ROANOKE, VIRGINIA:

Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the seller in the sale of Franklin Plaza, a five-story, 136,455 square foot office building located in the heart of downtown Roanoke, Virginia at 111 Franklin Road.
The property is 50% occupied with tenants including The Commonwealth of Virginia, Union Bankshares, and BB&T Securities. Well-located in the central business district, the property has easy access to I-581 and numerous amenities within walking distance.
The Purchaser, an affiliate of Time Equities, Inc. out of New York, New York, acquired the trophy asset on July 14, 2017 for $6,350,000. The sale was completed by Eric Robison, Senior Vice President of Cushman & Wakefield | Thalhimer’s Capital Markets Group, along with Price Gutshall and Barry Ward in Thalhimer’s Roanoke office.
Brian Soto, Associate Director, Acquisitions and Asset Management with Time Equities, Inc. said, “We are enthusiastic about the opportunity presented in Franklin Plaza, which we believe to have the potential to again be a top performer in the market. We are excited to bring our expertise in asset repositioning to the Roanoke CBD, and look forward to providing the business community with a desirable quality office product to call home.”
 “Franklin Plaza is a well-positioned office asset in Roanoke with significant upside for new ownership,” said Price Gutshall of Roanoke’s office brokerage group, “Time Equities has a strong vision for the property and we look forward to working with them as we continue to market and lease this property.”
Barry Ward, also of Roanoke’s office brokerage group added, “Time Equities’ new investment in the region demonstrates continued strength and confidence in the Roanoke office market.”

“We look forward to implementing a fresh and innovative business plan to improve and re-position Franklin Plaza and return the building to being one of the best places to do business in Roanoke.” said Max Pastor, Director of Acquisitions & Senior Counsel of Time Equities, Inc.