Education consulting company EAB plans to consolidate its local offices at 11011 W. Broad St. near Innsbrook, which was formerly occupied by SunTrust. (BizSense file photo)
The Henrico-based arm of a D.C. company is consolidating its local office footprint into a single location within the county.
EAB, an education software and consulting firm, is planning to move into 70,000 square feet at 11011 W. Broad St. in October, taking over a sizable chunk of a building previously occupied by the suburban campus of SunTrust near Innsbrook.
The company plans to invest $6 million into the new office and add around 200 employees to its local team over the next five years, according to a news release from Gov. Glenn Youngkin’s office, which announced the company’s plans Tuesday.
That would add to EAB’s current local headcount of 600.
EAB spokesman John Michaels said the new space will replace two offices the company currently occupies at 1920 and 1460 E. Parham Road. They sit about a mile apart and total about 120,000 square feet.
EAB first moved to 1920 Parham Road two decades ago and added the other office on Parham Road about six years ago, Michaels said.
The company offers flexible work arrangements for employees, and the new local headquarters will serve as office space for all local employees.
“When Richmond-based employees come into the office, they will work from the SunTrust campus headquarters,” Michaels said.
EAB provides research, marketing, technology and other services to educational institutions such as colleges and public school divisions. New hires will be in a range of positions, including marketing, software development and other departments, EAB Marketing and Enrollment Solutions President Chris Marett said.
“There will be a broad range of professional staff working out of our new Richmond office, including software engineers, accounting and finance, account management, and creative marketing staff,” Marett said in a prepared statement.
EAB declined to share the median salary of the new positions.
EAB’s new digs will fill part of the 214,000-square-foot building at 11011 W. Broad St. that SunTrust recently exited as part of its merger with BB&T to create Truist Bank. SunTrust also occupied a portion of the other building on the two-building campus.
Truist has completed its move out of the campus, Henrico Economic Development Authority Executive Director Anthony Romanello said Tuesday.
The Henrico EDA worked with the Virginia Economic Development Partnership and the Greater Richmond Partnership to help facilitate EAB’s move. Youngkin approved a $741,600 Commonwealth’s Opportunity Fund grant to help land the project, according to the governor’s office release.
EAB was formerly known as the Education Advisory Board. The company, formerly a division of The Advisory Board Co., has roots in Henrico dating back 30 years via Royall & Co., which The Advisory Board purchased in 2014.
Education consulting company EAB plans to consolidate its local offices at 11011 W. Broad St. near Innsbrook, which was formerly occupied by SunTrust. (BizSense file photo)
The Henrico-based arm of a D.C. company is consolidating its local office footprint into a single location within the county.
EAB, an education software and consulting firm, is planning to move into 70,000 square feet at 11011 W. Broad St. in October, taking over a sizable chunk of a building previously occupied by the suburban campus of SunTrust near Innsbrook.
The company plans to invest $6 million into the new office and add around 200 employees to its local team over the next five years, according to a news release from Gov. Glenn Youngkin’s office, which announced the company’s plans Tuesday.
That would add to EAB’s current local headcount of 600.
EAB spokesman John Michaels said the new space will replace two offices the company currently occupies at 1920 and 1460 E. Parham Road. They sit about a mile apart and total about 120,000 square feet.
EAB first moved to 1920 Parham Road two decades ago and added the other office on Parham Road about six years ago, Michaels said.
The company offers flexible work arrangements for employees, and the new local headquarters will serve as office space for all local employees.
“When Richmond-based employees come into the office, they will work from the SunTrust campus headquarters,” Michaels said.
EAB provides research, marketing, technology and other services to educational institutions such as colleges and public school divisions. New hires will be in a range of positions, including marketing, software development and other departments, EAB Marketing and Enrollment Solutions President Chris Marett said.
“There will be a broad range of professional staff working out of our new Richmond office, including software engineers, accounting and finance, account management, and creative marketing staff,” Marett said in a prepared statement.
EAB declined to share the median salary of the new positions.
EAB’s new digs will fill part of the 214,000-square-foot building at 11011 W. Broad St. that SunTrust recently exited as part of its merger with BB&T to create Truist Bank. SunTrust also occupied a portion of the other building on the two-building campus.
Truist has completed its move out of the campus, Henrico Economic Development Authority Executive Director Anthony Romanello said Tuesday.
The Henrico EDA worked with the Virginia Economic Development Partnership and the Greater Richmond Partnership to help facilitate EAB’s move. Youngkin approved a $741,600 Commonwealth’s Opportunity Fund grant to help land the project, according to the governor’s office release.
EAB was formerly known as the Education Advisory Board. The company, formerly a division of The Advisory Board Co., has roots in Henrico dating back 30 years via Royall & Co., which The Advisory Board purchased in 2014.
To me this is very telling about where the office market will be moving. They are leaving two buildings which total 120,000 sq. ft. for a single office of 70,000. At the same time they are increasing their work force by 1/3 (600 to 800). The post Covid office = more people and less space. We all thought it was coming, but here is a real world example. Anyone else have some concrete numbers for reference?
A few months ago Genworth moved out of 320,000SF in 3 or 4 buildings across Broad St to one 90,000SF or so building. They moved into the former Altria HQ building after Altria moved into a building built behind the original Reynolds building.
To me the interesting part the Gov Opportunity Fund dollars; I hope they require the new workers to at least be Virginia residents. Just how flexible is the new work environment for this firm? My current employer has staff all over the country but we are assigned to physical offices but the state my office is in (heck even the corp offices) I have never set foot in and do not pay any taxes to that state. Can you imagine if half the 200 new hires are remote and only visit every so often. VA has no commuter income tax.