You’ve probably seen it from the I-64/Staples Mill interchange—that massive six-story glass and brick structure standing like a sentinel over the West End. Most folks around here still call it Holland Tower, or maybe they know it as "that building next to Libbie Mill." But if you've been paying attention lately, there’s a lot more going on at 2221 Edward Holland Dr Richmond VA 23230 than just another corporate logo on the facade.
It’s actually in the middle of a massive identity shift.
Honestly, the Richmond office market has been a bit of a roller coaster since 2020. While some buildings are sitting ghost-town quiet, 2221 Edward Holland Dr is undergoing a high-stakes transformation under new ownership. Late in 2025, real estate mogul Gagan Marwaha—known for snapping up "troubled" assets—purchased the property for $13 million. He promptly rebranded it as Marwaha Tower III.
Why does a suburban office building matter to you? Because it’s the anchor of the Midtown submarket, a place where the lines between "where we work" and "where we live" are getting very blurry.
What’s Actually Inside 2221 Edward Holland Dr Richmond VA 23230?
For years, this was the home turf of Anthem. They occupied a massive chunk of the building—about 90,000 square feet. But in a move that's become common for huge insurance carriers, they’ve started pulling back. Their lease is officially winding down in June 2026. This creates a fascinating vacuum in the heart of Henrico.
Right now, the building isn't empty. Not by a long shot. It’s a bit of a "who’s who" of Richmond business and state infrastructure.
- Virginia Works: Formerly known as the Department of Workforce Development and Advancement, this state agency has its headquarters here. If you're looking for the people who manage the state's career resources and workforce boards, this is the spot.
- Colliers International: Their regional headquarters sits on the 6th floor (Suite 600). They don’t just work there; they handle the leasing for the building, too.
- Lansing Building Supplies: Another heavy hitter with its national headquarters tucked inside these walls.
It’s a Class A space, which basically means it’s the "luxury" tier of office real estate. We’re talking about 192,807 square feet of space, floor plates that hit around 33,000 square feet, and a parking ratio (5.2 per 1,000) that makes most downtown workers weep with envy.
The Marwaha Strategy
Gagan Marwaha didn't buy this building because it was perfect. He bought it because it was half-empty.
Most investors see a 50% vacancy rate and run for the hills. Marwaha sees "value-add." His game plan is pretty specific: take these massive blocks of space that Anthem is leaving behind and chop them up. Instead of looking for one giant corporation to move in, he’s targeting smaller firms that want the prestige of a Class A building without needing a 100,000-square-foot footprint.
He’s doing the same thing at the old Circuit City headquarters (now Marwaha Business Plaza) and Gateway Centre. It’s a bet on the "small-to-mid-size" business economy in Richmond.
Location: The Secret Sauce of 23230
Let’s be real: the reason 2221 Edward Holland Dr Richmond VA 23230 stays relevant is because of where it sits. It’s located in the Brittons Hill neighborhood, but more importantly, it’s directly across from the Libbie Mill-Midtown development.
If you work here, you aren't stuck in a "food desert." You’re two minutes away from the Libbie Mill Library, several high-end apartment complexes, and a growing list of spots like Willow Lawn and Scott’s Addition.
The accessibility is almost ridiculous. You have immediate access to I-64, I-95, and I-195. You can get to the West End, Downtown, or Northside in about ten minutes, depending on how heavy the foot is on the gas. This "ground zero" location is why the building systems were renovated back in 2009 and why it continues to command attention even as other suburban offices struggle.
Amenities and Perks
It’s not just desks and fluorescent lights. The building has the usual "Class A" bells and whistles that keep employees from quitting:
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- A Full Gym: Complete with showers and lockers, so you can sweat out your morning meetings.
- The Refreshment Lounge: A fancy way of saying a high-end break area.
- Manned Security: There’s a desk in the lobby, which adds that layer of "I work in a serious place" vibes.
- Outdoor Space: A covered exterior patio for when the Virginia humidity is actually tolerable.
Why the Ground Lease Matters
Here is a detail most people miss: the deal for this building was actually super complicated.
When Marwaha bought it, he only got half of the 12-acre site in the fee simple sale. The other half is a ground lease with about 50 years left. In the world of real estate, ground leases can be a nightmare. You own the building, but you're essentially renting the dirt it sits on.
Marwaha had to navigate that hurdle to close the deal, which shows just how much he wanted this specific piece of the Richmond skyline. The site is part of Henrico County’s "Westwood densification focal area," which is a fancy way of saying the county wants more people, more buildings, and more "urban feel" in this specific pocket.
Actionable Insights for Businesses and Locals
If you're a business owner or someone keeping tabs on Richmond's growth, here is what the activity at 2221 Edward Holland Dr tells us:
- Watch the Sublease Market: With Anthem moving out, there are massive opportunities for "plug-and-play" office space. Many of these suites come fully furnished, which can save a growing company hundreds of thousands in startup costs.
- The Rebrand is Real: If you're mailing anything or setting up GPS, start using "Marwaha Tower III" or you might get lost looking for the old signage.
- Midtown is the New Downtown: The shift from traditional office parks to "mixed-use" hubs is happening here. If you're looking for office space, the proximity to Libbie Mill is a major talent recruitment tool.
- Keep an eye on Colliers: Since they are both a tenant and the leasing agent, they are the gatekeepers for whatever happens next with that 50% vacancy.
The story of 2221 Edward Holland Dr is really the story of Richmond’s second act. It’s moving away from the "one big tenant" model of the 90s and toward a more fragmented, energetic, and accessible business hub. It's a bit messy, sure, but it’s a lot more interesting than a half-empty tower.