CoStar subleases portion of Owens & Minor office at Riverfront Plaza

CoStar is moving into 51,000 square feet at Riverfront Plaza, where it is subleasing the space from Owens & Minor. (BizSense file)

As it continues to plot out a potential new-construction riverfront office tower in Richmond, commercial real estate data giant CoStar Group has signed on for some extra downtown space in the interim.

The company announced Tuesday that it is taking over 51,000 square feet on the ninth, tenth and eleventh floors of Riverfront Plaza’s east tower, space it is subleasing from Owens & Minor, which departed from the building last year in favor of a permanent remote operation for its call center employees.

With the move into Riverfront Plaza, CoStar said it expects to add 200 employees to its Richmond workforce of more than 1,000 people.

The bulk of the company’s Richmond operations are at 501 S. 5th St., which it bought in January for $130 million. CoStar also dropped $20 million for a neighboring 4-acre parcel at 600 Tredegar St. in August, on which it is pondering an office tower.

“As a fast-paced company with plans for further expansion, this new space will allow us to comfortably grow our team, create job opportunities and tap into the local, rich talent pool, allowing for increased engagement and networking opportunities in a city we are proud to call home,” Senior Vice President of Global Research, Analytics and News Lisa Ruggles said in the company’s announcement on Tuesday.

A CoStar spokesman didn’t respond to requests for further comment Tuesday afternoon.

Mechanicsville-based Owens & Minor signed a lease on a total of 90,000 square feet in Riverfront Plaza in 2017. Upon pulling the plug on the location late last year and putting the space up for sublease, it had leased out 40,000 square feet of that total. The CoStar deal fills out the rest of the subleased space.

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John Jones
John Jones
10 months ago

Toxic company culture and they have such a lock on commercial real estate information as a monopoly BizSense probably won’t even post this comment.