RTD Commercial Real Estate Highlights

Posted on 3/21/2022 –RTD Commercial Real Estate Highlights 3.21.22

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

Sam Ashland I, LLC purchased 51.9 acres in the 11000 block of Washington Highway in Hanover for $4.3 million from TAB of Virginia LC. Jim McVey and Joe Buhrman with Commonwealth Commercial Partners represented the seller.

Simmons, Rockecharlie & Prince leased 2,024 square feet at 10150 Staples Mill Road in Henrico. Tucker Dowdy and Michael Good represented the landlord.

K-La Richmond leased 1,960 square feet at 5718 Grove Ave. in Richmond. Jim McVeyMichael Morris and Thomas Lynde 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 MorrisThomas Lynde and Jim McVey represented the seller.

Henrico RE LLC purchased 5,563 square feet at 9003 Quioccasin Road in Henrico County for $850,000 from KTM Properties. Tucker Dowdy and Eric Hammond represented the seller.

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BizSense The Pipeline: Commercial Real Estate Roundup for 3.18.22

Posted on 3/18/2022 –The Pipeline: Commercial real estate roundup for 3.18.22

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

Sam Ashland I, LLC purchased 51.9 acres in the 11000 block of Washington Highway in Hanover for $4.3 million from TAB of Virginia LC. Jim McVey and Joe Buhrman with Commonwealth Commercial Partners represented the seller.

Simmons, Rockecharlie & Prince leased 2,024 square feet at 10150 Staples Mill Road in Henrico. Tucker Dowdy and Michael Good represented the landlord.

K-La Richmond leased 1,960 square feet at 5718 Grove Ave. in Richmond. Jim McVeyMichael Morris and Thomas Lynde 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 MorrisThomas Lynde and Jim McVey represented the seller.

Henrico RE LLC purchased 5,563 square feet at 9003 Quioccasin Road in Henrico County for $850,000 from KTM Properties. Tucker Dowdy and Eric Hammond represented the seller.

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BizSense The Pipeline: Commercial Real Estate Roundup for 2.25.22

Posted on 2/25/2022 –The Pipeline: Commercial real estate roundup for 2.25.22

Commonwealth Commercial Partners reports the following transaction:

The Sherwin-Williams Co. leased 5,639 square feet at 4918 W. Broad St. in Henrico County. Russell Wyatt and Michael Morris with Commonwealth Commercial Partners represented the landlord.

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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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Menswear shop Beecroft & Bull tries Libbie-Grove location on for size

After nearly two decades in the River Road area, a men’s clothing store is picking up where a longtime women’s apparel shop left off in the Libbie-Grove retail corridor.

In the spring, Beecroft & Bull plans to relocate to 5712 Grove Ave. from its current location at River Road Shopping Center II at 5029 Huguenot Road.

Craig Beecroft

At about 2,400 square feet, the Grove Avenue spot, which was formerly home to La Grande Dame, is slightly smaller than Beecroft & Bull’s current location. But owner Craig Beecroft said that after about 20 years on Huguenot, it was time for a change.

“When the space became available, we gave it serious consideration and pulled the trigger,” he said of the Grove Avenue storefront. “We’re looking to expand our customer base and introduce ourselves to different people.”

The move to an area with high foot traffic is an attempt to replicate success the company found when it shook things up with the relocation of its Virginia Beach outpost from the Oceanfront to the Hilltop North Shopping Center.

Craig’s father Moss Beecroft and Charles Bull opened the company’s first store in Newport News in 1958, according to a Virginian-Pilot report. The company is headquartered in that city today, though the store has since closed.

The company previously had stores in Norfolk and Williamsburg as well, according to an online obituary for Moss Beecroft, who died in 2020.

Beecroft & Bull opened its first Richmond store in Shockoe Slip in the 1980s. It moved that outpost to Huguenot Road in 2003.

It also had a Charlottesville location for 25 years, before closing that store in 2021.

