Two new tenants sign on at Deep Run III in Henrico County

A bank and an employee benefits consulting firm are moving to the former headquarters facility for Circuit City in Henrico County. 

Cushman & Wakefield | Thalhimer said Thursday that Essex Bank, a subsidiary of Community Bankers Trust Corp., has leased 27,487 square feet of office and storage space in Deep Run III in Henrico County. The 348,174-square-foot, class A, six-story building is located at 9954 Mayland Drive.

Essex Bank will occupy 25,375 square feet on the left side of the entry-level lobby and a 2,112- square-foot portion of the lower floor, which will be used for loan document storage.

According to Thalhimer, the bank plans to relocate from its current headquarters in the Innsbrook Corporate Center and consolidate certain functions from other locations. The consolidation represents nearly a 50 percent increase in size for Essex Bank from its current 14,100-square-foot space.

Its new headquarters will house about 90 employees with space to grow to 120 employees in the future. The bank will offer a 24-hour, walk up ATM machine adjacent to the building’s main entrance.

The second tenant is Digital Benefit Advisors. Mark Douglas, a Thalhimer broker involved in the transaction, said the company has leased just under 13,000 square feet square feet on the right side of the building’s lobby. It, too, is moving from space at Innsbrook to consolidate two separate offices. Douglas says Digital plans to move this summer.

Deep Run III is Richmond’s largest multitenant suburban office building. Amenities include fitness facilities, a 150-person conference facility and a café.

With other leases pending, the building’s owner anticipates Deep Run III to be 40 to 45 percent committed by this summer. In addition to the multimillion-dollar renovation, construction has begun on a 750-car parking deck that will increase the parking for the building to about 1,845 spaces.

Austin H. Newman and Brian K. Berkey of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the tenant. Douglas represented the landlord, DR III, LLC.