Va. Beach company partners with Commonwealth Commercial Partners
Commonwealth Commercial Partners LLC, a commercial real estate firm based in Richmond, has reached an agreement with CCP Commercial Real Estate to assume asset and property management responsibilities for CCP’s growing real estate portfolio.
The portfolio of the Virginia Beach-based company consists of about 2.5 million square feet of Class A office and industrial projects in the mid-Atlantic and Southeastern U.S.
“We have developed a strong relationship with CCP, and we are delighted to grow with them in both new and existing markets,” Ken Strickler, president of Commonwealth Commercial, said in a statement. “Their growth trajectory has been impressive, and we are excited to go to work in executing the business plan for the expanding portfolio.”
The CCP portfolio contains 31 buildings located in several markets including Reading, Pa., (near Philadelphia); Virginia Beach, Nashville, Tenn., and Raleigh and Charlotte, N.C.
As a result of the agreement, Commonwealth Commercial said it has opened new offices in Raleigh, Charlotte and Reading. The company's managed portfolio now exceeds 13 million square feet across nine offices in the Eastern U.S.