Arrow Electronics’ facility at 11890 N. Lakeridge Parkway in Ashland will be shut down by October. (Michael Schwartz)
A publicly traded electronics distribution giant is closing its Richmond-area operations, eliminating dozens of local jobs and leaving a big chunk of industrial space up for grabs.
Colorado-based Arrow Electronics’ facility at 11890 N. Lakeridge Parkway near Bass Pro Shops in Ashland will be shut down by October, company spokesman John Hourigan confirmed Tuesday.
The facility employs about 72 workers, who will be offered the chance for positions elsewhere in the company, Hourigan said.
The company will vacate its 83,000 square feet in the Enterchange at Northlake business park, for which it signed a lease in April. Arrow took over the space in 2012 when it acquired the company that occupied it, Hourigan said.
He said the Ashland facility is part of Arrow’s so-called value recovery business, meaning it takes in used electronics and harvests the useful parts for resale.
He said the decision to close down in Ashland was made after Arrow analyzed ways to be more efficient in its network of similar facilities, the closest of which are in Atlanta, Columbus, Ohio and Hartford.
“It’s not just picking on Ashland, it was looking across the entire network,” Hourigan said, adding that Arrow’s regional clients will continued be serviced by a mobile contractor.
Arrow is a Fortune 500 firm with headquarters in the suburbs of Denver and 18,500 employees worldwide. Its two main business segments are the distribution of electronics components and computing systems. It had $23 billion in revenue in 2015.
Brokers Evan Magrill and Dean Meyer of Cushman & Wakefield | Thalhimer handle leasing at the Enterchange at Northlake. Magrill said the four-building park is currently 100 percent leased.
The industrial park is adjacent to the site of the long-planned Outlets at Richmond.
Arrow Electronics’ facility at 11890 N. Lakeridge Parkway in Ashland will be shut down by October. (Michael Schwartz)
A publicly traded electronics distribution giant is closing its Richmond-area operations, eliminating dozens of local jobs and leaving a big chunk of industrial space up for grabs.
Colorado-based Arrow Electronics’ facility at 11890 N. Lakeridge Parkway near Bass Pro Shops in Ashland will be shut down by October, company spokesman John Hourigan confirmed Tuesday.
The facility employs about 72 workers, who will be offered the chance for positions elsewhere in the company, Hourigan said.
The company will vacate its 83,000 square feet in the Enterchange at Northlake business park, for which it signed a lease in April. Arrow took over the space in 2012 when it acquired the company that occupied it, Hourigan said.
He said the Ashland facility is part of Arrow’s so-called value recovery business, meaning it takes in used electronics and harvests the useful parts for resale.
He said the decision to close down in Ashland was made after Arrow analyzed ways to be more efficient in its network of similar facilities, the closest of which are in Atlanta, Columbus, Ohio and Hartford.
“It’s not just picking on Ashland, it was looking across the entire network,” Hourigan said, adding that Arrow’s regional clients will continued be serviced by a mobile contractor.
Arrow is a Fortune 500 firm with headquarters in the suburbs of Denver and 18,500 employees worldwide. Its two main business segments are the distribution of electronics components and computing systems. It had $23 billion in revenue in 2015.
Brokers Evan Magrill and Dean Meyer of Cushman & Wakefield | Thalhimer handle leasing at the Enterchange at Northlake. Magrill said the four-building park is currently 100 percent leased.
The industrial park is adjacent to the site of the long-planned Outlets at Richmond.