47 mixed-use parcels in Richmond sell for almost $22M

Posted on 12/21/2021 by Katherine Schulte at Virginia Business

Seven bundles of properties totaling 47 parcels in Richmond sold for almost $22 million, Commonwealth Commercial Partners LLP announced last week.

The mixed-use properties are located in Richmond’s Fan District and consist of retail, office and restaurant space, as well as about 24 apartments and 267 parking spaces.

Richmond-based Eck Enterprises LLC sold the properties to Charlotte, North Carolina-based Carolina Capital Real Estate Partners. Kit Tyler, senior vice president at CCP, and Tucker “Nash” Warren, senior associate at CCP, represented the seller in the three-contract sale that closed Dec. 15.

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Upper Shirley Vineyards chef cooks up neighborhood market in Tuckahoe

Posted on 8/24/2021 by Jacks Jacobs at Richmond BizSense

A new market is on the menu for Tuckahoe Shopping Center.

Supper Club, a new neighborhood market concept, is aiming to open in late fall at 417 N. Ridge Road, carving out 2,800 square feet of the space that was formerly the Impulse consignment store.

Supper Club joins Providence Hill Real Estate, which is planning to move into the other half of the storefront.

The market will feature prepared meals, butcher-cut meats, local produce, groceries and other retail food items.

Impressed with market concepts like Stella’s Grocery and Libbie Market, Supper Club co-founder Carlisle Bannister said he saw a gap of similar offerings in the Tuckahoe area he wanted to fill.

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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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Developers pay $12.5M for Lacy’s 3.3-acre tract on Arthur Ashe Blvd.

Posted on 7/14/2021 by Mike Platania at Richmond BizSense

A new high mark has been set for land on a per-acre basis in the Scott’s Addition area.

The 3.3-acre assemblage at 1117-1209 N. Arthur Ashe Blvd. sold earlier this week for $12.5 million, city records show.

The buying entities are tied to D.C.-based Level 2 Development and SJG Properties, who are planning a major mixed-use project for the site. The seller in the deal was local investor Ed Lacy, who’d owned many of the parcels for decades.

At about $3.8 million per acre, the deal marks the highest sales price on a per-acre basis in the neighborhood in recent memory.

The previous high mark for the land in and around Scott’s Addition was $3.6 million per acre, set last year by South Carolina’s Greystar when it bought a whole city block at 1601 Roseneath Road. It paid $8.6 million for the site, where it’s planning a 350-unit mixed-use project with locally-based Capital Square.

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Beehives on downtown office buildings sweet for corporate teambuilding

Posted on 7/6/2021 by Noah Daboul at Richmond BizSense

Downtown office buildings have been far quieter than normal over the last 18 months. But since November, the SunTrust Center has remained abuzz with worker bees of a different sort.

Raleigh-based Bee Downtown, which installs and maintains beehives on corporate campuses, expanded into Richmond from North Carolina with its first hives in Virginia atop the 26-story building at 919 E. Main St.

Bee Downtown CEO Leigh-Kathryn Bonner said the result is two hives containing about 30,000 bees each, aimed in part at helping Mother Nature and in part at corporate teambuilding.

“While we are putting the hives on the campuses — and it is very much a sustainability initiative — what we do throughout the year is we have employees going through interactive experiences,” said Bonner.

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Commonwealth Commercial Completed Nine Transactions this Week

Richmond, VA – May 14, 2021 – Commonwealth Commercial Partners, LLC is pleased to report last week’s completed transactions.

  • Wild Card Services, Inc. leased 1,500 SF at 11424 Air Park Road in Hanover County. Thomas Lynde, Ben Bruni and Jim McVey represented the Landlord.
  • The Davey Tree Expert Company leased 393 SF at 201 N. Washington Highway in Hanover County.  Eric Hammond represented the Landlord.
  • Caza Jalisco, Inc. leased 3,100 SF at 13547 Waterford Place in Chesterfield County.  Jim McVey represented the Tenant and Michael Morris represented the Landlord.
  • DSM Virginia Properties, LLC purchased 4,338 SF at 1511 Brook Road in the City of Richmond from Lyons Properties, LLC for $590,000.  Ben Bruni and Russell Wyatt represented the Purchaser.
  • Glass America leased 3,000 SF at 10199 Maple Leaf Court in Hanjover County.  Colton Konvicka represented the Tenant.
  • Dr. Kenneth Qiu dba Eudoc PLLC leased 1,204 SF at 1520 Huguenot Road in Chesterfield County.  Tucker Dowdy represented the Tenant.
  • Dominick Attilano dba Freetom Prosthetics leased 1,552 SF at 1321-1/2 East Main Street in the City of Richmond.  Eric Hammond represented the Landlord.
  • Cullop’s Import, Inc. renewed its 2,186 SF lease at 11002-H West Broad Street in Henrico County.  Jim McVey represented the Landlord.
  • Caza Jalisco, Inc. leased 3,100 SF at 13547 Waterford Place in Chesterfield County.  Jim McVey represented the Tenant and Michael Morris 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 Six Transactions this Week

