ROANOKE, VA — Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller in the sale of the former Allstate Building located at 1819 Electric Rd. in Roanoke. This 165,808 s/f 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 said, “1819 Electric Rd. 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.”