Richmond-based demolition company S.B. Cox will tear down the former Best Products headquarters in western Henrico County to make way for an arena-anchored development project, county officials announced Friday.
According to the Henrico Economic Development Authority, which owns the land at 1400 Best Plaza Drive, a demolition kickoff event will be announced soon, and site work is expected to run through much of 2026. The two massive eagle statues outside the shuttered building will be moved before demolition so they can be preserved either at the site or elsewhere.
The nearly 50-year-old building was deemed structurally unsafe for renovations, the EDA’s announcement said. Henrico purchased the building in 2011 and has considered it for various uses, including as part of the defunct $2.3 billion GreenCity project.
Announced in 2020, GreenCity was expected to feature a 17,000-capacity arena, two hotels, 2.2 million square feet of office space, 280,000 square feet of retail space and 2,100 residential units. However, in March 2025, its developers failed to make $5 million in overdue payments to the county. In September 2025, the Henrico EDA repurchased the 93-acre property, which was assessed at $6.2 million. Meanwhile, in May 2025, the county issued a new request for interest to developers, including an arena.
Next week, Henrico is set to host a four-day public planning workshop to discuss the project, as well as plans for the nearby Brook Road corridor.
S.B. Cox President Mike Fanelli said Friday that he and the county are still finalizing the timeline for the building’s demolition and declined to give the project’s financial terms.
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