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:
CHARLOTTESVILLE, VIRGINIA, January 13, 2020 – Stony Point Development Group and Cushman & 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. “These 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 spring and summer openings in 2020, the first tenants will 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 Dairy Central.