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Commonwealth Commercial Completed Seven Transactions This Week

Posted on September 14, 2018

Richmond, VA – September 14, 2018 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

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, Greensboro NC, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Reading PA, Kansas City MO and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Chickahominy Summerplace is on the market, meaning 160 new homes could come to Jolly Pond Road

Posted on September 13, 2018

Posted on 8/7/2018 by Andrew Harris at WYDAILY

Nestled between the hustle and bustle of Lightfoot and the ever-present rush of the Chickahominy River lies a vast patch of forest on Jolly Pond Road.

The site is known as Chickahominy Summerplace. It is currently a parcel of 924 undeveloped and forested acres along Yarmouth Creek.

A brochure for the property points out that Summerplace has been owned by the 14th president of William & Mary, a former mayor of Newport News and the Hornsby family, some of whom may have lived in a small rustic house. Now its current owners have placed it on the market with the hopes that its future owners will see the property’s potential for residential development.

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Commonwealth Commercial Completed Five Transactions This Week

Posted on August 31, 2018

Richmond, VA – August 31, 2018 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

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, Greensboro NC, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Reading PA, Kansas City MO and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Commonwealth Commercial Hires National Director of Property Management

Posted on August 30, 2018

RICHMOND, Va., Aug. 28, 2018 /PRNewswire/ — Commonwealth Commercial Partners is pleased to announce the hiring of Paul Harnett as Senior Vice President, Director of Property Management. Harnett joins CCP’s leadership team and will oversee the company’s tenant services and growing property management portfolio of over 15 million sq. ft. nationwide.

Harnett will focus on ensuring CCP’s delivery of property management services is consistent across all markets and is functioning at the highest level possible. Other key responsibilities will include oversight of policies and procedures, ensuring quality control, personnel development, and financial management for the division.

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Commonwealth Commercial Completed Four Transactions This Week

Posted on August 24, 2018

Richmond, VA – August 24, 2018 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

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, Greensboro NC, Charlotte NC, Raleigh/Durham NC, Greenville SC, Reading PA, Kansas City MO and Houston TX. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services.

Commonwealth Commercial Hires Managing Director for New South Carolina Office

Posted on August 14, 2018

Richmond, Va.Aug. 13, 2018 /PRNewswire/ — Commonwealth Commercial Partners is pleased to announce the hiring of Matthew Ryan as Managing Director of our newest South Carolina office. Ryan will establish the new office in Charleston, SC and will be responsible for growing the business in the region to include CharlestonMyrtle BeachColumbia, and Greenville, as well as Savannah, GA.

Commonwealth Commercial’s new Charleston office will work in tandem with the company’s Greenville office, established in 2016, which is managed by Alex Crouch.  Crouch also covers the areas of RaleighDurhamGreensboro and Charlotte, NC and has been with the company for 11 years.

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Watkins Centre land in Chesterfield is on the market

Posted on August 7, 2018

Posted on 8/7/2018 by Greg Gilligan at Richmond Times-Dispatch

A large part of the planned Watkins Centre mixed-use development in Chesterfield County is on the market.

Watkins Land LLC has retained Henrico County-based Commonwealth Commercial Partners to market the property for sale or parts for possible lease. The entire property could be sold to a single buyer or it could be sold in sections to developers or in parcels to individual users, Commonwealth Commercial said.

Watkins Centre is a 285-acre tract located at the southwest corner of Midlothian Turnpike and state Route 288.

Adjacent to the property is Bon Secours Westchester Emergency Center, a four-story office building and a 50-bed memory care facility. Across Midlothian Turnpike is Westchester Commons, the retail component of Watkins Centre that includes Regal Cinemas and Target as anchor tenants.

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Generational Development Property, Watkins Centre, Hits The Market

Posted on August 7, 2018

Posted on 8/7/2018 by PR Newswire

RICHMOND, Va.Aug. 6, 2018 /PRNewswire/ — Commonwealth Commercial Partners is pleased to announce the award of brokerage services for Watkins Centre, a 285± acre tract slated for mixed-use development opportunities, located on Route 60, directly southwest of its intersection with Route 288. The property will be represented by a team of brokers to include: Bill BarnettJoe BuhrmanJamie GalantiChris JenkinsMichael MorrisNate Krey, and Eliza Izard.

