfield for $195,000 from Harrison & Hine. Michael Mayhew represented the buyer.

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BizSense The Pipeline: Commercial Real Estate Roundup for 3.25.22

Posted on 3/25/2022 –The Pipeline: Commercial real estate roundup for 3.25.22

Congrats to our Sales and Leasing Team! Commonwealth Commercial is pleased to announce the following transactions last week:

K&G Limited Partnership purchased 14 acres at 12554 Patterson Ave. in Goochland for $950,000 from Michael Ann Singer and Clifford S. Singer. Commonwealth Commercial Partners’ Michael Mayhew and Ben Bruni represented the buyer and C. Ryan Fanelli and Sam Worley represented the seller.

Hands of Unity leased 1,695 square feet at 7400 Beaufont Springs Drive in Chesterfield. Eliza IzardJamie Galanti and Russell Wyatt represented the landlord.

Realty Income Properties 26 LLC purchased 2,657 square feet at 7300 Hull Street Road in Chesterfield for $825,000 from MDW Holdings. Michael MorrisJim McVey and Thomas Lynde represented the seller.

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BizSense The Pipeline: Commercial Real Estate Roundup for 3.11.22

Posted on 3/11/2022 –The Pipeline: Commercial real estate roundup for 3.11.22

Commonwealth Commercial Partners reports the following transactions:

Dooley & Vicars, Certified Public Accountants LLP leased 4,405 square feet at 1100 Boulders Parkway in Chesterfield. Jamie GalantiEliza Izard and Russell Wyatt with Commonwealth Commercial Partners represented the landlord.

Millwright Local 219 leased 1,571 square feet at 2500 E. Parham Road in Henrico. Tucker Dowdy represented the tenant.

1481 Darbytown Road Opportunity Zone LLC purchased 1.76 acres at 1481 Darbytown Road in Henrico for $110,000 from Eventus Enterprises. C. Ryan Fanelli and Tucker Dowdy represented the seller.

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BizSense The Pipeline: Commercial Real Estate for 2.11.22

Posted on 2/11/2022 –The Pipeline: Commercial real estate roundup for 2.11.22

Commonwealth Commercial Partners reports the following deals:

Watermark Gardens purchased 2.9 acres at Ironbridge Road and Kingsland Glen Drive in Chesterfield for $1.7 million from Kingsland Towncenter LLC. Nicki Jassy and Pete Waldbauer with Cushman & Wakefield | Thalhimer represented the seller. Sam Worley and C. Ryan Fanelli with Commonwealth Commercial Partners represented the buyer.

The Destin Group leased 540 square feet at 5935 Hopkins Road in Chesterfield. Eric Hammond represented the landlord.

Peter Werks LLC leased 3,005 square feet at 3007 W. Clay St. in Richmond. Ben Bruni and Russell Wyatt represented the landlord.

Willow 13 Properties purchased 4,251 square feet at 6506 W. Broad St. in Henrico for $895,000 from AFAB Investors. Jim McVeyMichael Morris and Thomas Lynde represented the buyer.

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BizSense The Pipeline: Commercial Real Estate for 2.4.22

Posted on 2/4/2022 –The Pipeline: Commercial real estate roundup for 2.4.22

Commonwealth Commercial Partners reports the following deals:

Douglas Development Corp. purchased 38,702 square feet at 115 N. Jefferson St. in Richmond for $3.3 million from Tiffanie’s Manor for Young Adults LLC. C. Ryan FanelliTucker Dowdy and Michael Good with Commonwealth Commercial Partners represented the seller.

Marand Builders leased 2,426 square feet at 11551 Nuckols Road in Henrico. Eric HammondJamie Galanti and Russell Wyatt represented the landlord.

Pneuma Wellness leased 1,215 square feet at 8503 Patterson Ave. in Henrico. Russell Wyatt and Eliza Izard represented the landlord.

EVR Research leased 1,073 square feet at 411 Libbie Ave. in Richmond. Jim McVey represented the landlord.

Healing Circle Counseling and Services leased 2,681 square feet at 2819 N. Parham Road in Henrico. Eric Hammond and Michael Good represented the landlord.

KC Transport Services leased 1,194 square feet at 9401 Courthouse Road in Chesterfield. Tucker Dowdy and Jamie Galanti represented the landlord.

