Greystar's Otis Secures Two Tenants for Retail Space

RICHMOND, Va., April 7, 2022 /PRNewswire/ -- Greystar, a global leader in the investment, development, and management of high-quality rental housing properties, announced that it has secured new tenants for its retail space at Otis, a new 350-unit mixed-use apartment community that also boasts 13,020 sq. ft. of ground floor retail space. Charlottesville-based Grit Coffee Roasting Co. and Cou Cou Rachou, a classic French bakery, will share a space facing Roseneath Road and accessible from the building's lobby. PlantHouse, an experience-based terrarium and premium plant store, will move into an in-line space along West Moore Street, directly across from Stella's Market and Vasen Brewery.

"With our first project in a neighborhood as dynamic as Scott's Addition, we were dedicated to create a sense of place that fits the neighborhood vibe," John Clarkson, Managing Director of Development for Greystar, said. "We believe we have done that with Grit/Cou Cou Rachou and PlantHouse, two exceptionally authentic tenants that will activate the streetscape for our neighbors and our tenants."

"We're very excited to anchor ourselves in Scott's Addition within Otis. Greystar has designed and developed a beautiful architectural addition to the neighborhood, and we look forward to making it home and serving great coffee and pastries." said Brandon Wooten, Chief Brand Officer for Grit Coffee and Cou Cou Rachou.

"We're extremely excited to offer our customers increased retail and DIY terrarium space. Scott's Addition is a great fit for our brand and offers increased accessibility to our customers. Guests can shop our premium houseplant and ceramics, join us for a workshop, and grab a drink or bite to eat on the patio," said CEO of PlantHouse, Bailey Ryan. "We are thrilled to be part of the neighborhood and have a positive impact on the Richmond community." 

Grit/Cou Cou Rachou will take up 2,068 sq. feet and PlantHouse will occupy 2,129 sq. ft. Both businesses plan to open in November as residential units are delivered. Grit currently has one other Richmond location and five shops in Charlottesville and Cou Cou Rachou has recently opened their first brick and mortar location in Charlottesville.

Otis, which broke ground in 2021, will have studio, one-, two- and three-bedroom apartment floorplans. Additionally, it will have eight three-bedroom ground-level townhomes. The building's first units will be delivered this fall.

The building was designed to complement the neighborhood's industrial aesthetic. The ground floor will feature 22' ceilings with co-working spaces, a lounge, a coffee bar and a 3,200 sq. ft. fitness center. The building will also offer an expansive resident clubroom, grill lounge, dog park and pool.

For more information about available retail space in The Otis, please reach out to Read Goode at [email protected] or (804) 335-0554.

About Greystar 
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates approximately $230 billion of real estate in 215 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 754,000 units/beds, and has a robust institutional investment management platform with more than $49.9 billion of assets under management, including $22.6 billion of development assets. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

SOURCE Greystar