Work is finishing up at Gateway Plaza. Photos by Michael Schwartz.
A local insurance firm is moving on up into downtown’s newest office tower.
BCG Cos. plans to relocate its headquarters from Shockoe Slip up to the top floor of Gateway Plaza, an 18-story building nearing completion at Eighth and Cary streets.
BCG, which provides life insurance, estate planning and wealth transfer services for high net worth individuals and corporations, plans to take 6,700 square feet in the new building, where its neighbors will include anchor tenant McGuireWoods, Bill Goodwin’s CCA Industries, and TowneBank.
The company will vacate about the same amount of space on the fourth floor of the Turning Basin building at 111 Virginia St., where it has operated for the last 13 years.
Eric Hieber, a partner at BCG, said the move was in part to get a seat in the city’s newest tower but also to be close to companies it works with regularly, particularly McGuireWoods.
“We love our space here, but we do a lot of work with a lot of attorneys and financial advisers and accounting firms, and we feel like we need to be in the middle of downtown,” Hieber said. “It’s always fun to be in the new, shiny space.”
BCG is working with local architecture firm SMBW to design its space, and Trent is the general contractor. It will look to be settled into Gateway Plaza by December.
Hieber, along with partners Jeri Turley and Jim Belk, has a total of 14 employees in Richmond and at an office in Chevy Chase, Maryland. Belk founded the company in 1984. It is part of M Financial Group, a co-op of sorts of 130 insurance firms.
BCG is the latest tenant to grab an office in the newest addition to the Richmond skyline. The 307,000-square-foot tower is being developed by Chicago-based Clayco for about $124 million. It broke ground in 2013.
McGuireWoods was the first to sign on with 205,000 square feet, and the firm has begun moving into some of its space in the building.
CCA Industries will join BCG on the top floor, and Hampton Roads-based TowneBank will set up its Richmond headquarters in the building with a branch on the ground floor and offices on the seventh.
The building’s eighth and ninth floors are still available for lease, totaling 51,450 square feet.
“We hope to see some activity here before too long,” Clayco’s Larry Chapman said of the remaining two floors. “Buildings are funny; there are a few people who will lease it before they see it, and those who want to see it before they lease it.”
Colliers International broker Andrew Ferguson, who is handling leasing for the building, said rent rates are being offered at just less than $30 per square foot per year.
He said interest in the remaining space has come from other downtown tenants, as well as from the suburbs and out of town.
Colliers is also in talks with potential tenants for the building’s ground-floor restaurant space.
Work is finishing up at Gateway Plaza. Photos by Michael Schwartz.
A local insurance firm is moving on up into downtown’s newest office tower.
BCG Cos. plans to relocate its headquarters from Shockoe Slip up to the top floor of Gateway Plaza, an 18-story building nearing completion at Eighth and Cary streets.
BCG, which provides life insurance, estate planning and wealth transfer services for high net worth individuals and corporations, plans to take 6,700 square feet in the new building, where its neighbors will include anchor tenant McGuireWoods, Bill Goodwin’s CCA Industries, and TowneBank.
The company will vacate about the same amount of space on the fourth floor of the Turning Basin building at 111 Virginia St., where it has operated for the last 13 years.
Eric Hieber, a partner at BCG, said the move was in part to get a seat in the city’s newest tower but also to be close to companies it works with regularly, particularly McGuireWoods.
“We love our space here, but we do a lot of work with a lot of attorneys and financial advisers and accounting firms, and we feel like we need to be in the middle of downtown,” Hieber said. “It’s always fun to be in the new, shiny space.”
BCG is working with local architecture firm SMBW to design its space, and Trent is the general contractor. It will look to be settled into Gateway Plaza by December.
Hieber, along with partners Jeri Turley and Jim Belk, has a total of 14 employees in Richmond and at an office in Chevy Chase, Maryland. Belk founded the company in 1984. It is part of M Financial Group, a co-op of sorts of 130 insurance firms.
BCG is the latest tenant to grab an office in the newest addition to the Richmond skyline. The 307,000-square-foot tower is being developed by Chicago-based Clayco for about $124 million. It broke ground in 2013.
McGuireWoods was the first to sign on with 205,000 square feet, and the firm has begun moving into some of its space in the building.
CCA Industries will join BCG on the top floor, and Hampton Roads-based TowneBank will set up its Richmond headquarters in the building with a branch on the ground floor and offices on the seventh.
The building’s eighth and ninth floors are still available for lease, totaling 51,450 square feet.
“We hope to see some activity here before too long,” Clayco’s Larry Chapman said of the remaining two floors. “Buildings are funny; there are a few people who will lease it before they see it, and those who want to see it before they lease it.”
Colliers International broker Andrew Ferguson, who is handling leasing for the building, said rent rates are being offered at just less than $30 per square foot per year.
He said interest in the remaining space has come from other downtown tenants, as well as from the suburbs and out of town.
Colliers is also in talks with potential tenants for the building’s ground-floor restaurant space.