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Commonwealth Commercial Completed Two Transactions this Week

Posted on January 24, 2020

Richmond, VA – September 20, 2019 – 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, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston 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.

Commonwealth Commercial Completed Five Transactions this Week

Posted on January 22, 2020

Richmond, VA – September 20, 2019 – 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, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Reading PA, 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.

Commonwealth Commercial Completed Six Transactions this Week

Posted on January 17, 2020

Richmond, VA – January 17, 2019 – 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, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Kansas City MO, Minneapolis MN, Columbus OH, 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 Completed Four Transactions this Week

Posted on January 10, 2020

Richmond, VA – January 10, 2019 – 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, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Reading PA, Kansas City MO, Minneapolis MN, Columbus OH, 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 Partners Awarded Property and Asset Management of Parkway Place

Posted on December 23, 2019

Jacksonville, FL – December 19, 2019 – Commonwealth Commercial Partners (“CCP”), a Richmond, Virginia-based comprehensive property solutions firm, is pleased to announce it has been awarded the property and asset management of Parkway Place, two single-story office buildings at 6680 & 6700 Southpoint Parkway in the Southside submarket of Jacksonville.

The property was recently purchased by The Runnymede Corporation (“Runnymede”), a family owned commercial real estate investment, development and management company headquartered in Virginia Beach, Virginia, from undisclosed seller represented by Newmark Knight Frank, in conjunction with Newmark Phoenix Realty Group. Permanent financing for the property was arranged by TowneBank. The two buildings on the property comprise 102,960 SF and are 100% leased to four tenants in rail transportation, automotive technology, education and service industries.

Parkway Place is strategically located in the booming Southside of Jacksonville, boasting easy access to I-95, I-295, and Route 202, as well as an amenity-rich suburban environment that offers employees, residents and visitors an abundance of high-end retail, entertainment and food options within minutes.

“We are pleased to be expanding our company’s relationship with Runnymede, and to continue to provide our best-in-class property and asset management services to our clients at this property,” said Scott Holman, Managing Director for CCP in Florida.

“Commonwealth Commercial continues to present us with outstanding suburban office investment opportunities,” said F. Gresham Wall, III, Director of Leasing & Business Development for the Runnymede Corporation.  “We are very excited about our expansion into the Jacksonville market and our ability to partner with such a seasoned and experienced asset management team. This is our second acquisition in two months, and we could not have made it happen without their local experience, knowledge, and dedicated management team.”

CCP manages several properties in the surrounding area, including Enterprise Park, Belfort Crossing, 8800 Baymeadows Way, and Riverplace Tower.

 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, Charleston SC, Greenville SC, Kansas City MO, St. Louis MO, Houston TX, Reading PA, and Minneapolis MN. 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.

About The Runnymede Corporation

Established in Norfolk, Virginia, The Runnymede Corporation is a commercial real estate development and management firm with a diverse real estate portfolio that includes class A office buildings, multi-family properties, self-storage facilities, office/warehouse, shopping centers, mixed use projects and light industrial.  To learn more, visit www.trcva.com.

LINGERFELT COMMONWEALTH ACQUIRES OFFICE TOWER IN COLUMBUS, OHIO, COMMONWEALTH COMMERCIAL OPENS 15TH NATIONAL OFFICE

Posted on December 23, 2019

Richmond, VA —  December 23, 2019  — Lingerfelt CommonWealth Partners, LLC, a Richmond, Virginia-based commercial real estate investment firm, today announced the acquisition of 100 East Broad Street, a 308,337 square foot, 24 story office tower in downtown Columbus, Ohio.

The tower, also referred to as Chase Tower after one of its prominent tenants, JP Morgan Chase, is located in the heart of downtown Columbus across from Capitol Square.  Chase Tower is currently 60% occupied and presents a significant repositioning opportunity in a market that has historically experienced office occupancies above 90%.  Lingerfelt CommonWealth plans to immediately implement a multi-million dollar renovation to the tower, including full elevator modernization, a first-class tenant amenity package, main lobby renovations, new HVAC mechanical equipment, and numerous other significant upgrades to building equipment.

“The opportunity to reposition an asset like Chase Tower, in a market like Columbus, aligns perfectly with our strategy of value investing in real estate markets with improving economic fundamentals,” said Ryan Lingerfelt, President and CIO of Lingerfelt Commonwealth Partners.  “By providing comprehensive building-wide renovations, addressing aging equipment, and securing a long-term parking solution for the building tenants and their customers, we will have positioned Chase Tower to be a leader in downtown Columbus.”

