Jones Lang LaSalle (JLL), as exclusive advisor, is pleased to offer for sale the 100% fee simple interest in Lumber Liquidators HQ (the property or offering), a 52,876 square foot office building leased to Lumber Liquidators as their international headquarters located within Libbie Mill-Midtown in Henrico County, the ongoing mixed use development just outside of downtown Richmond. With 9 years of lease term and 2, 5-year options, the corporate headquarters showcases a unique build out that demonstrates the Lumber Liquidators premier flooring products while providing a new modern, office facility for Lumber Liquidators 200 +/- employees. The firm has made a significant commitment to Richmond due to the city’s strategic position as a multi-modal logistics hub and pro business environment.
In addition to its corporate headquarters, Lumber Liquidators built a 1 million square foot warehouse in Henrico County at the White Oak Technology Park. The Libbie Mill-Midtown is a multi-phase, 80-acre development that has established itself as the premier high-end community for Richmond’s affluent suburban population. The development offers townhomes, condos, office space and elite retailers like solidcore, Starbucks, and acclaimed restaurants, Shagbark and Crafted. A testament to the resounding success of the development, after the delivery of over 327 residential units in 2018, the developer broke ground on an additional 349 residential units in late 2019. The Libbie Mill Library, part of the Henrico County Public Library System, hosts roughly 400,000 visitors a year and serves as a centerpiece of the community, hosting events, providing “collaboration spaces”, and acting as the community meeting place.
- Single tenant opportunity with 9 years of term and contractual ~2.8% annual rent increases
- Mission critical headquarters location with corporate guarantee from growing, publicly traded company
- Lumber Liquidators (NYSE: LL) is an essential retailer and marketer of flooring products. In Q3 2020, sales increased over 140% Y-o-Y from 2019, with industry tailwinds providing a boost to profit margins and balance sheet strength.
- Located within Richmond’s premier mixed-use development- Libbie Mill Midtown- which offers a live-work-play environment with a convenient location and walkable retail amenities.