Commonwealth Commercial Hires Scott Keeton as New Managing Director of Sales & Leasing

Richmond, VA – August 24, 2021 – Commonwealth Commercial Hires Scott Keeton as New Managing Director of Sales & Leasing

Commonwealth Commercial Partners is pleased to announce that Scott R. Keeton has joined the company as the Managing Director of Sales & Leasing, operating from the corporate headquarters in Richmond. In his new role at CCP, he will be responsible for managing the firm’s sales and leasing operations in the Richmond and Hampton Roads regions, which currently includes more than 340 properties with over 4 million square feet and 3,900 acres under listing agreements.

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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 Five Transactions this Week

Richmond, VA – August 20, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Myrandontash, Inc. dba The Chrysm Institute of Esthetics leased 3,990 SF at 21 Enterprise Parkway in Hampton. Gresh Wall represented the Tenant.
  • GMA Interventions, LLC leased 4,132 SF at 5101 Cleveland Street in Virginia Beach. Gresh Wall represented the Landlord.
  • 40 Wellness LLC dba Hand & Stone leased 590 SF at 5300 Hickory Park Drive in Henrico County.  Eric Hammond and Michael Good represented the Landlord.
  • Sleeping Dog, Ltd. Leased 8,100 SF at 1329 E. Cary Street in the City of Richmond. Kit Tyler and Michael Good represented the Landlord.
  • Old Washington Highway, LLC purchased 32,000 SF on 5.32 acres at 10441 Washington Highway in Henrico County from G&G Motorcycles, Inc. for $2,900,000. Ben Bruni and David Williams 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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OBX CRE Spotlight – Gresh Wall

Posted on 8/16/2021

Quick Facts
Born in Charlottesville, VA
Raised in Virginia Beach, VA
University of Virginia grad, BA Communications
Married to Caryn
Children: Kenzie (20) and Gresham (19)
Pets: Obi – 5 year old black lab
We are a beach family and we spend a lot of time back and forth between Virginia Beach and the OBX

How long have you been working in commercial real estate?

31 years.

How did you first get into real estate?
I worked for a property management company in college and got my first taste of real estate. After graduation, I decided to pursue a career in commercial real estate and started my career in Tysons Corner where I worked in market research, appraisal, financial analysis, and then ultimately brokerage & consulting.

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Commonwealth Commercial Completed Two Transactions this Week

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

  • Bar3, LLC dba Beauty Awakened leased 3,103 SF at 1300 Winterfield Road in Chesterfield County. Tucker Dowdy and Sam Worley represented the Landlord.
  • 18 W. Franklin St., LLC purchased 7,834 SF at 415 & 425 N. Arthur Ashe Boulevard in the City of Richmond from MJK Properties, LLC for $1,400,000. Jamie Galanti 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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Preparing for the worst amid pandemic, CFOs positioned businesses for recovery

Posted on 7/31/2021 by Gary Robertson at Virginia Business

John Brocato’s coveted tickets to the Atlantic Coast Conference men’s basketball tournament suddenly became void in March 2020 after the ACC canceled the tournament as the COVID-19 pandemic began turning the world on its head.

And as the chief financial officer of a small building supply company with offices in Charlottesville and Fluvanna County, Brocato had to abruptly stop thinking about basketball and begin thinking how his company, Better Living Inc., founded in 1893, was going to continue operating.

Taking actions such as keeping employees on the payroll was critical not only during the pandemic but also to lay the foundation for a better recovery after the pandemic was under control.

CFOs in various sectors across Virginia — from banking to transportation to higher education — faced similar challenges, although circumstances differed widely. And in a trend accelerated by the pandemic, CFOs saw their roles expand far beyond spreadsheets and balancing books into administrative matters.

Some CFOs were responsible for shifting their workforce to remote work, creating a new paradigm that had implications beyond the pandemic. But for others, such as Brocato, keeping workers safe at an in-person job site was essential to staying in business.

Brocato sent out his first pandemic-related memo on March 25, 2020, outlining how Better Living would be responding to COVID-19.

A few days earlier, company officials learned that Better Living had been designated an essential business because of its affiliation with the construction industry and that industry’s contribution to the nation’s economic security. Only two of the company’s 90-plus employees had the ability to work remotely. All others had to be on site.

“Our first goal was to make sure our employees were taken care of emotionally, physically and financially. Kids were home from school and parents didn’t know what to do. People were stressed, and we wanted to take the work stress off,” Brocato says.

