Growth looks strong at Reynolds Crossing

Never mind the sluggish economy. Reynolds Crossing is open and nearly fully leased.

"We were able to get this done before the economy weakened," said J. Sargeant Reynolds Jr., a principal with Reynolds Development, which developed the site.

"We are very fortunate. . . . All the financing was in place."

The 90-acre development is across from the Altria headquarters near West Broad Street and Interstate 64 in Henrico County.

The site includes a Westin hotel, expected to open in mid-January, a 100,000-square-foot medical building and a 200,000-square-foot office building.

The full-service hotel, which caters to business travelers, is the first Westin in the Richmond area.

"If you look in the directory, you see lot of Marriotts, but only one Westin," said Randolph G. Reynolds, a principal in Reynolds Development and cousin to Sarge Reynolds.

A Westin will work better in this area at this time than a deluxe hotel, he said. "I wouldn't want a Ritz Carlton on my expense report."

Also on the site is a recently renovated office building that was constructed in 1967 as a secondary structure to the former headquarters for Reynolds Metals Co. It is occupied by Altria, parent to Philip Morris USA.

About three years ago, a data center was turned into a medical building for Virginia Cancer Center, Virginia Cardiovascular and Bon Secours Imaging Center. The entire front was rebuilt in 2007.

The two renovated buildings are fully leased. "We have never had any vacancy in either building," Reynolds said.

A Max & Erma's restaurant along Broad Street is expected to open in early December. "We also plan to have a white-tablecloth, high-end restaurant, but that is on hold until we see better economic indicators," Randy Reynolds said.

The medical and office buildings opened in April. The final touches are still being made.

Bon Secours is the anchor tenant in the four-story medical building. Other tenants include Commonwealth Dermatology, Cardiovascular Associates of Virginia and Partner MD, a concierge primary medical care practice.

The building, which faces the intersection of Glenside Drive and Forest Avenue, has a curved glass facade on one side, brick and masonry on the other, and features a fountain.

The seven-story office building is 75 percent leased. Alcoa took two floors. Other tenants include the Reynolds Packaging Group, which is part of a private-equity group, James River Insurance and The McCammon Group, a mediation and arbitration firm.

"We hope to have it fully leased by late next year," Sarge Reynolds said. The goal was to have it full this year, but the slow economy interfered.

In late 2002, the University of Richmond bought the corporate headquarters, which it leased to Philip Morris USA. The building became the headquarters for Altria when it moved here from New York in March.

Reynolds Development bought the two remaining buildings on the former complex site and about 63 undeveloped acres.

"We were respectful of the legacy of the original headquarters building," said Bill Talley, principal of Odell & Associates, architect for the new office and medical buildings and also on the facade for the older medical building.

"It was a real privilege to work in the context of some noble and important buildings," Talley said.

The former Reynolds headquarters is considered one of the finest modernist buildings by corporate architect Gordon Bunshaft of Skidmore Owings & Merrill, a Chicago-based firm.

"For Reynolds to seek out Bunshaft was in keeping with their stature at the time," Talley said.

The headquarters was made mostly of aluminum, including fibers for carpeting. It is listed on the National Register of Historic Places.

The exterior of the new office building is aluminum composite panels and aluminum window wall systems with high-performance green-tinted glazing.

The interior has an open ground floor with full windows, a two-story lobby with a water wall and accents of cherry veneer, aluminum and slate.

"There is nothing wrong with a box," Randy Reynolds said. "But we wanted to do something different than another brick box. We have enough of that already in Richmond."
Contact Carol Hazard at (804) 775-8023 or .