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Innsbrook Community Refreshed and Ready For the Future of Business
2022-04-05
Innsbrook Corporate Center, a premier office park in Henrico’s West End, came to life in 1979, largely due to the vision and tenacity of late real estate developer Sidney J. Gunst. At just 28 years old, he saw the potential in 1,000 acres of sprawling fields. Flash forward 40 years, and the office park is now home to an incredible range of leading businesses. Fortune 500 global insurance leader Markel, Fortune 1000 IT and professional services firm ASGN, fast-growing mortgage lender CapCenter, and the new specialty insurer Hamilton Select all have their headquarters here. Annual GDP stands at $3.5B, a number that dwarfs some cities.
But the true appeal of Innsbrook is that it’s not all work. The thriving urban center rests at the confluence of I-64 and I-295, making it as accessible as it is attractive. Three stunning lakes and five miles of trails pulsate with the energy of the community’s 22,000 employees. Innslake Place, the new multifamily unit in Innsbrook, welcomes residents. Last year, Innsbrook was even named one of the best places to live in the country. And if you think this is impressive, you haven’t seen anything yet.
Focused on the Future
Even pre-pandemic, Henrico officials noted an increased interest in live, work, and play atmospheres. The real estate market, driven by millennial homebuyers and empty nesters looking to downsize, demanded walkability. Housing, restaurants, services, schools, cultural facilities, parks, and more – enhanced by the sense of community that an absence of vehicles affords – were top of mind. And businesses need to give the people what they want. And since Henrico specializes in giving businesses what they need to succeed, it began rezoning portions of office park with an urban mixed-use designation in preparation of what was to come.
If You Build It
Highwoods Properties is an out-of-state real estate investment trust with a big Innsbrook presence. The company specializes in Best Business Districts in red-hot markets like Atlanta and Nashville, and owning nearly 1.3 million square feet of office space, they are Innsbrook community’s largest landlord. When asked why a North Carolina firm would assume such a large footprint, Jane DuFrane, Highwoods Senior Vice President – Market Leader, Richmond, thoughtfully replied, “I think the better question is why wouldn’t we?”
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A native Virginian, DuFrane is without a doubt pro-state, pro-Henrico, pro-Innsbrook. She got her start as the company’s director of leasing more than 25 years ago and hasn’t looked back. She is a passionate leader with a progressive vision. In fact, her brainchild is the upcoming North End at Innsbrook, a dynamic mixed-use community where Nuckols Road meets I-295.
captioned.jpg)
Much like Gunst before her, DuFrane saw the potential in untapped land near the park’s northern entrance years ago. She encouraged Highwoods to purchase nine acres where an Elks Lodge sat to expand upon adjacent properties, and in 2019 the company made it happen. Though no final details have been solidified, the Henrico Board of Supervisors approved urban mixed-use rezoning for a 34-acre undeveloped section, which includes the former Elks Lodge. Proposed concepts call for apartments, condos, offices, dining and entertainment options, and a hotel. All within walking distance of each other.
“Ultimately, we want to create the best environment to continue attracting the best talent,” said DuFrane.
A Sense of Community
The North End isn’t slated to break ground until 2023, but as President of the Innsbrook Owners Association Board, DuFrane has already begun reigniting Innsbrook’s more intimate sense of place. In partnership with local boutique firm Bellrae Marketing and its Founder and Co-Owner Carly McAlister, she accomplished a great deal in 2021.
For McAlister, whose offices are a stone’s throw from Innsbrook, the collaboration is equally a passion project. The results speak for themselves. When promoters behind the nationally recognized outdoor concert series Innsbrook After Hours changed venues, the music remained but showcased more regional acts like No BS! Brass. For Thanksgiving, a digital cookbook with recipes submitted by Innsbrook community members was released. During the holidays, a Season of Giving Giveaway was mounted, where Henrico bus driver April Wallace was gifted $1,000 for her dedication to local kids. Up next, a Yoga on the Lawn spring series is planned.
No Place Like Home
Add Lingerfelt to the growing list of local developers that are keen on mixed-use. Brian Witthoefft, the real estate investment management firm’s Partner and Managing Director of Leasing, is a self-admitted real estate junkie who joined the company a little over a decade ago. He’s certainly satisfying his appetite: The third-generation company headquartered in Innsbrook has done over $3.0B in investment and development since 2000, and is still going strong.
Lingerfelt owns the second most land in Innsbrook, and has five office properties in its portfolio that lent themselves to infill development. The company was bullish and applied for approval at once, receiving it unanimously. Though eager, the plan is metered. Lingerfelt envisions erecting nearly 1,400 apartments and structured parking decks over the next decade.
“We’re not about development for development’s sake,” said Witthoefft. “One of the singular most important aspects of infill development is preserving the experience of the tenants in these existing office buildings. It has to be done well and harmoniously. When we design, we’re mindful of preserving viewsheds and natural light.”
And though many of Lingerfelt’s investments have a finite hold that’s sold when the asset has stabilized, Henrico is different.
“Innsbrook is near and dear to us,” said Witthoefft. “Lingerfelt has been a part of the community’s evolution over the past four decades and we share in the responsibility to set it up for success for decades to come.”
Tech Savvy
In Henrico, we’re always ready for what’s next. Officials are planning an Innsbrook Technology Zone that offers building and permit fee waivers, as well as custom incentives to eligible businesses. Professionals who wish to grow in the premier office park can collaborate with the Henrico Economic Development Authority (EDA) to tailor financial solutions specific to their business needs.
