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Capital Markets Group Completes $1.1M Sale of Eastgate Apartments in Roanoke

ROANOKE, VIRGINIA, April 21, 2023 – Cushman & Wakefield | Thalhimer’s Capital Markets Group is pleased to announce the sale of Eastgate Apartments located at 1609 19th Street NE in Roanoke, Virginia.

Built in 1977, Eastgate Apartments offers fourteen townhome-style apartments, each with approximately 1,000 square feet and two bedrooms and one bath. The property is located less than three miles from downtown Roanoke in Northeast Roanoke City, offering immediate access to U.S. Route 460, which is a major commercial arterial connecting Roanoke, Vinton, & Lynchburg to the East.

Restoration Turnkey Investments, LLC acquired Eastgate on March 28, 2023 from Rafan LLC for $1,137,000. Clay Taylor, CCIM of Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller in the marketing and sale of the property. The purchaser intends to pursue a value-add strategy after closing, including extensive interior and exterior renovations.

About Cushman & Wakefield | Thalhimer
Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, Virginia. The company has nearly 100 broker professionals and employs nearly 425 associates. Thalhimer represents, on behalf of its clients, a property portfolio of nearly 55 million leasable square feet, and management of nearly 30 million square feet of commercial property, and over 9,000 multifamily units. In 2022, Thalhimer completed over 1,900 transactions with a transactional volume of more than $2.3 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services. The firm offers comprehensive commercial real estate services including corporate services, investment sales, tenant representation, project management, asset management, and the sale and leasing of office, industrial and retail properties.
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Thalhimer’s Capital Markets Group is the region’s leading investment sales team made up of professionals focused solely on capital markets and the sale of income-producing properties throughout Virginia. The team is experienced in office, industrial, retail and multi-family dispositions and since 2012 has completed 358 transactions totaling over $5.34 billion and over 60 million square feet.

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About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit or follow @CushWake on Twitter.

Written on April 24, 2023