Case Studies

Case Studies

The case studies below highlight Cushman & Wakefield | Thalhimer's diverse experience in all facets of commercial real estate. Each case study examines the need of the client, the approach taken to deliver the solution, and the results. Please contact us if you desire similar results.

Nid

2215 Langhorne Road

Horizon Behavioral Health is a large organization consisting of 720 employees in multiple facilities in Lynchburg and surrounding counties. With their recent growth, Horizon approached George Lupton...

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29721

Chesapeake Square Place

Eric Stanley (Thalhimer – Virginia Beach) was tasked with the job of finding a location that could be redeveloped into a retail strip center leased by national tenants.  Eric identified the site...

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29522
Midlothian Center

Midlothian Center

The owner of Midlothian Center desired to repurpose the property from retail to medical office to capitalize on its proximity to two major hospitals. In two years, the leasing team has converted over...

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4121

Stratford University National Campus Expansion

Joint venture partner to provide equity and real estate development/investment expertise to acquire land or buildings for the national campus roll out

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9108

Waterford One

Dispose 100% leased office building located in the Route 288 submarket of Midlothian.

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9124

Westpark Shopping Center

In late 2010, Westdale RECap Partners purchased the 176,973 SF Westpark Shopping Center.  At the time, the center was anchored by Martin’s, The Tile Shop and Victory Lady Fitness. ...

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23501
Larchmont Apartments, LLC

Larchmont Apartments

Owner needed Cushman & Wakefield | Thalhimer to operate the property, minimize loss of residents, and manage the relocation and lease-up of completed units in a timely manner to maximize revenue...

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719

MarketSquare | McLeskey & Associates

MarketSquare (formerly Lynnhaven Shopping Center)- originally built in 1974, this neighborhood center is 176,000 square feet and is prominently located at 2824-2884 Virginia Beach Blvd. In 2014,...

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29523
Exterior view of Boulders Center

Parkway Properties Richmond Portfolio

The portfolio consisted of five suburban office buildings built between 1984 and 1987 and totaled 419,126 square feet.  The Hertz Group of California acquired the assets as their first...

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4123

Kent Road Apartments Acquisition and Redevelopment

Acquisition and redevelopment of Kent Road Apartments, an 88-unit property situated in a highly sought after residential area within the City of Richmond.

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9109

SunTrust Sale|Leaseback

Dispose under sale/leaseback arrangement of the Richmond landmark SunTrust Mid-Atlantic headquarters complex with two parking garages.

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9125

3919 Electric Road-Roanoke

Brauvin Real Estate, which owns a portfolio of former Pantry Gas stations needed third party seller’s representation. In November 2014, Cushman & Wakefield | Thalhimer pitched Brauvin and won the...

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23503
Hunton and Williams

Hunton and Williams Relocation Management

Planning and management of a multi-phased 300,000 SF corporate law office renovation.

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720

Westpark Shopping Center

Westpark Shopping Center is a 176,973 SF soon to be Publix anchored shopping center located along the premier section of West Broad Street in Richmond, Virginia.  The center is anchored by The...

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29524

Sport Clips

Evaluate and execute search for successful locations within the Richmond market, eventually procuring three locations in the Richmond market.

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4124

Enterchange at Meadowville

Lease-up of a 226,810-SF high-bay warehouse distribution center during a severe economic downturn.

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9067

The Shoppes at Westgate Development

Development of Class A office/retail park.

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9110

Commonwealth Center

Market and sell 93% occupied Commonwealth Center office building in Midlothian, VA.

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9126

First Citizens

Thalhimer successfully identified a potential pad site and presented the opportunity to sell to the owner.

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23504
Owens and Minor Relocation Management

Owens and Minor Relocation Management

Corporate office restack to accommodate the McKesson acquisition.  The project required furniture reconfiguration and interoffice movement of 150 employees, affecting approximately 30,000 SF.

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721

Colonnades West Shopping Center

James Ashby IV of Cushman & Wakefield | Thalhimer has been handling the Colonnades West Shopping Center since 2004.  As of May 2012, Cushman & Wakefield | Thalhimer is handling full...