Owned by Watkins Land, LLC, this tract is an integral part of the larger 786-acre Watkins Centre development, which includes Westchester Commons, across Route 60 from the property, and Bon Secours, PIEtech and The Pearl at Watkins Centre which are directly adjacent to the property. The tract is zoned for a mix of office space, light industrial, medical clinic, a maximum of 450 multi-family residential units, community/neighborhood business uses, and recreational amenities. The intent is to allow the market to create a true mixed-use development, with an appropriate mix of residential, retail and office.

Bill Barnett, Senior Vice President and Partner of Commonwealth Commercial, remarked, “The Watkins Centre community is destined to be the strategic Downtown of Midlothian.  Chesterfield County has just expanded permitted uses to include multifamily, retail/entertainment, hospitality and office in a walkable setting. This presents an exciting opportunity for businesses that may not have considered this area before now. Chesterfield County as a whole will benefit for decades to come.”

Watkins Land is particularly enthusiastic about the relationship with Commonwealth Commercial and their goal of a coordinated plan of development for the balance of Watkins Centre,” commented John Watkins, manager for Watkins Land LLC, which owns Watkins Centre.  “They have a team of professionals that bring experience in all facets of industrial, commercial, retail and entertainment development. This, coupled with the remaining land available and its superior location, makes Watkins Centre the ‘Place To Be’ in Chesterfield County, Virginia.”

Charlottesville-based Castle Development Partners has a portion of the land under contract with plans to construct a $90 million, 450-unit apartment project along Watkins Centre Parkway. “We believe Watkins Centre has enormous potential to become a true mixed-use development with regional employment opportunities, local shops and restaurants, as well as a luxury residential community,” said Andy McGinty, Principal of Castle Development Partners. “The location of the property and the timing of these projects couldn’t be better. We are very excited to be a part of the ongoing growth and development of this submarket.”

This project joins a large pipeline of residential projects proposed in the immediate area, with over 2,000 apartments proposed or under construction in the Midlothian corridor. The growing labor force in the immediate area and the limited office space supply suggests strong fundamentals for new office construction. Coupled with the nearby River City Sportsplex, which hosts national lacrosse, field hockey and soccer tournaments on an annual basis, and the proposed 105-acre waterpark, there is an exceptional opportunity for hospitality and retail as well. Watkins Centre has excellent road frontage to Route 60 and quick access to Route 288, which allows for significant visibility. It is ideally situated in the submarket of Midlothian with the highest per capita income in the Richmond MSA.

For additional information on the proposed development, such as site plans, allowed uses, and up to date project information, visit WatkinsCentreProperty.com.

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 VANashville TNJacksonville FLTampa FLGreensboro NCCharlotte NCRaleigh/Durham NCGreenville SCHouston TXReading PA and Kansas City MO. 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.

SOURCE Commonwealth Commercial Partners

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Canada-based developer buys into Powhatan

Posted on August 2, 2018

Posted on 7/25/2018 by Jonathan Spiers at  Richmond BizSense

A global land development company based in Canada is entering the local market with a deal in Powhatan County that could result in hundreds of new homes.

Calgary-based Walton Global Investments closed Friday on its purchase of a 74-acre tract on the south side of U.S. 60 between the Holly Hills area and Oakbridge Business Park, about a mile west of Windy Hill Sports Complex and Westchester Commons.

The purchase price was $1.15 million, said Randy Cosby, a broker with Commonwealth Commercial who worked the deal with colleague Chris Jenkins.

The transaction had not been recorded with the county assessor’s office as of Tuesday. The latest county assessment valued the land at $926,000, according to Powhatan property records.

Cosby said he has plans for the Powhatan property, and that development could include as many as 300 homes with a variety of types, including townhomes and single-family houses. He said the county’s land-use plan also calls for a commercial component, and the development would include walking trails and parks.

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Commonwealth Commercial Awarded New Property Management Assignment

Posted on August 2, 2018

Richmond, VA – August 2, 2018 – Commonwealth Commercial Partners has been awarded the property management for The Shoppes at College Park.  This 106,000 square foot retail center is located in Farmville, VA.  Kippi Pigsley will manage the asset.

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