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Owens & Minor, a Fortune 500 medical supplies company, is moving to the Innsbrook Corporate Center in western Henrico County. This is a move for one of the largest companies in the Richmond area.

The move to the Highwoods One building at 10900 Nuckols Road comes five months after the company sold its headquarters in Hanover County. The Virginia Department of Transportation bought the building for about $34 million and will relocate from its downtown office on East Broad Street.







20160616_BIZ_EVBBp01

The top floor of the Highwoods One building at 10900 Nuckols Road in Henrico County was previously occupied by Dominion Energy.


Highwood


Hanover County assessed the value of the company’s old headquarters, a 25-acre site at 9120 Lockwood Blvd., at $24 million. It includes a four-story, 44,000-square-foot office building. Owens & Minor had owned the building since 2002, when it bought the office from the former Media General Inc., which then owned the Richmond Times-Dispatch.

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The new office is a four-story office building owned by Highwoods Realty LP, which owns and manages several properties in Innsbrook.

Owens & Minor signed a long-term lease for the top floor, which had been vacant for five years, said Kristie Inge, senior director of leasing at Highwoods. The building was previously occupied by Dominion Energy and houses 150 to 200 employees.

The company has reassessed the size of its offices to reflect new workplace trends and employee preferences, a company spokesperson said. Employees will move in towards the end of the year.

Innsbrook offices have a vacancy rate of about 15%, and the number of employees working on-site has steadily increased since the pandemic, Inge said. Staff gauge office usage based on parking utilization and frequency of amenity use.

“We are very pleased with the increasing usage,” she said.

Innsbrook has built new housing throughout its campus, which makes the neighborhood even more interesting, Inge added. According to a report by real estate agency CBRE, the vacancy rate in Innsbrook is slightly better than in the city center, where it is 19%.







Headquarters of Owens & Minor

Owens & Minor Inc., founded in Richmond in 1882, sold its headquarters in Hanover to the Virginia Department of Transportation earlier this year.


JOE MAHONEY, TIMES-DISPATCH


Owens & Minor ranks 388th on the latest Fortune 500 list and employs 22,000 people nationwide. In the first quarter of 2024, the company reported revenue of $2.6 billion and a net loss of $21 million.

The company’s chief financial officer, Alexander J. Bruni, was asked to resign, according to a securities filing last month, CFODive.com reported. Jonathan A. Leon will serve as interim chief financial officer.