Five-building industrial portfolio sells for $9M

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Posted on 10/01/2021 by Katherine Schulte at Virginia Business

A five-building industrial portfolio with buildings in Harrisonburg, Chesterfield County, Newport News, Virginia Beach and Durham, North Carolina, sold for just over $9 million Thursday, Glen Allen-based commercial real estate firm Commonwealth Commercial Partners LLC (CCP) announced.

ESAP LLC sold the portfolio to Drakadia Holdings LLC, a business entity registered to an eastern Henrico County address occupied by QTS, a data center company with a large presence in the state. QTS opened a 1.3 billion-square-foot data center in White Oak Technology Park near Richmond International Airport, where the company established an access point for three subsea fiber-optic telecommunications cables that come ashore in Virginia Beach and connect data networks in the U.S., Europe and South America.

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Eck family lists 158 properties in the Fan as it exits real estate market

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Posted on 9/30/2021 by Mike Platania at Richmond BizSense

Decades after its late patriarch helped transform the Fan into what it is today, the Eck family is preparing to hand off its extensive portfolio in the neighborhood to a new owner.

The majority of Eck Enterprises’ portfolio of over 150 properties in the Fan is under contract to be sold. Many of the parcels, which include retail, multi-family residential and mixed-use buildings, line West Cary and Main streets near VCU’s Monroe Park campus.

The Eck family, through a spokesperson, said in a statement that they’ve decided to exit the real estate business and declined to comment further.

The offering hit the market earlier this month, with Commonwealth Commercial’s Kit Tyler and Nash Warren handling the listing. Tyler confirmed that over 90 percent of the Eck portfolio is under contract to an undisclosed buyer.

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Commonwealth Commercial Completed Five Transactions this Week

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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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Commonwealth Commercial Completed Four Transactions this Week

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Richmond, VA – July 2, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Amurcon Realty Company leased 6,170 SF at 919 E. Main Street in the City of Richmond.  Jamie Galanti, Russell Wyatt and Eliza Izard represented the Landlord.
  • Counts, LTD dba Counts Hallmark Shop #17 leased 4,440 SF at 7225 Bell Creek Road in Hanover County.  Morgan Trible and Jim McVey represented the Landlord.
  • 1600 West Broad Street, LLC leased 1,620 SF at 1127 W. Main Street in the City of Richmond.  Tucker “Nash” Warren and Kit Tyler represented the Landlord.
  • Connor’s Heroes Foundation subleased 1,489 SF at 1840 W. Broad Street in the City of Richmond.  Tucker Dowdy and Russell Wyatt represented the Sublandlord.

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 Six Transactions this Week

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Richmond, VA – May 7, 2021 – Commonwealth Commercial Partners, LLC is pleased to report last week’s completed transactions.

  • Tycon Medical Systems, Inc. leased 3,279 SF at 2034 Dabney Road in the City of Richmond.  David Williams & Colton Konvicka represented the Landlord and Eliza Izard & Ben Bruni represented the Tenant.
  • Two Compadres Taqueria Bar & Grill, Inc. leased 1,159 SF at 13826 Village Place Drive in Chesterfield County.  Thomas Lynde, Jim McVey and Michael Morris represented the Landlord.
  • Chesterfield Fencing and More, LLC leased 4,692 SF at 710 Perry Street in the City of Richmond.  Tucker “Nash” Warren and Kit Tyler represented the Landlord.
  • Virginia Agribusiness Council leased 1,509 SF at 9323 Midlothian Turnpike in Chesterfield County.  Eliza Izard represented the Tenant.
  • Tulips Periodontics & Dental Implants leased 1,698 SF at 5921 Harbour Lane in Chesterfield County.  Thomas Lynde and Tucker Dowdy represented the Tenant.
  • ProSource Professional Cleaning Services leased 1,426 SF at 6290 Old Warwick Road in the City of Richmond.  Colton Konvicka and Ryan Fanelli 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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Manchester may, at long last, be getting a grocery store

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Posted on 11/30/2020 by Mike Platania at Richmond BizSense

With a planned high-rise apartment and commercial project as the lure, Manchester could finally get its chance to hook a neighborhood grocery store.

A new mixed-use development expected to stand 12-16 stories is in the works at 201 W. Commerce Road, on a roughly 1-acre plot owned by Brent Graves, a former owner of Taylor & Parrish Construction.

While still in the planning stages, the project would look to house 250 apartments and about 25,000 square feet of ground-floor commercial space.

