Capital One walked away from a Henrico County building, but it never really let go.
The rapidly expanding banking and credit card giant has returned to the roughly 60,000-square-foot East Shore I building near Innsbrook that it occupied during the early 2000s. Additionally, Capital One has extended its lease 70,000 square feet at East Shore II, where it has about 300 employees.
Capital One spokesperson Julie Rakes said that details of the move back to East Shore I are being worked out and that the company hadn’t said which employees — or how many — would be in the space.
Austin Newman of Cushman & Wakefield | Thalhimer brokered the deal for Capital One. Scott Durham and Walton Makepeace of CBRE represented the owner, New York real estate investment firm Lexington Realty Trust.
There are three East Shore buildings off Nuckols Road in Henrico County. They were built between 1998 and 1999 by Highwoods Properties, which later sold them. By 2000, Capital One occupied all three. It vacated all but East Shore II in 2005.
East Shore III is occupied by SNL Financial and Sheltering Arms, among other tenants.
Capital One has been known to release buildings after vacating them. Last April, it took out 135,000 square feet at Liberty Plaza II in Innsbrook, also on Nuckols Road.
One of the largest employers in Richmond with more than 10,000 workers, Capital One’s appetite for space has increased in recent months. The company is adding 300,000 square feet of office space at its sprawling West Creek campus. That build out is scheduled to be complete next year.
These latest leases also come on the heels of the company’s recent announcement of plans to build a $150 million data center at Meadowville Technology Park in Chesterfield County.