Blog – Page 2

September 24, 2020 by Nathan Hughes

Setting The Scene With Fuzzy Cactus

What happens when a musician from Ohio and a music enthusiast from Texas bond over the shared experience of artistry, touring and western dive bars? Michael Cipollone and Drew Schlegel’s worlds collided in Richmond, giving rise to a new music venue and dive bar, Fuzzy Cactus was born.

“It started as a conversation, and after a while I was ready to move on from [my previous place of work.] I wasn’t sure what I was going to do, but I wanted to remain independent and work for myself. So, I started kicking around the idea of opening a music venue and bar.”

Location was an obvious concern for the business partners. Drew had built up relationships in the RVA food and beverage community as a bartender, and these friendships spurred a meeting with Sperity Real Estate Ventures.

The Sperity Team came on board as knowledgeable allies and guides which the Fuzzy Cactus partners needed. Michael and Drew were looking in Brookland Park, but at the time there was nothing available that fit their needs. They eventually found a spot in trendy Scott’s Addition.

“We signed the lease, and we thought the place was ours, but the property management company decided last minute to move forward with someone else,” Michael said.

Although it was devastating in the moment, the fall through became a blessing in disguise. Their first choice of location, Brookland Park, had a building available that could work for them. Veronica swiftly arranged a meeting with the landlord’s agent and the rest is history.

The 3100 square foot space has multiple perks that contributed to a favorable community reception. The memories the location held for denizens of Brookland Park proved to be one of the most noteworthy. The space used to be a dry cleaners and during the buildout, neighbors would come in with fond anecdotes of the old business in its prime. Veronica suggested they keep some key elements for nostalgic purposes so the clothing rack behind the bar pays homage to the dry cleaners.

It also helped that the Fuzzy Cactus team was allowed creative freedom by the landlord. The modern-retro interior transformation was the final touch to give the space an aesthetically unique edge.

Michael and Drew attribute the success of the location to the work of Veronica and the Sperity team. As first-time business owners, the counsel they received was invaluable. Veronica and Robb’s rallying behind the Fuzzy Cactus vision reassured them and left a lasting impression.

“It seemed like everybody that we worked with over there was somebody we could have a conversation with from all walks of life. It was pretty comforting.”

Fuzzy Cactus is located at 221 W Brookland Park Blvd.

August 28, 2020 by Nathan Hughes

The Scoop on Ruby Scoops

The fond memories Rabia Kamara held on to from her childhood have a common, sugary theme: ice cream. Now, she wants a space for others to create memories.

After applying to law school upon graduating from Virginia Commonwealth University, she realized this was not her path to happiness. Instead, she attended L’Académie de Cuisine in Maryland and garnered eight years of restaurant experience.

With the intention of opening her own shop one day, Rabia began exploring her dream while living in DC, making desserts for various restaurants.

With a competitive real estate market in DC, she decided to look at Richmond where she held fond memories of college. A friend connected her to Sperity Real Estate Ventures.

Originally, she wanted to be closer to the VCU campus but it didn’t feel quite right. The joint efforts of Veronica and the Sperity team resulted in finding a perfect location in Richmond’s northside.

After looking at several possibilities, one of which would require extensive renovations, Sperity found a location a few blocks away at 120 W. Brookland Park Blvd, on the same block as other food joints including Ms. Bee’s Juice Bar and Ninja Kombucha. The community reception met and exceeded Rabia’s expectations.

Emmett Wright joins Rabia in opening Ruby Scoops. They met rather serendipitously at a panel on women-owned ice cream businesses, as Emmett was interested in opening their own ice cream shop, too. Emmett also enjoys fond childhood memories that center around ice cream, and had found themselves producing ice cream at Helen’s, perfecting a dairy-free ice cream to serve friends in the community.

When the shop opens, expect prepackaged pints and sandwiches, vegan desserts and milkshakes to-go. Once restrictions are loosened, handcrafted sundaes and custom cookies will be added to the mix. In the meantime, you can support Ruby Scoops on Kickstarter and find her at local pop-ups around the Richmond area.

“It was nice to have them on our side, doing the work to make sure that our dreams of being here were fulfilled. They’re amazing.” Rabia reminisced. “They were always there when we needed something and it’s rare to get that in any business situation. We were prioritized.”

August 26, 2020 by nvh2

Why Now is the Time to Make a Move on Commercial Real Estate

Commercial Real Estate in Richmond Virginia

Photo by Derrick Brooks on Unsplash

With the coronavirus pandemic sweeping the world, many businesses have shut down, leaving many vacancies in commercial real estate. Now is the perfect time to make a move in commercial real estate because prices are down, interest rates are lower and there is an excess supply of buildings. If you play your cards right, you could be successful in the commercial real estate industry after the pandemic crisis has abated.

Lower Interest Rates

Because of the pandemic and the current recession, commercial real estate properties have a lower interest rate than normal. The interest rate has reached incredibly low proportions, meaning that you don’t have to worry about paying a lot of money in interest overtime for your properties. You can buy many properties, most likely more than you otherwise would have, though you should still be wise with your purchasing power. While you will still need to keep an eye on making the numbers work during the pandemic, the lower interest rate could prove to be incredibly beneficial to buying commercial real estate.

More Supply

With many businesses permanently closing, commercial real estate there are deals to be had. These closures have left a supply in commercial real estate. With reopening delays and shifting customer demand, many businesses will not be able to last if they don’t make the right moves — resulting in vacancies and those properties becoming available for purchase. A high number of businesses are likely to close their doors forever because of the pandemic, meaning that there is a surplus of commercial real estate buildings. You can purchase these buildings now to make a profit later when more people are looking to buy commercial properties again.