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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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Wegmans pays $4M for 220-acre site of contested Hanover County facility

Posted on 8/3/2021 by BizSense

Following a string of permit approvals and court decisions in its favor, Wegmans Food Markets has moved ahead with purchasing the site of a planned distribution facility and regional headquarters in Hanover County.

But at least one legal challenge to the project remains in play.

The supermarket chain closed July 20 on the nearly 220-acre site where it’s approved to build the 1.1 million-square-foot, $175 million facility. Commonwealth Commercial Partners, which brokered the deal, reported the purchase price at $4 million.

Commonwealth Commercial’s Bill Barnett, who represented Air Park Associates in the deal along with colleagues Joe Buhrman and Chris Jenkins, said the timing of the purchase was reflective of the recent developments surrounding the project.

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Commonwealth Commercial’s July Personnel News

Richmond, VA – August 1, 2021 – Commonwealth Commercial Partners, LLC is pleased to report new hires and promotions during the month of July.

  • DCP New Hire – Steve Henderson
    Steve joins DCP as a Senior Project Superintendent with over 16 years of Superintendent experience following two decades in the masonry industry.
  • DCP New Hire – Daniel Tatarinov
    Daniel joins DCP as a Project Superintendent with over ten years of experience across residential, industrial and commercial construction.
  • DCP Intern – Matthew Walls
    Please join us in welcoming Matthew Walls to DCP as a Summer Intern.
  • Promotion – Cynthia Dohnal
    Cynthia Dohnal has been promoted to Senior Lease Administrator.
  • New Hire – Michael Herrmann
    On July 12th, we welcomed Michael Herrmann to the Hampton Roads Tenant Services Team as a Building Maintenance Technician at Interstate Corporate Center in Norfolk.
  • Promotion – Catherine Roth
    Catherine Roth has been promoted to Tenant Services Manager.

 

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Commonwealth Commercial Completed Four Transactions this Week

Richmond, VA – July 30, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Jesse S. Feinman dba Pomegranate Press leased 600 SF at 304 East Main Street in the City of Richmond.  Eric Hammond represented the Landlord.
  • All-Star Orthodontics, PLC leased 2,680 SF at 2100 Roux Street in Henrico County.  Tucker Dowdy represented the Tenant.
  • Wegmans Food Markets, Inc. purchased approx. 217.33 acres at Ashcake Road and Sliding Hill Road in Hanover County from Air Park Associates, L.P. for $4,000,000.  Chris Jenkins, Bill Barnett, and Joe Buhrman represented the Seller.
  • Chesterfield County purchased 41.392 acres at 12800 Genito Road in Chesterfield County from Sue Clements and Patsy Stargardt for $4,500,000.  Chris Jenkins and Randy Cosby 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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The Pipeline: Commercial real estate roundup for 7.23.21

Posted on 7/23/2021 by Richmond BizSense

TOP THREE SALES

No. 1: Advanced Properties purchased 62,657 square feet at 4350 Pouncey Tract Road in Henrico for $8.32 million from Colony Lake. Catharine Spangler, Connie Jordan Nielsen and Nicki Jassy with Cushman & Wakefield | Thalhimer represented the seller.

No. 2: Chesterfield County purchased 41.4 acres at 12800 Genito Road in Chesterfield for $4.5 million from Sue Clements and Patsy Stargardt. Chris Jenkins and Randy Cosby with Commonwealth Commercial Partners represented the seller.

No. 3: Peak Performance Global LLC purchased 6,076 square feet at 5300 Patterson Ave. in Richmond for $1.57 million from Atlantic Union Bank. Will McGoogan with Cushman & Wakefield | Thalhimer represented the seller.

TOP THREE LEASES

No. 1: Patriot Aluminum Products leased 52,875 square feet at 13721 Jefferson Davis Highway in Chesterfield. Isaac DeRegibus with Cushman & Wakefield | Thalhimer represented the tenant.

No. 2: Simplisafe leased 16,015 square feet at 4840 Cox Road in Henrico. Brian K. Berkey and Karla Knight with Cushman & Wakefield | Thalhimer represented the tenant.

No. 3: Kensington Glass Arts leased 12,000 square feet at 8504-8506 Sanford Drive in Henrico. Ben Bruni with Commonwealth Commercial Partners represented the tenant.

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