NLT VA LLC purchased 8,939 square feet at 12901 Briggs Road in Chesterfield for $1.3 million from Beckwith LLC. Tucker Dowdy and Michael Good represented the seller.

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BizSense The Pipeline: Commercial Real Estate for 1.28.22

Posted on 1/28/2022 –The Pipeline: Commercial real estate roundup for 1.28.22

Commonwealth Commercial Partners reports the following deals:

Vinson Investments purchased 3,685 square feet at 3781 Westerre Parkway, Suite A and B, in Henrico for $700,000 from Andrew Jackson LLC. Tucker Dowdy and Jamie Galanti with Commonwealth Commercial Partners represented the seller.

Encompass Supply leased 22,800 square feet at 1801 W. Marshall St. in Richmond. Commonwealth Commercial Partners’ Ben Bruni represented the tenant and Russell Wyatt represented the landlord.

Chez Crenshaw leased 9,156 square feet at 6290 Old Warwick Road in Richmond. Colton Konvicka and C. Ryan Fanelli Fanelli with Commonwealth Commercial Partners represented the landlord.

Moffatt & Nichol Inc. leased 7,980 square feet at 1100 Boulders Parkway in Chesterfield. Jamie GalantiRussell Wyatt and Eliza Izard represented the landlord.

Odle Management Group leased 1,160 square feet at 7400 Beaufont Springs Drive in Chesterfield. Jamie GalantiRussell Wyatt and Eliza Izard represented the landlord.

Foods for Change expanded its 2,250-square-foot lease at 1110-1112 Westbriar Drive in Henrico. Tucker “Nash” Warren and Kit Tyler represented the tenant.

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BizSense The Pipeline: Commercial Real Estate for 1.7.22

Posted on 1/7/2022 – BizSense The Pipeline: Commercial real estate for 1.7.22

Commonwealth Commercial Partners reports the following deals:

Zachary Miller leased 1,572 square feet at 2819 N. Parham Road in Henrico. Eric Hammond and Michael Good represented the landlord.

Anthony & Sylvan Pools Corp. leased 6,600 square feet at 10408 Lakeridge Parkway in Hanover. Ben Bruni represented the tenant.

Vital Support Services leased 737 square feet at 12202 Gayton Road in Henrico. Nash Warren and Tucker Dowdy represented the landlord.

SR Westwood Avenue LLC purchased 129,800 square feet at 2031 Westwood Ave. in Richmond for $7.5 million from Westwood Development Group. Ben Bruni and Ryan Fanelli represented the buyer.

The Virginia Center for Policing Innovation leased 5,122 square feet at 413 Stuart Circle in Richmond. Eric Hammond and Michael Good represented the landlord.

David Moore leased 1,877 square feet at 127 Richmond Highway in Richmond. Ben Bruni represented the landlord.

Randolph Homes LLC purchased 0.191 acres at 6 S. 1st St. in Richmond for $550,000 from E.H.K. Associates. Eric Hammond and Thomas Lynde represented the seller.

 

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Richmond trio shells out millions to crack peanut cold storage industry

Posted on 1/5/2022 by Michael Schwartz at Richmond BizSense

Yogi Singh and his longtime business partners last month acquired the business assets and real estate of Virginia Cold Storage and Nansemond Cold Storage, two Suffolk-based sister companies that specialize in the refrigerated storage and handling of mainly peanuts.

It’s a bit of a departure for Singh and his crew, who have focused their real estate investment in recent years mainly on office buildings, mobile home parks and RV campgrounds.

But Singh said this new leap follows a common theme across their prior deals and that they happened upon the cold storage properties while pursuing their first leap into industrial and warehouse properties.

“We’ve always looked at niche real estate,” he said. “We were trying to find a place to make an entry into the (warehouse) industry but at a reasonable investment level.

“We came upon specialized food storage and it was an entry point we could execute on and so we did. We bought the real estate and the business.”

The deal included paying $17 million for three cold storage warehouses in Suffolk – known at one point as the world’s peanut capital and the original home of Planters Peanuts. Additional consideration was paid for the business operations, though Singh would not specify that price.

The warehouses total 255,000 square feet and the acquisition included extra land that allows for the potential to nearly double that square footage.

