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April 7, 2017

Commercial Realtor bullish about Marshall’s future

Photo/Don Del Rosso
CRES Social Media Director Tobin Maynard, owner Bill Chipman and Realtor Eric Morrison at the Marshall office.
I think there’s a lot of potential. It’s a growth area; it’s got a small town; it’s got great access to a road network. So, it’s just a matter of time.
— Bill Chipman, commercial Realtor
CRES Inc.
• What: Commercial real estate firm

• Where: 13 Culpeper St., Warrenton; 8354 Main St., Marshall.

• Owner employee: Bill Chipman

• Independent contractors: Eric Morrison, associate Realtor, Marshall office; Tobin Maynard, social media director

• Phone: 540-347-2610 in Warrenton; 540-364-8080 in Marshall

• Email: .(JavaScript must be enabled to view this email address)

• Website: www.cresincorporated.com

• Facebook: Click here
By .(JavaScript must be enabled to view this email address)
Staff Journalist
To the veteran commercial real estate agent, Marshall seemed like the obvious place to open a new office.

“I think there’s a lot of potential,” Bill Chipman, owner of Warrenton-based CRES Inc., said of the Northern Fauquier village. “It’s a growth area; it’s got a small town; it’s got great access to a road network. So, it’s just a matter of time.”

Mr. Chipman’s Commercial Real Estate Services (CRES) in October opened the Marshall office at 8354 Main St. He pays $600 a month to rent 300 square feet in the two-story stucco building.

Realtor Eric Morrison, who joined the firm last summer, runs the one-person Marshall operation.

Mr. Chipman heads the firm’s Warrenton office at 13 Culpeper St.

“Eric’s a good fit,” because of his knowledge of the area and construction background, Mr. Chipman said.

Mr. Morrison grew up near Marshall and has 30 years’ experience in the commercial and residential construction business.

Making a career change about three years ago, the Warrenton resident got his real estate license and sold residential property before joining CRES.

“I think being from Marshall is a huge advantage,” said Mr. Morrison, 53. “I know the area, and I know a lot of people here.”

His commercial construction experience also allows him to advise clients about properties that would best suit their goals, Mr. Morrison said.

“It can tell them about the site and drainage,” he said. “I can explain whether the building can be repurposed for what they want, if the changes they want are viable.”

The company has two Marshall listings — a 9-acre parcel on Old Stockyard Road next to the shopping center and a 2.2-acre-parcel on Zulla Road, across from the Fauquier Livestock Exchange.

Both properties have commercial zoning.

A prospective owner recently put a contract on the 9-acre property, listed at $2.2 million, Mr. Chipman said.

He declined to identify the potential buyer or use. But, “I think it’s going to be good for Marshall.”

Other commercial development opportunities abound along Whiting Road and at the 17/66 Business Park at the southern and eastern edges of Marshall’s “service district,” Mr. Morrison said.

While the Marshall commercial real estate market “is not exploding,” Mr. Chipman believes “it’s just a matter of time” before the village grows as envisioned by Fauquier’s land-use plan.

But, Marshall’s decades-old water quantity and quality problems must get resolved, he said.

The county board of supervisors and the Fauquier County Water and Sanitation Authority last week discussed a range of utility issues, including options to address Marshall’s water challenges. An independent authority, WSA owns and maintains the village’s water and sewer systems.

Mr. Chipman, 54, remains confident Marshall’s water problems “will get figured out.”

Marshall’s strengths include Main Street, the mix of new and established businesses and Fairfax-based Van Metre Companies’ plans to begin construction of 351 homes at the village’s western end, he said.

Van Metre hopes that home sales will begin by year’s end, with the first buyers moving in during the first quarter of 2018.

“It’s going to take a while for all of this to fill out,” Mr. Chipman said of Marshall’s Main Street, which he put at twice the length of Warrenton’s. “I think, for lack of a better phrase, it’s going to grow organically.”

Mr. Morrison believes Main Street’s newest businesses already have raised Marshall’s profile.

“I think Main Street, with the businesses coming in — Red Truck Bakery, Gentle Harvest — that Marshall is becoming more than an exit you pass on (Interstate) 66,” he said. “It’s making people rethink Marshall, stop for a bite to eat, see what’s happening here. And, I think that generates more business.”

To meet his company’s growing internet needs, Mr. Chipman last fall contracted Tobin Maynard, 40, of Bealeton to direct CRES’s social media marketing efforts. Mrs. Maynard works at the Warrenton office.

“Signage is great” for advertising commercial properties, Mr. Chipman said. “But, everything now has to go through social media.”

The expansion-minded Mr. Chipman in 2018 plans to open a “small office” at Vint Hill.

“I think there’s a lot of opportunity there,” he said, noting French-based OVH’s plans to initially invest at least $47 million at Vint Hill in a data center and related uses that would create more than 50 high-paying jobs. “I think there are a lot (prospects) that need representation.”

Born and raised in Bethesda, Md., Mr. Chipman has 30 years of commercial real estate sales experience.

He moved to Warrenton in 1992. For the next seven years, Mr. Chipman worked for three commercial real estate firms in region.

In 1999, he and Steve Athey, who served on Warrenton’s town council and board of zoning appeals, founded CRES. Mr. Chipman became the company’s sole owner after Mr. Athey’s death in 2005.

During the last 20 years, CRES has participated $200 million in real estate sales, according to the company’s website.

Besides sales, CRES services include leasing and appraisals.


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BJ · April 9, 2017 at 12:31 pm
Yep, just what we need, more development. And a water making machine.
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