Atlantic Union Bankshares Corp. is shuffling employees around into into new office digs in the Richmond region.
The Richmond-based holding company for Atlantic Union Bank has leased 69,620 square feet at 4300 Cox Road in the heart of the Innsbrook Corporate Center in western Henrico County.
The bank is taking over the entire three-story building and will be moving employees there sometime in the second quarter of next year.
Atlantic Union plans to vacate 23,000 square feet of space on the 17th floor of the One James Center. The space was inherited with the company's merger with Xenith Bank earlier last year.
Employees working in this space who will relocate to the new offices in Innsbrook include marketing, digital strategy, customer experience and consumer lending.
Atlantic Union also is relocating employees who are working at 1011 Boulder Springs Drive in Chesterfield County. That space also had been used by Xenith Bank.
Consumer and business banking underwriting employees work at the Boulder Springs office.
In addition, employees from wealth management and enterprise information management teams will all move to the Cox Road building next year as well.
The leases from the James Center and Boulder Springs locations expire in next year's second quarter, thus the need for new space all in one building.
"The additional space at Cox Road sets Atlantic Union Bank up for continued growth over the next five years," a company spokeswoman said.
Atlantic Union also leases space in the nearby Innslake Center building at 4355 Innslake Drive. It moved employees to the first, second and third floors of that building late last year and earlier this year.
The Cox Road building has been vacant for about four years, according to commercial real estate brokerage Cushman & Wakefield | Thalhimer. The firm's Will McGoogan handled the lease negotiations on behalf of the tenant, while Evan Magrill and Dean Meyer represented the landlord.
The building was sold to Lighthouse Road Hospitality LLC for $6.247 million in 2017. It recently was renovated with new HVAC system, roof, parking lot, and upgraded restrooms.
The building, constructed in 1989, was initially used as the corporate headquarters for The Computer Co., which provided processing for Medicaid programs and pharmaceutical claims for third-party payers. It changed its name to First Health Services Corp. and that business eventually was sold a decade ago.