Blog – Page 3

July 10, 2020 by Nathan Hughes

A New Lease By The Slice

When Elaine Odell realized Tricycle Gardens would not be renewing their lease at her 2314 Jefferson Avenue property, she knew exactly who to call. Nathan Hughes helped her with their original lease in 2012 when he was a partner at Bandazian & Hughes, and he had to be the one to help her again.

“He has the ability to structure a lease that works for everybody — he has wonderful patience. It’s one of the most wonderful things about working with him. He’s patient, he listens to everybody, he’s a really good facilitator in terms of helping people to come to an agreement, to get each party what they need.”

Pizza Bones, more widely understood as the crust you leave behind after devouring a slice of pizza, is Elaine’s newest tenant. Founder Ashley Patino was hanging out with friends in college when she heard this phrase, and she had kept it in her back pocket ever since.

Starting her culinary career at Lamplighter Coffee Roasters, she made her way into the kitchen and then to an internship and eventual position at Sub Rosa Bakery in Church Hill before spending some time in California. Upon her return, she had her plan.

As a property owner, bringing a restaurant into the space felt much more complicated and intimidating to Elaine. “I’m glad Nathan has the experience with restaurants that he does, because I don’t. There are different things you have to be aware of and expenses to pay for and it was great to have someone with his experience help me through that process. He has that devil in the detail stuff only an industry insider knows.”

Ashley has big plans for Pizza Bones. “I want it to be more than just a pizza place, I want it to be a community space.” She hopes to utilize the space for community gatherings, especially the outdoor area.

Ashley’s plan fell in line with the other Jefferson Avenue businesses. “We are working hard to create a place for the community to be, to spend their leisure time, time to gather with friends and family and enjoy a meal,” says Elaine. “That’s why this business makes a lot of sense.”

Union Hill and Church Hill are home to many young families, with toddlers and school aged children. Parents need places where they can have a meal and bring their kids, and feel comfortable doing so. At Pizza Bones, they will see a menu that appeals to a spectrum of family members in an environment that feels good.

Jefferson Avenue is grassroots and organic. You won’t find any chains or franchises here, home to several iconic Richmond spots, such as Union Market, Sub Rosa Bakery, and The Roosevelt to name a few. North End Juice Co. is slated to open a spot in the following months, as well as Elaine’s newest tenant, Pizza Bones.

July 10, 2020 by Nathan Hughes

Muslim Beauty Salon Lands Permanent Mark on Main Street

Permanent makeup? You may be raising an eyebrow, but that is exactly where this story starts. 4 years ago, Ashley Meggie decided to get permanent makeup eyebrows — that is, a tattoo that mimics eyebrows. With alopecia, she had been drawing on her eyebrows for several years but had only considered permanent makeup when a Youtube beauty guru recorded herself getting them done.

Tattoos are viewed negatively in the Muslim community, so prior to her appointment, Ashley visited the Islamic Center of Virginia to get permission. They officially ruled it was permissible for her (and others) to receive permanent eyebrows as a tattoo, as one is allowed to do what is necessary to achieve a level of “normalcy.”

It took Ashley a three hour drive to Maryland, a three hour procedure, and a three hour drive back to Richmond to accomplish, and that left her thinking that there had to be a way to bring this to Richmond. So she went to work researching and then studying to become a permanent makeup artist.

With a business plan developed, Ashley had been looking for a downtown location for Boastful Beauty for a few months with no success. On a visit to see a vacant building on East Grace Street she met Nathan Hughes by chance. After peering into a building curiously, Nathan stepped out to ask if she needed assistance, and their working relationship began right then, when after hearing about her vision, Nathan took her immediately to see a unit off of 5th and East Main Street.

After meeting Nathan, Ashley did some more research. “As a Muslim business, I really liked that he had a lot of ties in the religious community. He’s very involved with helping churches and community based programs find buildings.”