Beecroft & Bull sells men’s clothing. (Photo courtesy of Beecroft & Bull)

Beecroft said a combination of factors including the pandemic led to the closure, though he would be open to making a return to the Charlottesville market.

“The pandemic definitely had an effect. Our lease was up and, no offense to Charlottesville, but that town was a lot more closed down than Virginia Beach or Richmond,” he said. “I was sad to see it close but it was going to allow us to focus on our two strongest markets.”

Beecroft plans to renovate the Grove space and has tapped Charlottesville-based Formwork to be the project architect and Conquest, Moncure and Dunn as the general contractor. Both firms were involved in the buildout of the Huguenot space. He didn’t share a budget for the project.

The shop will be one of several menswear competitors in the Libbie-Grove area, joining Alton Lane and Peter-Blair Accessories.

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Commonwealth Commercial Completed Seven Transactions this Week

Richmond, VA – December 10, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Dr. Kim Byerly renewed the 995 SF lease at 5101 Cleveland Street in Virginia Beach. Gresh Wall represented the Landlord.
  • JTWdesign, LLC leased 2,020 SF at 15 S. Auburn Avenue in the City of Richmond. Tucker Dowdy and Russell Wyatt represented the Landlord.
  • Consolidated Planning, Inc. leased 732 SF at 12540 Patterson Avenue in Goochland County. Tucker Dowdy and Russell Wyatt represented the Tenant.
  • Brick and Mortar Mercantile leased 5,142 SF at 3114 W. Cary Street in the City of Richmond. Jim McVey, Michael Morris and Thomas Lynde represented the Landlord.
  • DAPSYN Inc. leased 1,809 SF at 1503 Santa Rosa Road in Henrico County. Eric Hammond represented the Landlord.
  • Ericka J Fitness leased 2,500 SF at 903 E. Laburnum Avenue in Henrico County. Jamie Galanti and Ben Boykin represented the Tenant.
  • ME Namflow, LLC purchased 8,973 SF at 5780 Hull Street Road in the City of Richmond from Parsons & May, LLC for $700,000. Ben Bruni 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, 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 Eleven Transactions this Week

Richmond, VA – November 19, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Featherstone Partners, LLC leased 2,722 SF at 1321 Laskin Road in Virginia Beach.  Gresh Wall represented the Tenant.
  • Smith & Nephew Inc. renewed 1,848 SF at 413 Stuart Circle in the City of Richmond.  Eric Hammond and Michael Good represented the Landlord.
  • MRC Global (US) Inc. leased 40,000 SF at 8310 Shell Road in Chesterfield County.  David Williams and Ben Bruni represented the Landlord.
  • Upside to Youth Development LLC leased 3,375 SF at 9401 Courthouse Road in Chesterfield County.  Tucker Dowdy and Jamie Galanti represented the Landlord.
  • Sunshine Anderson leased 1,250 SF at 1390 Broad Street in Goochland County.  Ben Bruni and Carl Blackwell represented the Landlord.
  • Carpenter Co. leased 3,211 SF at 5020 Monument Avenue in Henrico County.  Erc Hammond and Tucker Dowdy represented the Landlord.
  • Hanover Habitat for Humanity leased 13,032 SF at 7193, 7199 and 7211 Stonewall Parkway in Hanover County.  Eric Hammond represented the Tenant.
  • Code 1 Training Soutions, LLC leased 184 SF at 413 Stuart Circle in the City of Richmond.  Eric Hammond and Michael Good represented the Landlord.
  • Parkway Acquisitions purchased .7154 acres at 101 W. Grace St., 115 N. Foushee St. , 3 and 9 E. Grace St. in the City of Richmond from Jim’s Family Corp. for $2,875,000.  Michael Morris and Jim McVey represented the Purchaser.
  • Marwaha Sarup Singh, LLC purchased 38,000 SF at 2500 & 2505 Pocoshock Place in Chesterfield County from Sanadeema LLC for $2,400,000.  Tucker Dowdy represented the Seller.
  • Hanover Habitat for Humanity leased 13,032 SF at 7193, 7199 and 7211 Stonewall Parkway in Hanover County.  Eric Hammond represented the Tenant.

