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October 22, 2020 by Nathan Hughes

A Location Fit For a Gym

Matt Bahen, S3E Performance Fitness founder, was no stranger to the workings of the fitness world prior to starting his business. While in the Navy Reserves, he enjoyed assisting gym enthusiasts in his free time. Although he never envisioned himself being a full-time CrossFit coach, his son’s birth in 2014 changed all of that and he found himself craving the flexibility of running his own business.

Leaving behind the gym he co-owned, Matt started a new adventure. “I left where I was and started S3E Performance Fitness in my garage for about 18 months.”

He steadily built his membership and quickly realized that he would need a bigger space, more than what his garage could offer. However, he knew it would be a challenge to find the perfect space. A CrossFit gym has certain requirements that most retail space could not offer. Matt’s prior experience brought different concerns to the table, most notably the possibility of noise complaints — dropping heavy weights on the ground is different than your average loud music.

When Matt was ready to start looking for commercial space, he knew exactly who to reach out to. He and Veronica had gotten to know each other through networking events, and he was confident that the Sperity team would be able to help him find the perfect location.

After looking at a few spaces, the location that they decided on met the needs Matt was searching for. From sound reverberations due to slamming barbells, to having more space to spread out his equipment, the Staples Mill locations allowed him exactly what he needed to keep his business booming. His old garage could only house 4 clients at a time, but the new location holds double that amount.

S3E Performance now has high ceilings and better lighting, as well as bathrooms that aren’t in his own home. More perks included an actual office space and conference room, where on occasion he hosts networking events.

The pandemic brought on new challenges for Matt, but he was able to pivot his business model to ensure the safety of his employees and clients.

“Our members were able to safely borrow our equipment. When we were able to open back up, we had enough space for people to drop the equipment off and clean it all.”

All the machines can be spread out which helped the gym and its members adapt to COVID guidelines. Having supportive neighbors also meant that outdoor classes in the parking lot could be hosted.

Matt Bahen has learned so much from his time running S3E Fitness at his current location. When the time for expansion comes after the end of his lease, he plans on using the services of Sperity once again to get a larger space.

“I would recommend Sperity to anyone.”

S3E Performance Fitness is located on 8002 Staples Mill Rd, Richmond, VA 23228. For more information visit https://s3e-performance-fitness.com/

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.

July 27, 2020 by Nathan Hughes

Ipanema Cafe

Ipanema Cafe. It’s an iconic Richmond restaurant at 917 W. Grace Street, nestled in a basement with a small patio, among Virginia Commonwealth University buildings and frequented by students. It boasts an entirely vegetarian and vegan menu, and has from the beginning — way before the trend picked up in recent years — and is often the go-to spot for students and locals living in The Fan.

Recently out of college, Kendra Feather found herself with the opportunity to take over the lease from her then-boss at The Bidder’s Suite restaurant where she waited tables. So she took a risk and seized the moment and Ipanema Cafe was born.

“I was pescatarian,” Kendra shared, “but I just felt like [vegan and vegetarian] was something that wasn’t available in the market at the time. It forced me to learn about other ingredients.”

21 years and several businesses later, Kendra had become one of Richmond region’s leading restaurateurs. But she was beginning to feel like she was no longer the right person for the job at Ipanema.

“I don’t really relate to the 20 somethings that are frequenting Ipanema and I didn’t feel like I was doing a great job anymore.”

Of the restaurants she had, she decided this one made the most sense to sell.

Kendra knew all too well the difficulties that go into opening a restaurant and she wanted to make sure that whoever she sold Ipanema to was going to be the right fit. She talked with a couple of people before deciding on working with Nathan Hughes and the Sperity team. Her and Nathan would often chat at Garnett’s, another Richmond restaurant staple located less than a mile away on Park Avenue, also owned by Kendra.

“I’ve known him forever…Nathan has always been a source of information and help whenever I needed it.”

Kendra had a few requirements for new ownership, and she wasn’t looking to sell to the highest bidder. She was looking for the right person and the right situation. She was willing to take her time for that to happen. She also wanted to ensure that whoever took over would keep the current staff.

That’s when she met Seth Campbell. A recent University of Virginia grad, Kendra felt Seth was the perfect candidate. He was interested, he appreciated the financial support, and Kendra felt he was an all-around sweetheart who she felt good about leaving her staff with. She was sold, that is, Ipanema was. In early 2020 the deal became official.

Under Seth, Ipanema has remained a vegan and vegetarian restaurant. While he hopes to bring more events like trivia and live music to the space when it’s safe to do so, he wants to make sure that the restaurant remains an iconic Richmond staple.

