An 80-acre mixed-use development off Staples Mill Road has landed another big commercial tenant.
Longtime local insurance agency Rutherfoord has signed a lease to relocate to Gumenick Properties’ Libbie Mill-Midtown project.
The move will consolidate Rutherfoord’s downtown office and the Innsbrook office of its KSPH employee benefits subsidiary.
The firms will settle into the development by the spring of 2016, occupying 30,000 square feet of a new 43,000-square-foot retail and office building. Work is slated to begin on the new building, located at 4900 Libbie Mill East Blvd., this spring.
“Libbie Mill came up as a good way for us to find a midpoint between our two offices, between the West End and downtown,” Rutherfoord spokeswoman Katie Wall said.
Rutherfoord is leaving its downtown office at 1001 Haxall Point, and KSPH is vacating its space at 4191 Innslake Drive. Rutherfoord was founded in 1916 and is now part of Marsh & McLennan Agency, a subsidiary of global insurance brokerage Marsh LLC. Rutherfoord acquired KSPH in 2012.
The firms will bring with them to Libbie Mill more than 100 employees and will take over a portion of the ground floor and the entire second floor of the new two-story building. The additional 13,000 square feet on the ground floor will be available to retailers.
“We appreciate the potential (Libbie Mill-Midtown) has,” Wall said. “And the location itself, how accessible it is, was ideal for us.”
Gumenick spokesman Ed Crews declined to give specifics about Rutherfoord’s lease, but described it as long-term.
Whiting-Turner is the general contractor on the project, while Commonwealth Architects will design the exterior and Evolve Architecture will handle the interior design.
“We believe that this demonstrates the appeal of Libbie Mill-Midtown,” Crews said. “This is going to be a vibrant community.”
Crews declined to say how much it will cost Gumenick to construct the latest building, which will be Libbie Mill’s second office and retail space. Gumenick and the Richmond Memorial Health Foundation occupy the first, which is located just south of Rutherfoord’s new building.
CBRE | Richmond represented both Gumenick and Rutherfoord in the leasing.
Rutherfoord will also be joining Southern Season, a high-end grocer that opened in its 53,000-square-foot Libbie Mill store last summer. And construction on Henrico County’s new 50,000-square-foot library is currently underway in the development.
When completed, Libbie Mill-Midtown will include 160,000 square feet of office and retail space, 994 homes and 1,096 apartments.
“The idea is that this place is not just an office park, it’s got office, retail, restaurants, home, a library,” Crews said. “As we go down the road and people make a business home there, they may also make a residential home.”
This latest Libbie Mill-Midtown announcement comes only a few days after the development was awarded Project of the Year by the Greater Richmond Association for Commercial Real Estate.