As the 14th largest metro in the United States, Columbus is now first among the Midwest’s 10 largest metros for population, job and GDP growth.  “Annually, there are over 22,000 graduates from the various colleges and universities in Columbus and the city has figured out a way to keep them local,” said Lingerfelt.  “And with population and job growth comes a demand for multi-family developments.  There are over 1,500 multi-family units under construction and 2,500 proposed multi-family units, all within a 1 mile radius of Chase Tower.”

Lingerfelt CommonWealth will own the tower via its vertically integrated investment platform. Commonwealth Commercial Partners, the Company’s affiliated commercial real estate operating firm, will handle all aspects of the day-to-day asset and property management for Chase Tower, opening the firm’s 15th national office. Commonwealth Commercial will continue to grow its platform and will manage assets for real estate owners across the greater Ohio region.

“We’re excited to expand our footprint throughout the Ohio region,” said Ken Strickler, President of Commonwealth Commercial Partners.  “Chase Tower represents a unique repositioning opportunity and we look forward to growing our platforms and serving the local community.”

Financing for the acquisition of the office tower was arranged by Atlantic Real Estate Capital.

ABOUT LINGERFELT COMMONWEALTH PARTNERS

Lingerfelt CommonWealth Partners, headquartered in Richmond, VA, is a vertically integrated, full service real estate investment management firm with additional offices Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Houston TX, Kansas City MO, St. Louis, MO, Reading PA, and Minneapolis MN. Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast. Learn more at www.lingerfeltcommonwealth.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 VA, Nashville TN, Jacksonville FL, Tampa FL,  Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Kansas City MO, St. Louis MO, Houston TX, Reading PA and Minneapolis MN. 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.

Commonwealth Commercial Completed Four Transactions this Week

Posted on December 20, 2019

Richmond, VA – December 20, 2019 – 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, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Reading PA, 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.

Commonwealth Commercial Completed Five Transactions this Week

Posted on December 12, 2019

Richmond, VA – December 13, 2019 – 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, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Reading PA, 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.

Commonwealth Commercial Completed Five Transactions this Week

Posted on December 12, 2019

Richmond, VA – December 13, 2019 – 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, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Reading PA, 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.

Commonwealth Commercial Partners Awarded Property and Asset Management of Carolina Corporate Centre

Posted on December 9, 2019

Raleigh, NC – December 2, 2019 – Commonwealth Commercial Partners (“CCP”), a Richmond, Virginia-based comprehensive property solutions firm, is pleased to announce it has been awarded the property and asset management of the Carolina Corporate Centre, a newly renovated Class A office building at 5400 Glenwood Avenue, located in the Raleigh-Durham-Chapel Hill area known as the “Triangle.” The property was recently sold by The Simpson Organization and purchased by The Runnymede Corporation (“Runnymede”), a family owned commercial real estate investment, development and management company headquartered in Virginia Beach, Virginia. David Finger and Sara Owen of Cushman Wakefield represented the seller and Towne Bank provided financing.

Centrally located along Glenwood Avenue, between the inner and outer beltlines of Raleigh, the Carolina Corporate Centre is 5 floors and 91,709 RSF. The recently renovated common areas and onsite amenity package for tenants includes new furniture, a fitness center, locker rooms, conference center, and a tenant lounge with upscale vending.

“We are thrilled to be expanding our company’s relationship with Runnymede, and to bring our best-in-class property and asset management services to our clients at this property,” said Alex Crouch, Managing Director for CCP in North and South Carolina. “We look forward to a successful partnership, as well as the opportunity to increase our footprint in the Triangle, where office space continues to generate a high level of interest from investors.”

“The acquisition of this property is the beginning of a concerted initiative for Runnymede to expand our portfolio into several regions across the southeast, including Richmond, Raleigh, Charlotte, Nashville, and Northern Florida,” said F. Gresham Wall, III, Director of Leasing & Business Development for the Runnymede Corporation. “We are fortunate to have partnered with CCP, who already manages a significant number of properties in these markets.”

Carolina Corporate Centre is 95% leased, with larger tenants including McAngus Goudelock and Courie, LLC, CDM Smith, and Set & Service Resources, LLC. CBRE’s John Brewer, Brian Carr, and Hastings Crockard have been hired for leasing services.

CCP manages several properties in the surrounding area, including The Concourse Building, Park 40 Plaza, North Park I & II, and Centerview II.

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, Charleston SC, Greenville SC, Kansas City MO, St. Louis MO, Houston TX, Reading PA, and Minneapolis MN. 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.

About The Runnymede Corporation

Established in Norfolk, Virginia, The Runnymede Corporation is a commercial real estate development and management firm with a diverse real estate portfolio that includes class A office buildings, multi-family properties, self-storage facilities, office/warehouse, shopping centers, mixed use projects and light industrial. To learn more, visit www.trcva.com.

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