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4C — June 22 - July 12, 2018 — Mid-Year Review — M id A tlantic
Real Estate Journal
R oanoke C ounty , VA
High quality living and investing – a value proposition for you Roanoke County, VA On the Move
T
he real estate market in Roanoke County, Virginia continues
The Roanoke Region is rapidly becoming known for its outdoor narrative, attracting new interest in young professionals and companies seeking to relo- cate to a high quality place at a low cost; a value propo- sition that is complimented by a thriving beer culture and growing entertainment scene. Roanoke’s outdoor brand is energizing the re- gions awareness, bringing an expanding base of out- door assets and community amenities. These notewor- thy credentials are prov-
ing beneficial to positively influencing corporate and personal location decisions. Newmulti-family housing demand is on the upswing with the development and redevelopment of multiple properties generating over 500 new multi-family units within the past two years. Recent market studies dem- onstrate that in Roanoke County alone, more than 5,000 new units can be sup- ported over the next five years in the high demand Route 419 corridor. Factored with the expected growth
in the region’s medical sec- tor, forward momentum continues with the research and medical school demand generated from the Virginia Tech Carilion School of Med- icine and Research Institute. State of the art manu- facturing facilities such as the 280,899 s/f LSC Com- munications building are ready to go for industrial users with an appetite for quality places, offering an expansion capability of more than 500,000 s/f. Prepared industrial sites can accom- modate new construction in
strategically located munici- pally- owned parks that are complete with all infrastruc- ture and deliver interstate visibility. The new 113-acre Wood Haven industrial site is being prepared for future development, with Roanoke government partners at the table. Complete with an in- credible location advantage at the region’s urban core, this new development of- fers superior visibility and a premiere destination for high impact projects at the intersection of Interstates 81 and 581. The Roanoke Blacksburg Airport is just three miles away, making access to global destinations a convenient reality. Roanoke County Office demand is also in high gear, with more than 300,000 sf of space occupied or con- structed during the past two years. Corporate expansions within the market, as well as entrepreneurship and innovation are collectively contributing to the increased demand. The trend is expect- ed to continue based upon recent sales, redevelopment projects and the anticipated conversion of existing space. The real estate market in Roanoke County, Virginia supports high quality liv- ing and investing - a valued proposition for all. With the attraction of young profes- sionals and companies seek- ing to relocate, the Roanoke County retail scene has the ability to elevate this grow- ing culture by upgrading and redeveloping as the market demand increases. Unlock this retail opportunity by be- ing a part of the redevelop- ment action at Tanglewood Mall, a 150,000 sf retail and eatertainment space within Roanoke County’s highly desirable demographic core. With the solid increase of diverse commercial proper- ties and the new growth in commercial corridors, it’s a winning combination. Roanoke County, Virginia is the next step for high quality living and investing. Developers take note. Jill Loope is the di- rector of economic de- velopment for Roanoke County, VA.
on a growth t ra j ec t ory f o r h i g h quality in- ve s tment . Well posi- t i oned on t h e I - 8 1 c o r r i d o r ,
Jill Loope
the 250 square mile County boasts a solid inventory of diverse industrial and com- mercial property, and is spurring new growth in mul- tiple commercial corridors.
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