Sussex Development Corporation, currently headquartered at 1604 Hilltop West in Virginia Beach, has announced plans to build a 10,000-square-foot Class A office building at 109 S. Lynnhaven Road in Virginia Beach that will serve as the company’s new headquarters. The building is the first that will meet the new standards developed for the Lynnhaven Corridor Strategic Growth Area.
Sussex Development Corporation, founded in 1990, specializes in the development and construction of commercial and industrial projects in the mid-Atlantic region. Its projects include health care centers, recreational facilities, office buildings, banking facilities, warehouses, hotels and schools. Locally, the company is known for its work on the Virginia Beach Convention Center, First Colonial Professional Center, TowneBank, Hilltop East Shopping Center, Virginia Beach General Hospital and the YMCA of South Hampton Roads.
The move represents a significant expansion for the company that currently has 22 employees. Sussex plans to hire six new employees as a result of this move with average salaries of $62,000. The company has an annual volume of $20 million.
“Sussex has been an excellent business resource in the development of the master plan for the Lynnhaven Corridor,” said Warren D. Harris, director of Virginia Beach Economic Development. “We welcome this investment and the new jobs that will be created in the city. This office building should be a springboard for other regional office and small business relocations to the Lynnhaven SGA.”
Harry L. Davis III, president of Sussex Development Corporation, said, “We have had tremendous success in Virginia Beach and have outgrown our current location with 3,000 square feet. Our headquarters will be an example of the city’s new building guidelines for strategic growth areas, and we’ve been pleased to play a role in bringing this first building to Lynnhaven.”
The Widgeon Professional Center, comprising 10,000 square feet, will be the first Class A office building constructed under the Lynnhaven SGA master plan. The company estimates that the capital investment is $1.8 million in real estate and $288,000 in personal property.
The Virginia Beach Development Authority has authorized an Economic Development Investment Program grant in the amount of $60,000 based on the number of jobs created and the capital investment.
Sussex Development Corporation worked extensively with the City’s SGA office and Urban Design Associates on the building’s design during the master planning process for Lynnhaven.
The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international business and industry that results in the creation of new capital investment and jobs that increase the per capita income in the community. The City of Virginia Beach is the most populous city in the Commonwealth of Virginia with a population of 437,000 and is the 39th largest city in the United States. The City has been recognized as the best run city in America, by 24/7 Wall St. in 2012. In 2013, the City was named the easiest city to start a business in the U.S. by Thumbtack.com in partnership with the Ewing Marion Kauffman Foundation and top overall mid-sized city in the U.S. by fDi Magazine. In 2012, the Department of Economic Development received re-accreditation through the International Economic Development Council, one of only 29 economic development organizations in the world to have this recognition. For more information, visit www.yesvirginiabeach.com.