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

  • #1 A LifeSafer Distribution, Inc. leased 2,194 SF at 2600 E. Parham Road in Henrico County.  Chip Louthan represented the Landlord.
  • Hurricane Fence Co. leased 1,896 SF at 1108 Dinneen Street in the City of Richmond.  Colton Konvicka and Ben Bruni represented the Tenant.
  • Aptive Environmental, Inc. leased 1,784 SF at 6290 Old Warwick Road in the City of Richmond.  Colton Konvicka and Ryan Fanelli represented the Landlord.
  • Galleria Partners of Lynchburg, LLC purchased 24,000 SF at 915 W. Main Street in Lynchburg from Lynchburg Community Action Group for $750,000.  Carl Blackwell represented the Purchaser.
  • Cebelle Holdings Corporation purchased 5.542 acres at 10985 Leadbetter Road in Hanover County from Leadbetter Property & Development, Inc. for $888,000.  David Williams represented the Purchaser.
  • Madjesty, LLC purchased 1,500 SF at 112 Midpoint Drive in Goochland County from Crozier Land Company, LLC for $92,000.  Ben Bruni 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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BUILD-TO-SUIT FLEX BUILDINGS SLATED FOR HANOVER INDUSTRIAL AIR PARK

Richmond, VA – Commonwealth Commercial Partners, LLC is pleased to have facilitated the sale of 5.542± acres at 10985 Leadbetter Road in Hanover County. David Williams of Commonwealth Commercial represented the purchaser, Cebelle Holdings. The owner plans to develop build-to-suit buildings ranging from 12,000-60,000± SF.

Colton Konvicka and David Williams will be handling the pre-leasing of this recently purchased site. It is one of the last flex/industrial developable sites left in the Hanover Industrial Airpark. Some buildings will also have outside storage possibilities which is a rare feature for the area. Additionally, the site is highly visible on the main entrance road into Hanover Industrial Airpark.

Learn more at: https://commonwealthcommercial.com/property/10985-leadbetter-road/

 

*This image is for representational purposes only*

 

 

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, 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.

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INDUSTRIAL CASE STUDY | RAW LAND TO INVESTMENT SALE | 2405 GRANITE RIDGE ROAD | ROCKVILLE, VA 23146

THE DEAL
›› Worked with the developer through all aspects of the project from land acquisition to investment sale
›› Negotiated purchase of raw land
›› Assisted developer with identifying the appropriate engineers and architects
›› Consulted with engineers and architects to recommend site plan and building characteristics that are desirable in the market place to achieve high rental rates
›› Executed leasing marketing plan
›› Identified out of town investor to sell “off market”
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THE HURDLES
›› Took an undeveloped site into a fully leased portfolio
›› Speculative development, understanding the leasing market to build a product that is highly desirable
›› Negotiated and closed an investment sale in 2020 during the COVID-19 pandemic
⠀⠀⠀
RESULTS
›› Pre-leased the entire three building portfolio before construction was complete
›› Sold the three building (22,000 SF) portfolio for $3,050,000 “off market” to achieve the highest industrial price per square foot sale in Goochland County
⠀⠀⠀
Call Ben at 804-793-0046 for more information
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Commonwealth Commercial Completed Seven Transactions Last Week

Richmond, VA – April 5, 2021 – Commonwealth Commercial Partners, LLC is pleased to report last week’s completed transactions.

  • LaQuita McCrae leased 1,156 SF at 2825 S. Crater Road in the City of Petersburg.  Eric Hammond represented the Landlord.
  • Virginia Financial Center leased 1,724 SF at 9401 Courthouse Road in Chesterfield County.  Tucker Dowdy and Jamie Galanti represented the Landlord.
  • Glass Doctor leased 2,269 SF at 11010 W. Broad Street in Henrico County.  Jim McVey represented the Landlord.
  • Virginia Interactive, LLC leased 7,200 SF at 2022 W. Broad Street in the City of Richmond.  Tucker Dowdy and Russell Wyatt represented the Landlord.
  • MBS Productions Services, LLC leased 12,500 SF at 1800 W. Marshall Street in the City of Richmond.  Ben Bruni and Russell Wyatt represented the Landlord
  • Atkinson Investment, LLC purchased 4,434 SF at 6039 Mechanicsville Turnpike in Hanover County from Nighthawk Properties, LLC for $325,000.  Eric Hammond and Tucker Dowdy represented the Seller.
  • Adana Investments, LLC purchased 25.927 acres at 8501 Courthouse Road in Chesterfield County from Virginia Tech Foundation, Inc. for $60,000.  Chris Jenkins and Bill Barnett 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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