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29525
Exterior view of 5620 Cox Road

Capital One

Cushman & Wakefield | Thalhimer assisted Capital One in disposing of a 297,000-square foot lease obligation by structuring a direct lease with a national title company.

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4156

Diversified Information Technology

Secure location for records management company with 100% HVAC, large, brick facility in the State of Virginia.

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9068

Crescent Business Center Development

Reposition and development of a 70-acre 1970’s vintage corporate research campus.

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9111

Deep Run Centre

Identify acquisition opportunity with upside potential for a 1031 Buyer.

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9127

General Foam Plastics Corporation

General Foam owned an obsolete 200,000 square foot manufacturing/warehouse building situated on 7.88 acres.  Thalhimer was tasked with the disposition of the facility.

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23505
Eagle Village I (University of Mary Washington)

Eagle Village I (University of Mary Washington)

Newly formed University Real Estate Foundation purchased a 40-year old, 235,000-square foot shopping adjacent to campus for expansion.

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722

The Shoppes at Arboretum

DNA Partners acquired The Shoppes at Arboretum in 2005.  The Center is 102,388 SF and was purchased at about 80% occupancy.  James Ashby IV and Richard Thalhimer have assisted since 2005 in...

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29526
Exterior view of Westmark II

SunTrust Bank

Within 30 days of determiniation of space needs, Cushman & Wakefield | Thalhimer identified, negotiated, and completed all documentation for SunTrust's 80,000-sf need in Westmark II.

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4157

1000 Falls Run

Well-located, but vacant, near functionally obsolete warehouse in need of sale or lease.  Assisted off-shore client who was concerned about tax liability.

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9069

Courtyard Hotel - Tifton, GA

Market a 90 room, select service REO hotel which would lose its franchise license upon sale. A regional buyer with nearby properties purchased and rebranded the hotel.

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9112

Chesapeake Crossing

Exclusive agent for special services handling the disposition of the asset after taking it back from the borrower.

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9128

The Malone Schooler Portfolio

The Malone Schooler Company, which owns a portfolio of Food Lion and Giant anchored centers, totaling close to 464,764 SF, hired Jim Ashby and Sharon Schmidt in 2013.  The portfolio consists of...

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29283
Shockoe Place Apartments

Shockoe Place Apartments

Thalhimer assisted a local investor to take an under-occupied 47-unit property and lease up to the market rate for the area while producing additional income for the owner.

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723

Harbour Pointe Village

Harbour Pointe Village, a soon to be Publix anchored center, is in the heart of Hull Street, just west of 288.  The area is known for extremely strong demographics.  First Washington Realty...

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29527
Exterior view of 1017 East Morehead Street

Morgan Stanley Smith Barney

Under difficult constraints, Cushman & Wakefield | Thalhimer successfully sub-leased two floors of a class A building for Morgan Stanley Smith Barney.

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4158

Anheuser Busch

Secure new modern regional warehouse distribution center for Anheuser Busch

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9070

Malone Schooler Properties

Management of owner operated and formerly self-managed nine grocery anchored shopping centers in Fredericksburg area.

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9113

Patriot Plaza

Exclusive agent for Chelsea Property Group (NYSE:SPG) in the disposition of an outlet center in Williamsburg, Virginia.

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9129

Bridgeway Commerce Center

Cushman & Wakefield | Thalhimer was awarded the listing assignment for 6950 Harbour View Boulevard, Suite D at Bridgeway Commerce Center.  This space was the last remaining vacancy at the...

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29380

Laburnum Square

The center is located in the east end of Richmond near the intersection of I-64 and Laburnum not far from the airport.  The property was purchased with the plan to stabilize and hold for...

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744

Audubon Crossing Shopping Center

Audubon Crossing Shopping Center is located on Laburnum Avenue in the East End of Richmond, Virginia.  This area is densely populated and is home to major retailers such as Target, Martin’s,...

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29528
Verizon Wireless logo

Verizon Wireless

Verizon Wireless retained Cushman & Wakefield | Thalhimer to implement expansion of authorized retailer locations throughout Virginia. Over 50 locations were completed.