For that commercial space, Graves said his group has been in discussions with a couple grocery store tenants, though nothing’s been finalized. If he is able to bag one, he said it’ll help guide the rest of the project’s design.

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Kit Tyler: A deal maker, a mentor and ‘one of the most recognizable people’ in Richmond’s commercial real estate industry

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Posted on 11/21/2020 by Carol Hazard at Richmond Times-Dispatch

Catlin E. “Kit” Tyler Jr. is known in commercial real estate circles as a deal maker — hard working, energetic and focused.

He’s also a mentor, whether it’s helping people in the industry or others in need of an uplifting Christian message.

“He is an inspiration to all who have worked with him over the years, especially the younger pros who were looking for broker best practices on how to conduct themselves and be successful in the business,” said Scott White, a broker with Pollard & Bagby Inc., a residential and commercial brokerage in Richmond.

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Commonwealth Commercial Completed Six Transactions this Week

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Richmond, VA – October 16, 2020 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Critzer-Cardani, PC leased 3,050 SF at 12090 West Broad Street in Henrico County.  Nash Warren and Kit Tyler represented the Landlord.
  • Sunshine Cline, Inc. dba Rage RVA leased 5,245 SF at 2403 W. Main Street in the City of Richmond.  Ben Bruni and Russell Wyatt represent the Landlord.
  • Qui Thi Nguyen leased 900 SF at 13541 Midlothian Turnpike in Chesterfield County.  Michael Morris represented the Landlord.
  • American Freight, LLC leased 24,500 SF at 3316 Riverside Drive in Danville.  Carl Blackwell represented the Landlord.
  • The Bakery Studios, LLC purchased 12,042 SF at 1710 Altamont Avenue in the City of Richmond from Sound of Music Properties LLC for $1,175,000.  Ben Bruni and Carl Blackwell represented the Seller.
  • Starbucks Coffee Company leased 3,844 SF at 1309 Hershberger Road in Roanoke, VA. Michael Morris and Jim McVey 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 Seven Transactions this Week

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Richmond, VA – August 7, 2020 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Achilles Foot and Ankle Center, Inc. leased 3,500 SF at 7493 Right Flank Road in Hanover County.  Tucker Dowdy represented the Tenant and Russell Wyatt represented the Landlord.
  • Addus Healthcare, Inc. leased 2,500 SF at 1924 Tappahannock Boulevard in Essex County.  Eric Hammond represented the Tenant.
  • Speech-Language Connection, LLC leased 950 SF at 6740 Forest Hill Avenue in the City of Richmond.  Eric Hammond and Tucker Dowdy represented the Landlord.
  • Japanese Classics, LLC purchased 41,554 SF on 2.77 acres at 2602 Deepwater Terminal Road in the City of Richmond from DT 2017, LLC for $2,138,000.  Ben Bruni and Russell Wyatt represented the Seller.
  • Capital Area Health Network purchased 1.5 acres at 101 Cowardin Avenue in the City of Richmond from Laburnum Properties, Inc. for $775,000.  Kit Tyler represented the Purchaser.
  • Capital Area Health Network purchased 36,983 SF at 101 Cowardin Avenue in the City of Richmond from Manchester Realty, LC for $1,975,000.  Kit Tyler represented the Seller.
  • Jad J. Babik purchased 5.7 acres at 3717 Mountain Road in Henrico County from Heritage Properties R.E., LLC for $370,000.  Sam Worley and Ryan Fanelli 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, 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.

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Commonwealth Commercial Completed Four Transactions this Week

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Richmond, VA – May 22, 2020 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Sweetie Boy Home Delivery, LLC leased 3,600 SF at 16007 Continental Boulevard in Chesterfield County. Ben Bruni and Colton Konvicka represented the Landlord.
  • Virginia School of Technology, Inc. leased 46,853 SF at 2000 Westmoreland Street in Henrico County. Tucker Dowdy and Jamie Galanti represented the Landlord.
  • SMN Square Inc. dba Precise Business leased 4,692 SF at 710 Perry Street in the City of Richmond. Kit Tyler and Tucker Warren represented the Landlord.
  • Fauver Avenue Partners, LLC purchased 12,582 SF on 2.3 Acres at 1503-1505 Fauver Ave. and 8792 Old Mountain Road in Henrico County from Mountainbrook Properties, LLC/K&S Properties, LLC for $950,000. Ben Bruni and Colton Konvicka represented the Purchaser.

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.

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