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

April 4, 2020 by admin

What Can I Do to Increase My Pool of Prospective Tenants?

Owning rental properties can be a great source of income for many people. However, it can be challenging to attract quality tenants. If you follow a few useful tips, you can increase the number of people who apply to rent from you. Here are some things you should do to make sure you attract the cream of the crop when it comes to tenants.

Regular Maintenance

Keeping up with various maintenance tasks around the properties can provide a few key benefits you might use to attract more tenants. For one, it will help you make sure you don’t get overwhelmed by time-consuming or costly repairs that turn into a big job. Staying on top of things can give you more time to improve your reputation as a landlord and find additional renters. Scheduling regular maintenance in occupied properties shows the current tenants that you care about the state of their home and their well-being. You might be able to do much of this yourself. However, you should call in some experts to avoid overspending or wasting time on things that are hard to fix.

Build Your Reputation

A solid reputation can work wonders in most industries, and this is something that is true for landlords as well. In a way, your main job as a landlord is to provide not only four walls and a roof for tenants. You also need to give them some peace of mind and the certainty that you are there to help them with some of the major issues that might crop up in or around the property. People don’t just look for information about the state of the home or apartment they are hoping to rent from you. Consider that 84% of people trust online reviews as much as personal recommendations when deciding who they want for a landlord. Building a good reputation leads to positive word of mouth from people in the area. This kind of reputation management is something that can increase the number of tenants you get to the house.

Handle Security Deposits

Handling security deposits is part of the job of being a landlord. Since returning them is one of the last things you might do for a tenant, establishing a proper way of handling them can improve overall satisfaction among your tenants and lead to more rentals based on their recommendations. It’s important to avoid typical mistakes when it comes to handling these financial matters.

Getting more tenants in properties you own means more responsibility, but it also means more revenue in your pocket. If you’re able to keep both empty and occupied properties free of any maintenance woes and present yourself as a landlord to be trusted, you can become the ideal choice for new renters looking for a place to call home.

If you’re looking for a new property to rent out, see what properties we have for sale here!

March 21, 2011 by Nathan Hughes

getting things situated

bear with me for the moment…just exploring making a new, self-hosted version of the blog — so things may look kind of funny for a little bit as I make adjustments and tweaks here and there

I’d love to hear what WordPress plug-ins you like or don’t like as I make this adjustments. What have you found works well on your blog?

May 13, 2010 by Nathan Hughes

Help the Byrd Theatre win $250,000 from Pepsi

There is an exciting contest going on over the next few months where “Pepsi is giving away millions to fund great ideas”. (wording straight from the Pepsi Refresh Project website)

What’s even more exciting is that Richmond’s own landmark movie palace, the Byrd Theatre, is throwing their hat in the ring for one of the top prizes for $250,000 to put towards renovations throughout the building — new seats, improved bathrooms, and increased accessibility.

To kick off the project, the folks at the Byrd Theatre Foundation are reaching out to the community, asking anyone that has ever enjoyed their time at the Byrd to share their fondest memories:

The Foundation will be hosting its own competition seeking two stories to include in the Pepsi video submission. Other notable submissions will be released via YouTube throughout the month of July to encourage voting and participation. A Flickr stream will be created to allow for public participation and documentation of memories and events.

Contest submissions are due May 26th, 2010 and winners will be announced May 28, 2010. The winners will be contacted via email and filmed shortly after so the video can be ready by the submission deadline. Submissions should be sent to stories@thebtf.org. Those that wish to submit a story via YouTube should send an email that includes contact information and the YouTube URL.

[from a press release sent out yesterday morning, which can be found here]

So email your memories/story ideas to ~~Brandon Laroussini at brandonl@thebtf.org~~ [edit: updated email address, send to: stories@thebtf.org] and relive those memories — and at the same time, help secure the future of the Byrd Theatre!

July 24, 2007 by Nathan Hughes

Don’t Shortpay Your Workers!

You know you don’t want to play with the federal minimum wage laws. So keep in mind that there is a new rate starting today!

The old rate was $5.15, and was enacted in 1997.

The new rate is $5.85.

For the next two summers, 2008 and 2009, the rate will jump by $0.70. After those two increases, the minimum wage will be $7.25.

I guess I didn’t follow the VA State Legislature well enough to notice that their minimum wage bill didn’t pass. If it had, the minimum wage in VA would be $6.50 already.

Regular Maintenance

Build Your Reputation

Handle Security Deposits

SPERITY REAL ESTATE VENTURES