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4159

Troutman Sanders

Troutman Sanders law firm sought the assistance of Cushman & Wakefield | Thalhimer to sublease approximately 27,000 square feet on the 10th floor of Riverside on the James office building in...

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9071

Blackbaud

Renewal of headquarters space for Blackbaud in Charleston, SC.

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9114

Liberty Portfolio

Exclusive agent for Liberty Property Trust in the disposition of two class A suburban office buildings and two office/flex buildings in Oyster Point Office Park in Newport News, Virginia.

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9130

Bridgewater Distribution Center

Cushman and Wakefield | Thalhimer was tasked with selling a partially leased industrial complex of 200,000 square feet.  Portsmouth Distribution Center LLC (PDC) purchased the property with one...

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29381

3426 W Cary Street

3426 W. Cary Street is a freestanding 2,310 SF building on approximately 0.27 acres in the heart of Carytown, which is a very high-end, eclectic retail submarket.  The owners’ goal was to sell...

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29529
Picture of Sunrise Apartments leasing office

Sunrise Apartments

The Multi-Family Advisory Group sold a 94% occupied apartment project, exceeding the seller's expectations on price and terms.

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4160

502 Viking Drive

Assist client in purchase of the Virginia Employment Commission (VEC) building and surplus land adjacent to client’s existing holdings

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9072

Centre at Culpeper Property Services

Cushman & Wakefield | Thalhimer Property Services assessed the operating elements of a foreclosed 73,000 square foot retail property.

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9115
Exterior view of Biggs Building

The Historic Biggs Building

The Historic Biggs Building, a student housing property, was in need of a strategic repositioning and a reduction in vacancy.

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9143

River Road Shopping Center

The River Road Shopping Center is in the heart of Richmond. This area is known for high incomes and close proximity to the University of Richmond, Country Club of Virginia and numerous private...

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29382
Dr. Ryan Bailey, DDS, MD Oral and Maxillofacial Surgery, PLC

Dr. Ryan Bailey, DDS, MD Oral and Maxillofacial Surgery, PLC

Locate space with minimum of two operating rooms, recovery room, reception/waiting area, file storage, and break room for oral and maxillofacial surgeon relocating from California.

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746

Southshore Shops

Southshore Shops is a 39,100 square foot unanchored retail center in southwest Chesterfield County. Built in 2005, the center was initially leased to a variety of national and local businesses....

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29530
Aerial view of Bridgeway Business Center

Bridgeway Business Center

The 750,000 square foot Bridgeway Business Center in Suffolk Virginia was successfully leased to a mix of high-quality tenants.

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4161

Foodhandler

Foodhandler/Barrier Safe Solutions, a Chicago based company, an established expert in safe food handling, providing gloves, bags and apparel products to the foodservice industry, interviewed...

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9073

Indian River Distribution Center Property Services

Institutional client purchased a portfolio of industrial properties, and needed a local professional management firm. Cushman & Wakefield | Thalhimer handled the sales transaction and won the...

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9116

Heritage Pointe Apartments

Cushman & Wakefield | Thalhimer was tasked with resolving significant occupancy issues, and to develop and implement a capital needs assessment.

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9144

4025 Seaboard Court

Cushman and Wakefield | Thalhimer was tasked with leasing a 25.8 acre rail served portion of a larger site in Chesapeake, Virginia.  The property was paved, and included two rail spurs.

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29395
Exterior view of Northlake Building A in Northlake Industrial Park

Owens and Minor

Strategically evaluate and secure expanded state-of-the-art distribution facility for Owens & Minor, a Fortune 500 company headquartered in Richmond, within close proximity to its newly...

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747
Enterchange at Walthall

Enterchange at Walthall

Assist Devon USA in investing 1031 funds and developing modern high bay warehouse distribution park.

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748

5824 Northampton Boulevard, VA Beach

Multi-tenant retail strip center located on one of the busiest traffic corridors in Hampton Roads.  Northampton Blvd. links I-64 to the Eastern Shore of VA and accommodates over 65,000 VPD....

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29536

Wise County Plaza Property Services

Retail center in southwest Virginia required closer communication with tenants and vendors, in order to provide a high level of service and to maximize the value of the property.

