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
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 ,
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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