“It truly is a win-win-win situation for Innsbrook, Henrico and new businesses” said Anthony Romanello, Executive Director of the Henrico Economic EDA. “Entrepreneurs and executives start off on excellent financial footing to help fuel their innovation. Plus, they can then leverage a vibrant mixed-use community to attract and retain talent.”
The future looks bright for Innsbrook. Henrico looks forward to doing Gunst proud and continuing to enhance the community for companies eager to succeed in the new business landscape.
But the true appeal of Innsbrook is that it’s not all work. The thriving urban center rests at the confluence of I-64 and I-295, making it as accessible as it is attractive. Three stunning lakes and five miles of trails pulsate with the energy of the community’s 22,000 employees. Innslake Place, the new multifamily unit in Innsbrook, welcomes residents. Last year, Innsbrook was even named one of the best places to live in the country. And if you think this is impressive, you haven’t seen anything yet.
Focused on the Future
Even pre-pandemic, Henrico officials noted an increased interest in live, work, and play atmospheres. The real estate market, driven by millennial homebuyers and empty nesters looking to downsize, demanded walkability. Housing, restaurants, services, schools, cultural facilities, parks, and more – enhanced by the sense of community that an absence of vehicles affords – were top of mind. And businesses need to give the people what they want. And since Henrico specializes in giving businesses what they need to succeed, it began rezoning portions of office park with an urban mixed-use designation in preparation of what was to come.
If You Build It
Highwoods Properties is an out-of-state real estate investment trust with a big Innsbrook presence. The company specializes in Best Business Districts in red-hot markets like Atlanta and Nashville, and owning nearly 1.3 million square feet of office space, they are Innsbrook community’s largest landlord. When asked why a North Carolina firm would assume such a large footprint, Jane DuFrane, Highwoods Senior Vice President – Market Leader, Richmond, thoughtfully replied, “I think the better question is why wouldn’t we?”
A native Virginian, DuFrane is without a doubt pro-state, pro-Henrico, pro-Innsbrook. She got her start as the company’s director of leasing more than 25 years ago and hasn’t looked back. She is a passionate leader with a progressive vision. In fact, her brainchild is the upcoming North End at Innsbrook, a dynamic mixed-use community where Nuckols Road meets I-295.
.png)
Much like Gunst before her, DuFrane saw the potential in untapped land near the park’s northern entrance years ago. She encouraged Highwoods to purchase nine acres where an Elks Lodge sat to expand upon adjacent properties, and in 2019 the company made it happen. Though no final details have been solidified, the Henrico Board of Supervisors approved urban mixed-use rezoning for a 34-acre undeveloped section, which includes the former Elks Lodge. Proposed concepts call for apartments, condos, offices, dining and entertainment options, and a hotel. All within walking distance of each other.
“Ultimately, we want to create the best environment to continue attracting the best talent,” said DuFrane.
A Sense of Community
The North End isn’t slated to break ground until 2023, but as President of the Innsbrook Owners Association Board, DuFrane has already begun reigniting Innsbrook’s more intimate sense of place. In partnership with local boutique firm Bellrae Marketing and its Founder and Co-Owner Carly McAlister, she accomplished a great deal in 2021.
For McAlister, whose offices are a stone’s throw from Innsbrook, the collaboration is equally a passion project. The results speak for themselves. When promoters behind the nationally recognized outdoor concert series Innsbrook After Hours changed venues, the music remained but showcased more regional acts like No BS! Brass. For Thanksgiving, a digital cookbook with recipes submitted by Innsbrook community members was released. During the holidays, a Season of Giving Giveaway was mounted, where Henrico bus driver April Wallace was gifted $1,000 for her dedication to local kids. Up next, a Yoga on the Lawn spring series is planned.
No Place Like Home
Add Lingerfelt to the growing list of local developers that are keen on mixed-use. Brian Witthoefft, the real estate investment management firm’s Partner and Managing Director of Leasing, is a self-admitted real estate junkie who joined the company a little over a decade ago. He’s certainly satisfying his appetite: The third-generation company headquartered in Innsbrook has done over $3.0B in investment and development since 2000, and is still going strong.
Lingerfelt owns the second most land in Innsbrook, and has five office properties in its portfolio that lent themselves to infill development. The company was bullish and applied for approval at once, receiving it unanimously. Though eager, the plan is metered. Lingerfelt envisions erecting nearly 1,400 apartments and structured parking decks over the next decade.
.png)
“We’re not about development for development’s sake,” said Witthoefft. “One of the singular most important aspects of infill development is preserving the experience of the tenants in these existing office buildings. It has to be done well and harmoniously. When we design, we’re mindful of preserving viewsheds and natural light.”
And though many of Lingerfelt’s investments have a finite hold that’s sold when the asset has stabilized, Henrico is different.
“Innsbrook is near and dear to us,” said Witthoefft. “Lingerfelt has been a part of the community’s evolution over the past four decades and we share in the responsibility to set it up for success for decades to come.”
Tech Savvy
In Henrico, we’re always ready for what’s next. Officials are planning an Innsbrook Technology Zone that offers building and permit fee waivers, as well as custom incentives to eligible businesses. Professionals who wish to grow in the premier office park can collaborate with the Henrico Economic Development Authority (EDA) to tailor financial solutions specific to their business needs.
“It truly is a win-win-win situation for Innsbrook, Henrico and new businesses” said Anthony Romanello, Executive Director of the Henrico Economic EDA. “Entrepreneurs and executives start off on excellent financial footing to help fuel their innovation. Plus, they can then leverage a vibrant mixed-use community to attract and retain talent.”
The future looks bright for Innsbrook. Henrico looks forward to doing Gunst proud and continuing to enhance the community for companies eager to succeed in the new business landscape.
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