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9117

Kent Road Village Apartments

Cushman & Wakefield | Thalhimer was tasked with overseeing a significant property repositioning, including major rehabilitation, to this highly desirable community.

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9145

Former Nova Chemical Property

Disposed of a well located former chemical plant with known environmental issues.

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29399
Rock Landing Office Portfolio

Rock Landing Office Portfolio

Lease 84% occupied four-building office portfolio for BGK, one of the largest and most respected private real estate investment firms in the country.

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749

Centre at Culpeper Investment Sale

This 72,878 SF retail Shopping Center in Culpeper, VA was built in 2006. This property was acquired in the middle of the Recession and was in a state of disrepair with large amounts of deferred...

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29537
External view of the Winston Factory Lofts project

Winston Factory Lofts

Historic rehabilitation of existing 135,000 sf masonry and concrete manufacturing facility into 85 luxury apartments with secure first floor level parking, fitness area, pool, and club house.

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6408

High Point Marketplace

Increase occupancy of a shadow anchored Walmart Supercenter with a 60% vacancy rate

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9077

STAG Industrial Facility Management

Management and Inspection Services provided to Large Industrial facilities in southwest Virginia and North Carolina.

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9118

Suburban Office Portfolio

The portfolio consisted of two suburban office buildings built between 1998 and 2000 and totaled 126,388 square feet.  Brandywine Realty Trust acquired the properties to add to their existing...

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9936

Emser Tile - Centerpoint

Cushman and Wakefield | Thalhimer represented Emser Tile in the Hampton Roads and Richmond markets.  The company required an East Coast distribution center.  With no matching existing...

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29411
Banks Brothers, LLC

Banks Brothers, LLC

Develop a new marking strategy and a comprehensive management plan for reporting that satisfied the client’s needs.

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750

Venture Ridge Retail Development - O'Reilly Store

Site Acquisitions, LLC  contacted Cushman & Wakefield | Thalhimer to find a retail pad site in the Forest, VA market, which lies between the cities of Lynchburg and Roanoke because it...

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29596

Walmart

Implement client’s Virginia Store Development Program. Each Walmart Supercenter (100,000 – 200,000 square feet) is comparable to development of a shopping center and its trade area is many square...

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9078

VSCPA Facility Management

Owner occupant realized need for professional facility management.  Cushman & Wakefield | Thalhimer benchmarked and reduced operating expenses and provided an integrated technology program.

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9119

Comfort Inn - Lightfoot

Recognizing that the location of this 80-room limited service hotel  was in the path of a growing national outlet company, we devised a plan to maximize the value for the owner.  A national...

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22324

208 St James Avenue, Goose Creek, SC

208 St James Avenue is the former home of Kmart. This shopping Center is in the heart of Goose Creek SC, just 15 minutes North of Charleston. This area is known for its numerous older neighborhoods...

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29436
Aquia Partnership

Aquia Partnership

Market 20,000 SF flex property easily divisible into 2,000 SF bays.

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751

Williams Mullen | Commercial Property Services

An out-of-state purchaser needed a full service real estate firm with local market expertise to provide best in class leasing and management services. The Williams Mullen building is located on .3829...

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29608
Exterior view of Lexington George Washington hotel

Lexington Hotel

Within 6 months a value-add investment group from New York purchased the hotel for $1,250,000 over acquisition price.

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6459

Starbucks

Strategically evaluate expansion for Starbucks across the Commonwealth of Virginia to meet aggressive roll-out plan

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9079

Enterchange at Walthall Facility Management

Institutional client needed a local real estate firm to provide property management services for a large industrial portfolio.

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9120

Holiday Inn Express (Formerly Days Inn Colonial Resort)

The buyer required representation in the acquisition of two distressed hotels from a lender who’s market expectations we not in line with market reality.  We prepared analysis and projections of...

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22325

AAA

AAA needed relocate its current operation at Willow Lawn.  As part of the relocation, they also needed a site suitable for auto repair as part of their new freestanding concept shown in photo...

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29518

ALDI

Aldi needed to find a suitable location to purchase and build in the Short Pump retail trade area, the most critical trade area from a branding perspective in the Richmond market.

