Ten years after its previous section was completed, a Henrico County office park is entering its final phase of development.
Site work to expand the Gaskins Professional Office Park is underway at the intersection of Three Chopt and Gaskins roads. Plans call for four buildings totaling 30,100 square feet.
The work picks up where developer Katherman & Co. left off in 2008, when the Midlothian-based firm started development on the park as its first foray north of the James River.
Ten years later, the company began to explore the park’s next phase of development after some initial buyers began reselling their units, said Tucker Dowdy of Commonwealth Commercial, who is marketing the new offices for sale with fellow Commonwealth broker Russell Wyatt.
Unlike other office parks that offer spaces for rent, the Gaskins park is an office condo development in which occupants purchase spaces rather than engage in a lease. The park is home to several businesses including Pediatric Headache Center of Richmond and Altius Family & Sports Med.
Of the four buildings planned, Dowdy said, one has been sold to an undisclosed medical user that is set to take over a 4,000-square-foot building.
Additionally, pad sites are being readied for two one-story buildings – one totaling 8,400 square feet and the other totaling 6,600 square feet. A two-story, 11,000-square-foot building facing the intersection will round out the development, with about 9,000 square feet on the first floor and 2,000 square feet on the second level, Dowdy said.
“We see this as an opportunity for an attorney’s office, financial advisors, medical users or wealth advisors,” Dowdy said.
Pricing for a condo unit starts at $235 per square foot, Dowdy said. He said the units are turn-key and users can customize the buildout.
Katherman & Co. is serving as general contractor on the project. Ashland-based Keith Hunter & Associates completed the architectural design.
Katherman & Co. has several office condo developments around the Midlothian and Woodlake areas of Chesterfield County, including the Woodlake Office Condos and Railey Office Park along Midlothian Turnpike.