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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Philly firm snaps up more parking lots in $2.9M Monroe Ward deal

Posted on 11/16/2021 by Michael Schwartz at Richmond BizSense

Parkway Corp. can’t seem to get enough downtown parking lots.

The Philadelphia-based parking and real estate development firm last week snatched up another set of parcels in Richmond, this time two surface lots in Monroe Ward.

The company paid $2.87 million for a half-acre made up of adjoining parcels at 115 N. Foushee St., 3 E. Grace St. and 9 E. Grace St., as well as the nearby lot at 101 W. Grace St., which is less than a quarter-acre.

The seller was longtime Richmond-based Jim’s Family Parking. The parcels were most recently assessed at a combined $1.2 million.

It’s the latest local deal for Parkway, which since 2016 has spent more than $7 million on lots in Jackson Ward and Monroe Ward.

In 2016 it paid $2 million for a 0.75-acre surface parking lot at 200 E. Marshall St., where it has since partnered with locally-based SNP Properties to propose a 12-story mixed-use building. That project is still in the planning stages.

In 2019, its paid $2.3 million for a nearly 1-acre assemblage bordered by East Marshall, North 2nd and East Clay streets in Jackson Ward.

Continue reading the full article

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Carytown to get a new bagel shop

Posted on 10/04/2021 by Mike Platania at Richmond BizSense

Another bagel shop is rolling into the city, this time in Carytown.

Chewy’s Bagels, which has been a pop-up shop and wholesaler since its launch in 2019, is preparing to open at 3138 W. Cary St. in Cary Court.

Ashley Cricchio, a Maine native and VCU alum, started Chewy’s two years ago, selling her sourdough bagels initially at Outpost Richmond in Forest Hill.

She expanded to selling wholesale to local markets like Union Market, Little House Green Grocery and Ellwood Thompson’s. In the spring she moved into commissary kitchen and food business incubator Hatch Kitchen in South Richmond, while keeping the idea of her own shop in the back of her mind.

“I had known that I was going to start outgrowing Hatch soon after I moved into one of their rooms. I’ve been feeling kind of the pressure of growth since moving in in the spring,” Cricchio said.

“Making bagels is really equipment-intensive and labor-intensive,” she said. “I was willing to make it work until the right place came along.”

Continue reading the full article

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Commonwealth Commercial Completed Six Transactions this Week

Richmond, VA – October 1, 2021 – Commonwealth Commercial Partners, LLC is pleased to report this week’s completed transactions.

  • Lucky Dog Pet Spaw, LLC leased 1,082 SF at 11950 Iron Bridge Road in Chesterfield County.  Jim McVey, Michael Morris and Thomas Lynde represented the Landlord.
  • Chewy’s Bagels LLC leased 2,363 SF at 3138 W. Cary Street in the City of Richmond.  Jim McVey, Thomas Lynde and Michael Morris represented the Landlord.
  • Emmett L. Jones dba Emmett L. Jones, Ph.D & Associates leased 1,694 SF at 2819 N. Parham Road in Henrico County.  Eric Hammond and Michael Good represented the Landlord.
  • Elite Clubs National League, Inc. leased 7,188 SF at 9830 Mayland Drive in Henrico County.  Ben Bruni and Russell Wyatt represented the Landlord.
  • L.F. Jennings, Inc. leased 4,281 SF at 2000 W. Marshall Street in the City of Richmond.  Tucker Dowdy and Russell Wyatt represented the Landlord.
  • Riverfront Investment Group, LLC leased 3,500 SF at 1208-1212 East Cary Street in the City of Richmond.  Eliza Izard and Eric Hammond 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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