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29519
Deep Run

Deep Run

Provide property condition assessment for due diligence prior to completion of purchase by 1982 Austin Fort Street Land Trust.

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752

735 Johnnie Dodd's Blvd

Nestled among beautiful low country palms, the API Office Complex is the most visible office building which also happens to face the most traveled road in all Mount Pleasant. This area is known for...

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29609
Exterior view of Days Inn Bypass

Days Inn Hotel

Represented buyer in the acquisition of two distressed hotels from a lender.  Prepared analysis and a repositioning strategy of the properties, closing near targeted value.

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6471

Panera Bread

Strategically evaluate continued expansion in the Richmond SMSA for Panera Bread.

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9080

Byrd Center

Owner of Byrd Center, a 475,000 square foot flex-industrial portfolio, determined they could outperform the yield requirements of their investors by selling the asset.

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9121

Wyndham Hotel - Richmond, VA

Approached by a public REIT to liquidate a non-strategic, 155 room, full service Wyndham hotel from their portfolio, we created a national and international marketing program targeting both public...

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22326

Jiroz at Main + Stone

Le Cordon Bleu-trained chef wanted to open his signature restaurant in downtown Greenville, SC  as it is listed as one of the “Top 10 best downtowns in America” by Forbes magazine.  

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29520
Picture of Chippenham Business Center monument sign

Chippenham Business Center

Assist client in correcting inaccurate financial reporting, updating rent rolls, and reducing delinquencies, operating expenses and maintenance costs, eventually reducing monthly operating expenses...

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753

Perimeter Center

RMR Group purchased Perimeter Center, a 4-story Class A office building consisting of 174,000 SF and 100% leased to the Commonwealth of Virginia.  Only two years remained on the lease when...

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29610
Aerial view of Ballantyne

MetLife

MetLife's requirements grew from 100,000 sf to 340,000 sf, requiring a massive search for on and off-market opportunities, including build-to-suits. A deal was signed in Ballantyne Corporate Park.

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6511

Chipotle

Evaluate and execute search for successful locations within Virginia for Chipotle.

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9081

Riverside Drive Apartments

Thalhimer Realty Partners purchased this 66 unit apartment complex in 2012 after it had fallen into foreclosure and went to auction.

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9122

Regency Centers-Gayton-The Village-Hanover Village

Regency Centers, which owns a portfolio in Richmond consisting of three centers totaling close to 350,000 SF, needed third party leasing/local representation.  In June 2013, James Ashby IV of...

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23005
Virginia Blood Services

Virginia Blood Services

Relocation of headquarters office, donor center, lab and warehouse operation to new corporate facility. 150 employees, 60,000 SF.

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717

Humana | Partners in Primary Care

Humana was looking for retail anchored, 1st floor space, grocery and pharmacy anchored centers preferred. Location was specific to age and income with significant parking and signage.

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29521
Three Willows Townhomes

Three Willows Townhomes

Market data gave all indications that luxury townhome community should be able to support additional rental income for the investors through increase occupancy and rental rates.

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754

Phillips Pet Food & Supplies Lease Administration

Phillips Pet hired Thalhimer’s Property Services team to oversee their lease property portfolio. Phillips Pet Food & Supplies is a premier pet food and pet supply distributor, servicing pet...

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29611
exterior view of United Technologies building

United Technologies

United Technologies required expansion space due to an acquisition. After an exhaustive two-state search, an entire building of 198,898 sf was controlled.

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6516

CarMax

Evaluate market and trade areas. Possibly secure 4-6 acre CarMax retail location in Harrisonburg market

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9082

Symantec

Exclusive agent for Symantec Corporation (NASDAQ:SYMC) in the disposition of a vacant Class A suburban office building in the Jefferson Center for Research and Technology in Newport News, VA.

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9123

Shoppes at Westgate - Phases I and II

Our assignment was to secure tenancy in a 50,000 SF lifestyle center; pre-leasing required to secure permanent financing.  The center has maintained 98% occupancy levels since 2004.

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23500
Coliseum Marketplace

Coliseum Marketplace

Lease 40,000 SF vacated by Frank’s Nursery with mix of national and local tenants.

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718