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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

Filed Under: City of Richmond, Commercial Leasing, Company News, Financing, General, New Development, Office Buildings, Redevelopment, Retail, Selling a Business, Shopping Centers, Social Media, Uncategorized, Weblogs

June 28, 2012 by Lauren Noelle Gauthier

First Time Home-Buyer? There’s a Class for That.

Good news for any prospective home buyers who may be worried about their credit score and applying for a home mortgage loan – the Richmond Times Dispatch recently reported that new education classes are now available through Community Housing Partners of Richmond (CHP).  The cost? Completely free.

These “Real Estate 101” classes are taught by CHP Housing Counselor, Schirra Hayes, who aims to help those people who are thinking about purchasing a home and have no idea where to begin. The classes are designed to teach new prospective home buyers about the entire home-buying process – from start to finish – and how to stay on track as a responsible homeowner.

The classes are held every Tuesday and Thursday, 5:30 to 8:30 p.m, at Community Housing Partners office building, located at 100 W. Franklin Street.

According to Hayes, home buyers need to make sure their credit file is up to date and in shape, and in taking two sessions of his class, it would qualify first-time home owners for a Virginia Housing Development Authority (VHDA) mortgage application and many other programs.

“Lenders nowadays want to see a really good credit score to circumvent what happened in the mortgage crisis a few years ago,” said Hayes, with Community Housing Partners in Richmond.”

FYI, home buyers must attend both classes – Tuesday and Thursday) to receive a VHDA Home buyer Education Certification to qualify them for a home mortgage.

To learn more about the VHDA or register for a class, contact Hayes at (804) 343-7201, ext. 2035, or email him at shayes@chpc2.org.

And, of course, if you ever have any questions about finding a home to buy, you can always call Bandazian & Holden at 804-358-5543.

Filed Under: City of Richmond, Financing, Government Institutions, Residential Tagged With: Community Housing Partners of Richmond, free housing education class, good credit score, home buyer, Home buyer Education Certification class, mortgage, Schirra Hayes, Virginia Housing Development Authority

December 15, 2006 by Nathan Hughes

Loan Sharks or Saviors?

There has been quite a bit of noise lately about payday lenders and their very high (some would say "predatory") interest rates.  Last Tuesday, 12/5/06, House Bill 619 was defeated in the Virginia House of Delegates.  The purpose of the bill was to repeal the Virginia Payday Loan Act of 2002, which had exempted these payday loans from the maximum interest rate of 36%.

Anyone with a checking account, an ID, and evidence of a job can borrow against their next paycheck, with a "payday loan".  The concept is simple enough, and sounds like it does the job exactly as the payday lenders proponents say it does.  They say that these loans help people in real financial distress dig themselves out of a hole.

The problem is that the interest rates and the policies are set up such that cause these individuals who borrow this way end up in a downward spiral that is very difficult to break.  The opponents of payday lenders say that other options exist for individuals that need to borrow, and that the payday lenders are taking advantage of people that have no choice.  Every state around Virginia, has agreed and banned payday lenders with similar legislation — Maryland, North Carolina, and West Virginia.

I am a big believer in allowing market forces to decide what is necessary and what is an unsustainable business model.  BUT, there are situations where the public needs to be protected from themselves — and this might be just such a situation.

What does everyone else think about this?

Filed Under: Financing, Government Institutions, Legal, Retail

September 7, 2006 by Nathan Hughes

Lending continues upward trend

Commercial lending is slowing down a bit (to normal levels), but overall the trend is still upwards.  The painstakingly detailed article is on NREI Online.

Below is a reference to John B. Levy & Co., a real estate investment banking firm here based here in Richmond, VA.  I like to see locally-based companies referenced in the national media, so kudos to John B. Levy!

Link: Lending is up — again.

Even if CMBS lending in 2006 fails to top 2005’s record performance, volumes remain staggeringly high, according to John B. Levy, principal of John B. Levy & Co., a real estate investment banking firm in Richmond, Va. “We’ve gotten used to such a Herculean growth spike that when it comes back down to just reasonable, it looks like a disappointment,” Levy says. “Maybe growth is leveling off, but it’s leveling off at an incredibly high number.”

Filed Under: Financing

July 22, 2006 by Nathan Hughes

Residential rates highest since 2002

We all know that interest rates are rising, between the Fed raising their rates and the overall market slowing down.  Every indication is that the housing market is not busting, but it is definitely slowing down.

See below for the USA Today article from yesterday.  The general concepts are certainly not news to anyone, but their comparisons to previous highs and lows are interesting.

Link: USATODAY.com – Rates on 30-year mortgages are highest since 2002.

Freddie Mac, the mortgage company, says rates on 30-year, fixed-rate mortgages increased to a nationwide average of 6.80%, from 6.74% last week.

That’s the highest they’ve been since they stood at 6.81% the week of May 24, 2002.

Filed Under: Financing, National News, Residential

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“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.”

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Sperity

Sperity is a coined term, a combination of Inspire, Prosperity, and Integrity. We strive to bring all of those aspects to every interaction that we have, whether it is with a client, a customer, a competitor, or with anyone else.

We are a commercial real estate and business brokerage firm that works under a different model than anything else we've seen in the field. With the emphasis on treating our employees as a team, we incentivize excellent customer service and making sure that the whole company is working on every deal that we take on.


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