RICHMOND, Va. -- The vehicle consignment business CarLotz is relocating its corporate headquarters from Manchester to Richmond’s burgeoning Scott’s Addition neighborhood.
The company, which was founded 10 years ago and specializes in marketing used cars, is now considered the nation's largest consignment-to-retail used car marketplace.
The company, which made the announcement during a ceremony with state leaders Friday morning, will relocate into the Handcraft Building in Scott’s Addition.
Leaders with CarLotz said the move is a $1.5 million investment that will help create 192 jobs.
“We're thrilled to be moving into this beautiful space and vibrant community in a supporting city and innovative state,” CarLotz Co-Founder, Chairman and CEO Michael Bor said. “This space and this area is just what our team needs to foster the creativity, collaboration and innovation we need as a company to take us forward."
The new facility is expected to open later this year following renovations.
CarLotz has two locations in the Richmond area as well as Virginia locations in Charlottesville, which opened this week, and Chesapeake. The company currently has 8 other locations across the country, according to its website.