Affordable

Because of the low interest rates and the increased supply of commercial real estate properties, these properties have become more affordable than they have in a long time. Because of their affordability, now is the perfect time to invest in commercial real estate. If you have the means to do so, you can buy up properties for cheaper prices than they would have been pre-COVID-19. Buying now could be incredibly beneficial in your future if the demand for business properties once again increases.

While you may not think now is the best time to look into commercial real estate properties due to the pandemic, it is actually a great time to look into commercial real estate properties because of their affordability, the increased supply, and the low interest rates.

Ready to make a move on commercial real estate? Find your next property investment in our listings!

August 17, 2020 by nvh2

How to Protect Your Commercial Property During a Harsh Winter

Photo by Ramiz Dedaković on Unsplash

Snowflakes dance and twitter as they fall from the sky, but when they pile up on a roof, they can cause

long-lasting damage. Snow is heavy, and with the dancing snowflakes comes the bitter cold that seeps into the bones, and the interior workings of buildings and concrete. Cold and snow can be damaging to property, which is why you should know how to protect your commercial property to survive a harsh winter.

Winterize Your Roof

Your roof is an important factor to keeping your building safe and secure. If there are leaks, the winter storms can cause heavy damage to your roof come spring. It’s important to make sure that there are no places where the roof can leak, which requires an inspection. Most roof inspections are done in the fall, to assess how the winter will affect the roof and prevent damage, and in the spring to assess what to do to repair the winter damage. Winterizing your roof requires hiring a professional to look at and gauge what should be done to your roof to protect it for the long winter.

Keep Concrete and Asphalt Maintained

Another thing you can do is maintain the concrete and asphalt of your property. Cracked concrete can break apart further during the winter when water melts from the snow, seeps into the cracks, and then freezes, expanding the cracks. Ice can cause potholes to start to appear in your asphalt and concrete. Sealcoating your asphalt prevents the cold from expanding the surface and doing further damage. Maintaining your concrete and asphalt not only prevents damage, but it keeps your property looking professional throughout the winter.

Prepare the Grounds

Another way to prepare for a harsh winter is to prepare the grounds. If you have a lawn with trees and shrubbery, it’s important to give them the care they need so they can slumber the winter away. Trees should be pruned back, and the grounds should be fertilized and mulched to protect the plants during the long winter. If you have potted plants by the doors of your commercial property, take them inside for the winter so that they can have a warmer climate.

Your commercial property can survive the winter if you take the proper care of it. By winterizing your roof, maintaining concrete and asphalt and by preparing the grounds, you ensure your building will be ready for spring.

Do you want to buy a commercial property? We can help you find one! Contact us to get started.

August 10, 2020 by Nathan Hughes

A Home for DIY Heaven

If you happen to be a DIY enthusiast, buckle up, this one’s for you! AR Workshop is a privately held franchise with 175 locations in 34 states and is entirely women owned. They produce custom home décor out of raw material and also provide the instructions on how to assemble. Their inventory kits span from cornhole boards to lazy Susans, wood signs, bed frames, photo frames, chunky knit blankets and so on. It’s DIY heaven.

After visiting one herself, Catt Pulli was all in.

“I decided to just go for it and purchase a franchise!”

Catt has a background in photography and was an art major in college so becoming a home décor/DIY business owner was something that she organically gravitated towards. While it was a very spur of the moment decision, it fit nicely with her lifestyle.
Catt’s spontaneous choice was made in the summer of 2019 and had six months to find a location. While she was undertaking the brunt of the work herself, she figured it wouldn’t hurt to reach out to Nathan from Sperity, an acquaintance that was made from shooting restaurant real estate photos. He was her first point of contact.

“His advice was to find someone professional and that is how I got connected with Veronica.”

Veronica Wiles became Catt’s go-to person at Sperity. She had a lot of insider knowledge and was a welcome protection from landlords who might have taken advantage of Catt’s unfamiliarity with the ins and outs of real estate purchasing. Catt and Veronica were able to develop a great working relationship. When asked to describe the relationship she built with Veronica, this is what Catt had to say:
“She focused on everything I wanted, didn’t show me anything to waste my time and would meet me at a moment’s notice. Once we found our space, which only took a month, she helped us nail down the details of it. We moved on to working with a lawyer which she graciously recommended.”

The specifications of Catt’s desired space were 1500 – 2500 square feet to meet the needs of a craft studio. Veronica presented 10 options to choose from, and Catt had her eye on one.

“I wanted to be central to Mechanicsville and found a spot which we initially didn’t get. It was over our price point, but Veronica was able to work a deal out and we eventually got the space!”

Veronica’s help was invaluable during and after the process. She had recommendations for even contractors. Nathan was a welcoming presence as well in the background, ensuring everything was moving smoothly.

Starting a new business has its challenges under normal circumstances and the current pandemic meant Catt had to adjust to the situation. After opening up in her new business in February 2020, she immediately had to turn around and close her business before they could really get going. Faced with the task of providing her services in a safe and convenient manner, Catt pivoted to preparing DIY kits to-go. Her resilience is a testament to the dedication she has to her patrons.

The space, at 7362 Bell Creek Road, worked out perfectly because it is in a well-known area and customers are aware of their presence. She was able to make the best out of a novel situation.

Catt’s journey to the perfect location was achieved because of the devotion and guidance of Sperity Real Estate Ventures.
“Nathan was the first person that I thought of. I know a lot of real estate agents, but he was my first thought. I knew he would answer my questions and I trust him. When Veronica and I were looking at places, she knew everybody. She was warm and friendly. It feels like we are good friends now.”