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attle Monument Group has secured a new downtown headquarters, purchasing a four‑story office at 9 S. 12th St. for $2.3 million. The 12,600‑sq‑ft building sits just south of Jo‑Jo’s Famous Pizza, adjacent to coworking space Expansive, and will replace the firm’s former base at 530 E. Main St. The move gives the company a larger footprint and, more importantly, full control over HVAC, elevators and security—key priorities for co‑founder John Oliver.
Founded in 2015, Battle Monument focuses on acquiring retail properties that house Dollar General stores. Its portfolio now exceeds 200 locations across more than 20 states, stretching from the Sun Belt to the Northeast. Although the firm does not operate the stores, it closely monitors their performance, viewing them as a defensive, low‑correlation asset that thrives even in economic downturns. “They’re the last mile of retail,” Oliver notes, “and their rural sites keep them resilient.”
The Shockoe Slip property, built in the late 1880s, had been owned by an entity linked to Richard Stutts since the 1980s. The transaction, brokered by David Wilkins and Hamilton Shaheen of Range Commercial Partners, closed on November 20. The building’s most recent assessment was $806,000.
Oliver praised the structure as “very nice” and highlighted its central location, placing the firm within a block or two of key service providers. He added that he and Stutts were once neighbors but had never met. The 12‑person team has already relocated to the new space.
Looking ahead, Battle Monument aims to expand its Dollar General portfolio by roughly 20 % by 2026, continuing its straightforward, specialized strategy. “It’s not glamorous, but it works,” Oliver says.
