Richmond, Va. – June 25, 2024
Commonwealth Commercial Partners, a leading commercial real estate firm headquartered in Richmond, Va., is thrilled to announce that it has been awarded management of a 790,322 square foot office portfolio in the Dallas-Fort Worth metroplex. Commonwealth will be working on behalf of the Cherng Family Trust (CFT), which is the multi-generational family office and investment firm of Panda Express founders, Andrew and Peggy Cherng.
Andrew and Peggy Cherng fled Communist China shortly after World War II and opened their first restaurant in southern California. Today, Panda Express – an American fast-food restaurant that specializes in American Chinese cuisine – has over 2,200 locations and is the largest Asian-segment restaurant group in the U.S.
Founded in 2001, the Cherng Family Trust pursues a family-owned, long-term, flexible, and sustainable approach to wealth management and values by making direct private equity and fund investments across all industries, while actively operating and investing in a large real estate portfolio.
“It is an honor to be entrusted to manage these significant commercial real estate properties in DFW, one of the largest markets in the country,” said Scott Francis, Managing Director of Texas. “Many of CFT’s core values align with our own, including inspiring people to grow and investing in communities to better lives… all the while creating sustainable results to continue that mission indefinitely, and that’s where Commonwealth plays a vital role. Andrew and Peggy Cherng prove that the American Dream is alive and well!”
“How you do anything is how you do everything!” from Jessica Russell, Property Management Manager at Cherng Family Trust.
About Commonwealth Commercial Partners, LLC
Commonwealth Commercial Partners (CCP) is a leading full-service commercial real estate firm headquartered in Richmond, Virginia with offices in Atlanta, Charlotte, Columbus, Greenville, Hampton Roads, Houston, Jacksonville, Kansas City, Minneapolis, Nashville, Norfolk, Raleigh/Durham, St. Louis, and Tampa. CCP has expertise in Commercial Sales & Leasing, Property & Asset Management, Construction Management, Hospitality Management, Project Management, Land Sales, and Forestry Consulting.