ROANOKE, VIRGINIA:

Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller (undisclosed) in the sale of the former Allstate Building located at 1819 Electric Road in Roanoke, Virginia. This 165,808 square foot office building, formerly occupied by Allstate Insurance Company, is located in a campus-like setting on over 20 acres in one of Roanoke’s strongest corridors. Amenities of the 3-story property include an onsite cafeteria and gym, as well as abundant parking and large open floor plates.

The Purchaser, VACORP, acquired the asset on June 12, 2017 for $4 million and plans to occupy the entire property. The sale was completed by Eric Robison, Senior Vice President of Cushman & Wakefield | Thalhimer’s Capital Markets Group, along with Barry Ward and Price Gutshall of Thalhimer’s Roanoke Office Services Group. Ward stated, “1819 Electric Road is a unique asset in the Southwest Roanoke office market that provides a beautiful office setting on 20 acres. It represented a great opportunity for a growing Roanoke business to provide their employees a wonderful work environment in a beautiful setting with access to multiple amenities.”  According to Gutshall, “Thalhimer created an active marketing campaign and a competitive bidding process that attracted multiple offers. VaCoRP, a rapidly growing Roanoke-based company, was the perfect fit and we are excited to see them expand with this great asset.”