Study answers why companies are flocking to the region

By Paula C. Squires | Virginia Business magazine

Richmond has scored some big business wins recently.

Not only are companies like Owens & Minor choosing to expand their existing presence in the market, but the metro area is drawing new tenants who are relocating from other major cities or opening new operations in Richmond.

Downtown has proved extremely popular with CoStar, a Washington, D.C.-based real estate research company. It picked Richmond for a 100,000-square-foot operations and research headquarters.  Another newcomer is International City Management Association – Retirement Corp. (ICMA-RC), a non-profit independent financial services company, that’s leasing 55,000 square feet at Riverfront Plaza.

So why are these companies coming to Richmond?

That was the subject of a market research report released this week by Cushman & Wakefield | Thalhimer.  The real estate firm concludes that a wealth of millennial talent, a lower cost of doing business compared to other metro areas and lower rental rates are among the drivers.

Read the full story here.