The guardian of Virginia’s alcohol distribution and sales may be striking a deal with the real estate arm of one of Richmond’s most well-known businessmen.
A collection of properties owned by Bill Goodwin’s Riverstone Properties is being floated to state legislators as the preferred site for a new headquarters compound for the Virginia Department of Alcoholic Beverage Control near the intersection of Pole Green Road and Interstate 295 in Hanover County’s Mechanicsville area.
ABC, along with the state Department of General Services, announced last week they had selected a proposal from Tennessee-based developer H&M Co. to construct a 95,000-square-foot office building and nearly 315,000-square-foot warehouse on the site, 10 miles from ABC’s existing complex at 2901 Hermitage Road in the city.
The agencies did not specify the sites they are considering, but Riverstone principal Chris Corrada said in an email Monday that the firm owns the property under consideration. He would not comment about further details, including the amount of land ABC is eyeing or if any of the parcels are under contract.
Riverstone owns nearly a dozen properties totaling 113 acres within the vicinity of the interchange that connects to I-295, according to county property records.
Some of the largest pieces of the property – totaling nearly 50 acres – is assembled along a service road next to AMF Bowling Co.’s headquarters at 8100 AMF Drive.
ABC and DGS said Friday they began negotiations in December with H&M, which specializes in the design, construction and financing of distribution and manufacturing facilities nationwide.
Joe Damico, DGS director, said the Hanover County site was chosen because it was the most cost effective and best fit ABC’s needs.
DGS issued requests for proposal for the project in June 2017, asking private developers to submit plans that could include leasing existing facilities, building new facilities, or renovating the current office and warehouse location.
The option to move and build from scratch was ultimately chosen and ABC and DGS received more than a dozen proposals. The agencies would not identify the other developers or proposed sites.
In an email, DGS spokeswoman Dena Potter said the search for property remains an “active acquisition process,” and specific proposals are not available until an agreement has been executed.
For the project to move forward, it must next be approved for funding by state legislators. Approval and funding is projected to move forward in spring 2018, with a move-in date slated for spring or summer 2021.
The new facilities could eventually free up ABC’s existing Hermitage Road site, which has been discussed as a potential spot for a new baseball stadium that could be shared by the Flying Squirrels and VCU.