Williams Mullen Center set to open in mid-June
- May 19, 2010
Richmond’s newest office tower is nearly finished and will be move-in ready by mid-June. “We’re coming down to the home stretch. We’re in the punch list phase,” said Chris Odle, an executive with the Virginia Beach office of Armada Hoffler, the project’s developer.
Odle showed off the $62 million building during a sneak-peak tour today sponsored by the Richmond chapter of Commercial Real Estate Women. About 40 members milled about the black, gray and white marble lobby and were treated to expansive views of downtown and the James River from the building’s 16th story. (Technically, the building is 15 stories since there is no unlucky13th floor).
The 210,000-square-foot office at the corner of 10th and Canals streets will be the new home of Williams Mullen. The law firm plans to move 270 employees to the building in about three weeks.
Williams Mullen is leasing 145,000 square feet. That leaves only two unoccupied floors. Odle said Armada Hoffler is negotiating with a tenant now for one of the floors. The Class A property also has 5,100 square feet of retail, which Odle says will probably will be leased by a restaurant or a retailer.
The project, which includes 114 private parking spaces and shared access to an adjoining parking garage, was financed through a syndicated loan with three banks participating. It presented several easement challenges, recalled Odle. For instance, the design of the building is angular rather than square, because it couldn’t block the viewshed to the James River from the James Center — the land’s original owner. The James Center, located down the street, was developed by the Faison Co., which is no longer in business. “That’s why we have this odd-shaped building,” he said.
Armada Hoffler also worked with the city on the project. Odle said Richmond paid for streetscape improvements and some updates to the adjoining RMA garage.