Reynolds Development

Joyner moving HQ to Reynolds Crossing

By JONATHAN SPIERS  Rich­mond BiZSENSE  Jan 26, 2022

Reynolds Office Building

The Reynolds Office Build­ing at 6641 W. Broad St., where Joyn­er Fine Prop­er­ties is tak­ing 16,200 square feet of space on the first floor. (Pho­to cour­tesy of Joyn­er Fine Prop­er­ties)

One of the area’s largest real estate bro­ker­ages is get­ting a new head­quar­ters for the first time in decades.

Joyn­er Fine Prop­er­ties is mov­ing its home base to Reynolds Cross­ing, where it has signed a mul­ti­year lease for over 16,000 square feet on the first floor of the Reynolds Office Build­ing at 6641 W. Broad St.

The bro­ker­age and its sub­sidiaries, Joyn­er Com­mer­cial and Joyn­er Prop­er­ty Man­age­ment, will be mov­ing two miles south from their long­time home at 2727 Enter­prise Park­way, where Joyn­er has been based for over 40 years.

The move comes two and a half years after Joyn­er was acquired by Vir­ginia Cred­it Union. The cred­it union’s oth­er real estate sub­sidiaries such as Vir­ginia CU Real­ty and Vir­ginia Select Real­ty are also based at 6641 W. Broad St., where they have occu­pied about 5,500 square feet of space for sev­er­al years.

John Stone, a VACU exec who became Joyner’s pres­i­dent as part of the acqui­si­tion, said the move will allow the bro­ker­age and its sub­sidiaries to con­sol­i­date oper­a­tions on a sin­gle floor, a change from their two-floor set­up in the Enter­prise build­ing.

With about 3,200 more square feet in the Reynolds Cross­ing space, Stone said the move also pro­vides capac­i­ty for growth, which he’s tar­get­ing at between 10 and 20 per­cent over the next 18 months. He also not­ed the site’s more cen­tral loca­tion with imme­di­ate access to Inter­state 64.

“When assess­ing the future of our oper­a­tions, we knew that we were grow­ing quick­ly and we need­ed that larg­er space, and being able to com­bine our oper­a­tions onto one floor was some­thing that was appeal­ing for us for the future,” Stone said.

The move will involve 32 agents and 10 staff mem­bers who are based at the head­quar­ters. Com­pa­ny­wide, Joyn­er totals 150 agents and about 35 staffers, Stone said.

“It was a tough deci­sion,” Stone said. “Many of our agents got their start there at Enter­prise, and they’ve called that office home for over 40 years.”

Stone said Joyn­er and VACU’s oth­er real estate divi­sions col­lec­tive­ly closed over $1 bil­lion in sales last year, fueled in large part by the hot hous­ing mar­ket that has come with the pan­dem­ic. He said the pan­dem­ic was con­sid­ered in assess­ing office needs, with from-home and hybrid work options now the norm, but the com­pa­ny decid­ed it want­ed more space, not less.

“We deter­mined that hav­ing those pri­vate offices that we’ve had his­tor­i­cal­ly actu­al­ly work to our ben­e­fit,” Stone said. “We feel like a lot of the agents in the work­place want to have a place that they can call home. Some­times it’s dif­fi­cult to work from home if you have space or pri­va­cy issues, access to reli­able broad­band.

“We want to make sure that we can offer agents choic­es, and we feel like con­tin­u­ing the options that we have – pri­vate offices, an agent can come to work each day if they’d like – is appeal­ing to the agents in the mar­ket­place.”

Stone said the lease is for more than five years. Joyn­er Commercial’s Bill Phillips rep­re­sent­ed the com­pa­ny in nego­ti­a­tions with land­lord Reynolds Devel­op­ment, which was rep­re­sent­ed by Mark Dou­glas and Amy Brod­er­ick with Thal­himer.

Joyn­er is aim­ing to move into its new space by midyear, work­ing with Reynolds Devel­op­ment on a ren­o­va­tion that’s being designed by Thomas Duke at archi­tec­ture firm Wen­del. Stone said the space’s pre­vi­ous occu­pants have includ­ed fel­low real estate bro­ker­age CBRE.

Wen­del also designed Joyner’s upcom­ing branch at West­hamp­ton Com­mons, a mixed-use devel­op­ment at Pat­ter­son and Lib­bie avenues that is being financed by VACU. Joyner’s 6,500-square-foot space there is slat­ed to open this quar­ter, with Wes Atiyeh serv­ing as man­ag­ing bro­ker.

The West­hamp­ton branch adds to Joyner’s near­by offices on Maple Avenue and Grove Avenue. The com­pa­ny also has offices in Mid­loth­i­an and Fred­er­icks­burg.


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