CarMax adding office space on the canal


CarMax’s downtown office. (BizSense file photo)

Resident used-car giant CarMax is increasing its presence in downtown Richmond.

The Goochland-based firm has signed a lease for 14,000 square feet in the Canal Crossing building at 101 S. 15th St. in Shockoe Slip.

The new space will add to the company’s nearby Digital & Technology Innovation Center, which it opened in 2016, housed in 32,000 square feet at the Lady Byrd Hat building.

CarMax spokeswoman Jennifer Bartusiak confirmed the Canal Crossing deal and said the additional office space will be for its product and marketing departments, which currently are spread across its Goochland headquarters in West Creek Business Park and the Lady Byrd Hat building.

7 hills building

CarMax will open a new office at the Canal Crossing building in the Slip. (BizSense file photo)

Bartusiak said that operations at the Lady Byrd Hat building will continue and that CarMax aims to move into Canal Crossing this summer. Cost was not disclosed. The company said the deal will give it room for about 180 employees downtown.

Both the Lady Byrd Hat and Canal Crossing buildings are owned by local developer Margaret Freund’s Fulton Hill Properties, which this year filed plans to add apartments on top of Canal Crossing.

Calls to Freund were not returned by press time. The Times-Dispatch first reported CarMax’s Canal Crossing deal.

Other tenants at Canal Crossing include GeoDecisions, RRMM Architects, Bon Secours, Buffalo Wild Wings and ShipLock Brewing. Earlier this year, Baskervill announced it’ll be leaving its space there after 17 years for the James Center.

CarMax also recently hired downtown-based ad firm The Martin Agency to handle its advertising.

In its most recently filed earnings report, CarMax reported $4.3 billion in revenue and a profit of $599 million for the fourth quarter of fiscal year 2018. It has two stores in the Richmond region and 209 nationwide.

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