CHARLOTTESVILLE, Va. (WVIR) – The overhaul of a former Charlottesville milk processing plant will soon be the home of some major tech tenants.
Developers for the Dairy Central renovation along Charlottesville’s Preston Avenue announced late Monday that the businesses, CoStar Group and Dexcom have signed leases. Dairy Central is set to be a large mixed-use complex, featuring offices and a market area.
Phase two construction broke ground in October, which is set to provide new housing.
Stony Point Development Group and Cushman & Wakefield | Thalhimer Press Release:
Wakefield | Thalhimer are pleased to announce two leases, totaling 17,580 square feet of office space, have been signed at Dairy Central, the largest mixed-use development in downtown Charlottesville. The new tenants will be CoStar Group and Dexcom.
“We are thrilled to welcome CoStar Group and Dexcom to Dairy Central” said Chris Henry, President of Stony
Point Development Group. “Publicly traded tech tenants recently establishing a presence in
Charlottesville, points to the strength of the local economy and attractiveness of Central Virginia for business
growth. Dairy Central will enable these businesses to thrive in a unique office environment defined by true class
A finishes, innovative amenities, and lobby access to Dairy Market, the new market hall debuting this year.”
“These announcements reflect the significant pent up demand for Class A office space in the Charlottesville
market,” said Chris Engel, Director of Economic Development for the City of Charlottesville.
With projected for spring and summer openings in 2020, the first tenants to occupy 35% of Dairy Central’s office tower. More information on the companies can be found below.
• CoStar Group (Nasdaq: CSGP), CoStar Group, Inc. (NASDAQ: CSGP), is the largest digital real estate company in the world. Headquartered in Washington, DC, CoStar Group operates over 20 brands in 17 countries, including Apartments.com, which helped 14 million people find a home last year.
• Dexcom, Inc. (Nasdaq: DXCM), a world-leading provider of continuous glucose monitoring systems for use by
people with diabetes. Headquartered in San Diego, CA, Dexcom acquired Charlottesville-based digital health
company TypeZero Technologies in 2018.
An additional 12,000 square feet of class A office space remains at Dairy Central.
John Pritzlaff and Jenny Stoner of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of
About Dairy Central
Dairy Central is a 300,000sf mixed-use project at Preston Avenue and 10th Street in downtown Charlottesville. Phase 1, opening this spring, includes the adaptive reuse of the historic Monticello Dairy building to new Class A office space, the Dairy Market, and an event space. Phase 2, known as 10th and Dairy, includes 180 urban apartments with a full suite of modern amenities slated for opening in 2021. Learn more at DairyCentralCville.com.
About Stony Point Development Group
Stony Point Development Group is an award-winning real estate development firm headquartered in Charlottesville, VA. Stony Point’s mission is creating great places and enhancing lives through the built environment. The company is uniquely focused on community building in high quality, walkable locations with connections to natural amenities. It acquires, builds and operates mixed asset development projects primarily focused on housing, office, and experiential retail. For more
information please visit StonyPointDB.com.
About Cushman & Wakefield | Thalhimer
Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, VA; and Charleston, Columbia, and Greenville, SC. The company has over 100 broker professionals and employs over 400 associates. Thalhimer represents, on behalf of its clients, a property portfolio of over 56 million leasable square feet, and management of over 30 million square feet of commercial property, and over 8,000 multifamily units. In 2018 Thalhimer completed nearly 2,000 transactions with a transactional volume over $1.3 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services. The firm offers comprehensive commercial real estate services including corporate services, investment sales, tenant representation, project management, asset management, and the sale and leasing of office, industrial and retail properties. To learn more, visit www.thalhimer.com or follow @Thalhimer on Twitter.
Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance
Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium
data benchmarking, analytics and marketplace insights for the global hospitality sector. LoopNet is the most heavily trafficked commercial real estate marketplace online with over 6 million monthly unique visitors. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, WestsideRentals.com, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group’s websites attracted an average of over 51 million unique monthly visitors in aggregate in the third quarter of 2019. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 4,300 worldwide, including the industry’s largest professional research organization. For more information, visit costargroup.com.