After expanding its reach to Piedmont last year, a Richmond estate agency has doubled down locally with a new office in Chester.
The Hogan Group is preparing to open its second local outpost at 9842 Lori Road, a multi-tenant office building across from the Chesterfield County Government Complex and behind the First Watch Restaurant overlooking Iron Bridge Road.
The 4,900 square foot space adds to the Hogan Group’s headquarters at Scott’s Addition, as well as a third Charlottesville office it opened last year, at a location just west of downtown. mall in downtown Charlottesville.
CEO Mike Hogan, who launched the brokerage in 2019 after five years as an agent at Keller Williams, said he was also considering Fredericksburg for an additional office. The brokerage is also active in the Northern Neck area.
Hogan said his team was targeting Chester specifically for its housing stock, growth and recent announcements of more to come, such as VCU Health’s plan for a nearby outpatient facility and the planned manufacturing plant for the Lego group at Meadowville Tech Park.
“There’s a lot to come, and quite honestly, this part of the Richmond metro area is pretty much the last area of affordable housing left,” he said. “It’s one of the few places where you can get a three-bedroom, 2-and-a-half-bathroom home that’s $250,000 or less, so that’s another reason for us. We’re looking at where the demand is. and where is the growth, and that area was natural for us.
Describing the move as bucking the trend, Hogan added: “Everyone seems to want to go to Midlothian and compete with the other 200 brokers based there. We decided to take the opposite route and descend here. We feel like it’s an underserved area where we can do good.
The Chester office will be headed by Jeremy Cecchettini, who Hogan says is familiar and well known in the area.
Around 15 agents are expected to be based at the office when it opens in mid-August. Hogan said they aim to have up to 40 based there by the end of the year.
Company-wide, he said the Hogan Group now has more than 100 agents, up from about 40 agents on the company’s roster when it was founded at Scott’s Addition in 2019. The headquarters of the company is located at 1707 Summit Ave.
With Hogan serving as associate broker, Hogan Group is led by Principal Broker and President Alicia Chappell.
Rob Heim, from the group’s commercial property division, led the research that resulted in the Lori Road space. Hogan said they leased it for five years.
Hogan said they also renewed their Scott’s Addition lease for another three years.
The company currently has 45 active and pending listings. Year-to-date sales are 517, up 28% from the same period last year, Hogan said. It closed 1,010 transactions in 2021.
Hogan Group joins another local brokerage that is expanding its local footprint across the river. River City Elite Properties is preparing to open its second location in the Libbie-and-Grove area.