The warehouses are built to handle a target load of about 40 million pounds of shelled and unshelled nuts and products like peanut paste, peanut butter and peanut brittle, which mainly are moved in standard-unit 2,000-pound bags that come in and out on tractor-trailers on their way to and from processing.

Product for 10 major clients occupies the bulk of that existing space, including Birdsong Peanuts, Olam International and Hershey.

The sellers were Josh “Pret” Pretlow and Tom “Buzz” Hofler, who have owned the business since 1996. Pretlow and Hoffler allowed Singh’s group to observe the business while the deal was ironed out and have agreed to stay on and help run the business for at least a year.

Also coming over in the deal are all 17 of the company’s employees.

Singh said that continuity helps his firm better tackle the learning curve of running a new business, which has certain complexities such as rigorous certifications by the American Institute of Baking.

“Having had essentially a year to embed in the company and work alongside of Buzz and Pret allowed us to see that not only were we getting highly desirable real estate but the team we are inheriting will allow this platform to grow much faster than if we had to build an operating business from scratch,” Singh said.

While Singh would not comment on how much revenue the cold storage businesses produce, he said his group will look to grow the bottom line over time by employing more technology for operations and potentially expanding with additional storage facilities near U.S. ports to bring in more international clients.

Singh’s group was represented by brokers Ryan Fanelli and Ben Bruni of Commonwealth Commercial.

The acquisition was made through the group’s AgCold LLC, the brand it will use as it pursues additional deals in cold storage.

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Commonwealth Commercial Completed Six Transactions this Week

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

  • Carova Holding Company, Inc. leased 1,297 SF at 2101 Parks Avenue in Virginia Beach.  Gresh Wall represented the Landlord.
  • Dr. Kim Byerly renewed the 995 SF lease at 5101 Cleveland Street in Virginia Beach.  Gresh Wall represented the Landlord.
  • Synapse Technologies, Inc. leased 3,281 SF at 236 Clearfield Avenue in Virginia Beach.  Gresh Wall represented the Landlord.
  • Nettles Storage, LLC purchased 3.5 acres of land at 12994 Nettles Drive in Newport News from Nettles Associates, LLC for $650,000.  Ryan Fanelli and Nate Krey represented the Seller.
  • Victorino de la Barrera leased 4,280 SF at 6290 Old Warwick Road in the City of Richmond.  Colton Konvicka and Ryan Fanelli represented the Landlord.
  • Capital Interior Contractors, Inc. leased 35,000 SF at 11011 Richardson Road in Hanover County.  Ben Bruni and Tucker Dowdy 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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Commonwealth Commercial Completed Eight Transactions this Week

Richmond, VA – December 3, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • InMotion Physical Therapy, LLC leased 4,347 SF at 3001 Hungary Spring Road in Henrico County.  Eric Hammond and Chip Louthan represented the Tenant.
  • Mosaic Group, LLC dba Mosaic Pediatric Therapy leased 4,087 SF at 5153 Craig Rath Boulevard in Chesterfield County.  Jamie Galanti and Eliza Izard represented the Tenant.
  • Carova Holding Company, Inc. leased 1,297 SF at 2101 Parks Avenue in Virginia Beach.  Gresh Wall represented the Landlord.
  • Ogburn Brothers, Inc. leased 28,000 SF at 10987 Richardson Road in Hanover County.  Chip Louthan and Michael Mayhew represented the Tenant.
  • Richmond Pediatric Dentistry and Orthodontics renewed its 2,938 SF lease at 8503 Patterson Avenue in Henrico County.  Eliza Izard and Russell Wyatt represented the Landlord.
  • Nettles Storage, LLC purchased 3.5 acres of land at 12994 Nettles Drive in Newport News from Nettles Associates, LLC for $650,000.  Ryan Fanelli and Nate Krey represented the Seller.
  • Virginia Electric and Power Company purchased 11.8 acres at 212 Dry Bridge Road in Chesterfield County from Watkins Land, LLC for $530,000.  Bill Barnett, Joe Buhrman and Chris Jenkins represented the Seller.
  • Bellwood Crossing LLC purchased 3.5 acres at 8009, 8011, 8031, 8045 and 8075 Jefferson Davis Highway in the City of Richmond from The Diamond Group, LLC for $1,350,000.  Chris Jenkins, Randy Cosby and Michael Good represented the Purchaser and Ben Bruni represents 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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