“East Main is definitely a major road. It’s just as synonymous as Broad Street to me. I couldn’t ask for a better location, and it’s a corner lot. You can see my business from two angles.”

Boastful Beauty is Virginia’s first and only Muslim beauty salon. There are only a few in the country, including California, New Jersey, and Washington, D.C. People travel far and wide to visit, from Fredericksburg and Stafford to as far as Philadelphia.

“I didn’t realize I was doing a big thing, I went viral when I shared on Facebook. I had over 6,000 friends request in less than 24 hours. The Muslim community went crazy!”

Boastful Beauty also offers services for Muslim women like henna, hair wax/dying, press on nails instead of acrylics. But she stresses that all are welcome. Of the five on staff, two are Muslim, and the other 3 are from different backgrounds and races. “I want everyone to feel welcome here.” Everyone is represented. “When you look at our logo, you see diversity. All women are welcome to come to our salon.”

At only 25, Ashley took her vision and made it a reality. In the future she hopes to branch to Short Pump and offer more medi-spa procedures such as chemical peels, botox, and lymphatic drainage. While managing her new business, she’s also back in school and writing up a curriculum to found Boastful Academy, where she can train others to become professional permanent makeup artists.

“Anytime I called and asked for help, they had so many resources to share with me. I know they’ll represent me in the future when I’m ready to grow,” she says.

June 10, 2020 by nvh2

Just Closed A Restaurant? 3 Problems You May Need to Address Before You Lease Again

If you just closed your restaurant and are looking to lease it again, it is important to be aware of potential problems that you may need to address first. Indeed, in real estate, knowledge is power. You may encounter problems, such as pests, lingering odors, and safety or health issues. These problems need to be addressed sooner rather than later before you can even think about leasing your restaurant space again.

Pests

Unfortunately, it is common to encounter pests after closing a restaurant. It’s important to address these problems because they can introduce dirt and disease to your property. When addressing this problem, be sure to clean thoroughly with disinfecting chemicals. Close all openings around wiring, vents, and drain pipes to ensure that bugs cannot return and bother the new renters. In addition to bugs and rats, other vermin might seek out food from the now-closed restaurant space. You can set up snap and sticky traps for rats and mice. If bugs and vermin continue to be a problem, calling an exterminator is a good course of action.

Lingering Odors

In addition to pests, it’s not out of the ordinary to encounter lingering odors after closing a restaurant. These odors can be unpleasant and unappealing for new renters, so they must be fixed before the property can be rented out again. Grease and burnt food are typical culprits of lingering odors. Vinegar, baking soda, and odor-removing cleaning agents are a few ways you can remove these odors. There are multiple odor elimination methods to choose from, so consider your circumstances and needs when selecting which method is right for you.

Damage, Safety, or Health Issues

There can be any number of circumstances which would cause a previous restaurant space to present safety or health issues or have internal damage. Before leasing the space again, it is essential to repair any structural damage to the property. It’s also essential to verify that all carbon monoxide and smoke detectors work, and that there are at least two forms of exit from the unit. Make sure to check for mold and lead-based paint hazards presented by old buildings.

Taking the time to check your property for pests, lingering odors, damage, safety, and health issues will allow you to eliminate unpleasant surprises. Taking care of these issues will help your leasing process to happen more smoothly, and ensure happy future tenants.

Need commercial real estate advice? Contact us today and we’ll be happy to help!

June 5, 2020 by nvh2

How to Make a Commercial Property Presentable Before Listing It

Commercial properties come in all shapes and sizes. They can be the size of a warehouse, or a small shop in a mall. Regardless of its size and purpose, there are a few key things that you can do to make your property stand out and justify a higher list price. To get going on your preparations, start with these three tips.

New Paint

Nothing makes a place feel rundown and depressing like peeling, chipped, or dirty paint. If this is the current state of your property, you should consider giving it a new paint job before listing. The new paint will give your property a much newer feel. Even if the paint is still in good condition you might want to paint it anyway.

