Breaking News: CarMax finds its spot downtown

This will be CarMax's first office downtown.

This will be CarMax’s first office downtown.

After decades in the suburbs, a local Fortune 500 is adding a downtown office space it hopes will attract new tech-savvy talent.

CarMax has signed a lease with Fulton Hill Properties for a 26,000-square-foot space in the Lady Byrd Hat factory building at 140 Virginia St.

The space, which previously housed the music venue Toad’s Place, spans two floors and a mezzanine level in the historic building along the Richmond Canal Walk.

The space will be used to house the company’s new digital and technology innovation center. In conjunction with the lease, the company is also hiring more than 50 positions, some of which would be located in the downtown office.

The office represents the used car retailer’s first foray into downtown Richmond. It is headquartered in a 250,000-square-foot complex in the West Creek office park in eastern Goochland County. The 130-acre site houses 1,086 employees.

CarMax began its search for downtown office space last year. It worked with Cushman & Wakefield | Thalhimer on the search, according to Fulton Hill Properties.

Stay tuned to BizSense on Wednesday for more on this story.

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