Davenport has leased the former bank branch building at 315 Libbie Ave.
One of the more seasoned players of Richmond’s downtown financial scene is branching out to the West End.
Davenport & Co. recently signed a lease for the former bank branch building at 315 Libbie Ave., where it will open an office for its advisors to meet with clients.
The financial advisory and wealth management firm said the Libbie office will serve solely as a satellite meeting space and emphasized that the advisors who use the new space will continue to be based in the firm’s downtown headquarters in James Center.
“The Libbie Avenue building will serve as a convenient location for Davenport advisors to meet with their clients. The new space will have several conference rooms, high-end technology, and the building includes 10 dedicated parking spaces,” the company said in an email to BizSense.
Renovations are underway ahead of a planned move-in date in spring 2025, the company said.
It will be the firm’s only such satellite location in the Richmond region.
Commonwealth Commercial Partners broker Jim McVey represented the building’s landlord in Davenport’s lease transaction. The building’s owner is listed in city records as Neville-Berkeley Properties, LLC.
The 3,000-square-foot building has hosted many banks over the years, most recently North Carolina-based First Citizens Bank.
Founded in 1863, Davenport has nearly 500 employees in 25 offices, 19 of which are in Virginia. It also has four in North Carolina and one each in Maryland and Georgia. Approximately 280 of its employees are based in Richmond. The firm manages approximately $41.9 billion in client assets.