By painting the walls white, you can help make the property seem bigger and give it the feeling of a blank canvas. This will make it much easier for potential buyers to imagine how their color schemes will fit in the room. There are a few ways you can paint your property while sticking to a tight budget. Since the paint is only temporary, you can use lower quality paint. If you choose to leave the paint as it is, you could just focus on touching up certain areas.

Kitchen and Bathroom Upgrades

Kitchens and bathrooms are key selling points, so these should be up-to-date. If you rent your property to businesses, these can make a huge impact on the business’s productivity. A nice kitchen/kitchenette makes a great break room for employees. A poor-quality bathroom will leave a poor impression on visiting customers. No matter who your potential buyers/renters are, they will be impressed if these rooms are in good condition.

Simple Furnishing

Depending on the type of commercial property, staging an empty location can be a big mistake. It makes the place look bare and boring. Consider putting in some simple furnishings to brighten the place up. You shouldn’t spend a lot of money on this. The furnishing is just for show, so it can be cheap, yet stylish. Try to anticipate your tenants’ preferred use for the property and design your furnishing accordingly.

These preparations may take some time and cost you a bit of money. But they will allow you to get the property sold or rented more quickly and at a far better price. Just be sure to plan out your actions well and keep careful track of your expenses.

If you’re planning to list your commercial property, we can help to connect you with buyers. Reach out to us to learn more about how we can assist you!

June 3, 2020 by Nathan Hughes

From Stitches to Riches

TSI Promotionals may have a history that starts with printing services, but when owner Doug Mays took over, the company expanded into new product lines and grew its profits five-fold.

What’s the secret sauce? According to Doug, it’s diversifying products and services for changing times. As a byproduct of that success, Sperity recently helped him secure a new space.

Doug took over Superior Printing after his father-in-law passed in 2011. With an original focus on print materials and stationary, he saw the need for change and potential for growth. In 2015, he purchased Timeless Stitches, Inc. (that’s TSI for short) and expanded services to include embroidery and screen printing.

Today, TSI Promotionals is a one-stop shop for branded products with all design, printing, and embroidering or screen printing completed in house — nothing is outsourced. They help businesses better market their services though decorated apparel and design and also partner with schools to produce spirit wear and athletic gear. From large corporations that already have a logo, to small startups, who come in with just an idea, TSI Promotionals provides a crucial resource for marketing businesses.

With Sperity’s help, the company recently purchased a building to expand its production capabilities. Originally leasing retail space, TSI Promotionals had to cram bulky equipment into its showroom. Now, with a proper production facility dedicated to equipment, the showroom feels like a retail space where clients can check out products in person. The new space also brings the ability to fulfill larger orders and provide faster turnaround.

Doug is also pleased with the warehouse’s new location. Before, he had occasional walk-in customers, but they tended to be much smaller orders. Now in an industrial park, many of his clients are nearby. “We are much more accessible,” Doug said. The move brings them closer to current clients including Hanover County Schools which uses TSI for its athletic and spiritwear.

We brought several buildings to TSI’s attention, but didn’t rest until we turned over every stone and found the perfect spot. With our methods in finding commercial space, Doug felt confident that Sperity had his best interests at heart.

We tackled another challenge and secured a new tenant to take over the long-term lease on Doug’s previous space. Sperity also secured an extension for his new building’s current tenant to give Doug peace of mind and income to apply towards his mortgage.

“Instead of finding a big ticket location, Sperity listened to my needs and found what I was looking for. I was never waiting on them for anything. They handled both parts of the transaction, which was incredible,” Doug said. “I was able to sit back and let them run with it.”

Doug sees the future of screen printing and embroidery as fast growing, with more companies moving to casual wear and logo apparel and away from suits and ties.

With the new workspace and an increase in production, TSI has a bright future ahead.

Learn more about TSI Promotionals on their website