VCU signs lease at Willow Lawn

The Shops at Willow Lawn will soon have a new set of customers in need of lattes, sandwiches and office supplies: 250 VCU employees.

VCU Health Systems has leased 42,000 square feet at Willow Lawn.

Carlos Brown, executive director of support services and planning for the hospital, said in an email that the hospital was consolidating two offices, billing and financial support, from three buildings across Richmond.

Brown said VCU picked the location because of “ease of access and surrounding amenities.”

Brown would not say how much VCU is paying for the space but said all the employees would move in by the end of May.

Federal Realty Trust brokered the deal. The move means that the West Tower at Willow Lawn is 100 percent occupied, said Andrea Simpson, director of marketing at Federal Realty.

There is still 2,500 square feet of office space at the Willow Lawn shopping center.

According to CoStar, there is 2.86 million square feet of total office space in the Willow Lawn submarket. In the first quarter, the vacancy rate dropped to 2.9 percent from 3.3 percent.

 

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