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Poe & Cronk Real Estate Group Awarded Listing Assignment for the Sale of First Federal Office Building in Downtown Roanoke

ROANOKE, VA (June 4, 2019) - Poe & Cronk has been selected to represent the owners of the sale of the eight story First Federal Building on the corner of Church Avenue and 1st Street SW in Historic Downtown Roanoke. The 48,000 square foot office building served for years as headquarters for First Federal Savings and Loan Association, Valley Bank, and is currently serving as the Roanoke headquarters of Pinnacle Financial Partners until Q1 2020 when they will relocate to their newly constructed downtown headquarters.

The First Federal Building was originally constructed in 1958 and is one of Roanoke’s landmark assets. The property fronts 125 feet on Church Ave. and 95 feet on 1st Street SW in the heart of downtown Roanoke’s reviving Central Business District.

The First Federal Building is located within an Opportunity Zone, a new community investment tool established by Congress in the Tax Cuts and Jobs Act of 2017.

“We are excited to have been selected for this assignment. The availability of this property creates an exceptional downtown opportunity. Our marketing efforts will target possible users, investors, and developers.” according to Matt Huff, Executive Vice President & COO of Poe & Cronk.

“Downtown is riding a wave of positive momentum including the recent redevelopment of the Heironimus Building in the same block which will make way for the anticipated Mast General Store. This block will also house downtown’s newest redevelopment “Printer’s Alley”, in addition to the nearby redevelopment of The Liberty Trust Office Building into a Boutique Hotel. It’s an exciting time for Downtown Roanoke.” according to Stephen Pendergrass, Vice President at Poe & Cronk Real Estate Group.

The property will be marketed for sale at a price of $3,100,000 by Dennis Cronk, Matt Huff, and Stephen Pendergrass of Poe & Cronk Real Estate Group.

Poe & Cronk Selected to Manage and Lease THE ELMWOOD BUILDING

Former Meridium location now known as The Elmwood Building
*Space Now Available for Lease*
Poe & Cronk Real Estate Group is proud to announce it has been awarded the assignment as the Exclusive Leasing and Management Firm for The Elmwood …
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POE& CRONK RELEASES 32ND ANNUAL OFFICE MARKET SURVEY

ROANOKE, VA. (February 20, 2019)— Poe & Cronk Real Estate Group today released the results of its 32nd Annual Office Market Survey, reporting a strong increase in the overall Roanoke Valley office occupancy rate from 84% to 87% in …

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POE & CRONK ANNOUNCES SALE 19+ ACRES and 102,000 SF HIGH-TECH INDUSTRIAL BUILDING

CHRISTIANSBURG, VA.— Poe & Cronk Real Estate Group today announced the sale of 400 Technology Drive in Christiansburg, VA. The Seller, DISH Network, LLC, was the former occupant of the 102,000 SF High-Tech Operations Center in Falling Branch Corporate …

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Poe & Cronk Property Sales & Leasing

Poe & Cronk Announces Sale of Former Distinctive Car Care and Vehicle Storage Facility

ROANOKE, VA – Poe & Cronk Real Estate Group today announced the sale of the property formerly known as Distinctive Car Care and Vehicle Storage which includes a 7-Bay automotive service building, 60 automotive storage units, and developable land located …

Poe & Cronk Announces Sale of Retail Building in Daleville

ROANOKE, VA – Poe & Cronk Real Estate Group today announced the sale of a 3,000 SF Retail Building located at 1298 Roanoke Road in Daleville, Virginia. The property sold for $251,300. Thom Hubard, CCIM and Stephen Pendergrass represented the …

Poe & Cronk Announces Sale of Historic Property in Old SW

ROANOKE, VA – Poe & Cronk Real Estate Group today announced the sale of the Historic Markley Home. This 3,360 SF historic home was built in 1884 and is located at 1112 2nd Street in Roanoke, Virginia. It will …

Poe & Cronk Announces Sale of Industrial Building

ROANOKE, VA – Poe & Cronk Real Estate Group today announced the sale of a 22,703 SF Industrial Building located at 2550 Shenandoah Avenue in Roanoke, Virginia. The property sold for $860,000. Adam Hardy, CCIM, CLTD represented the Seller in …

Poe & Cronk Announces Sale of Manufacturing/Warehouse Facility

ROCKY MOUNT, VA – Poe & Cronk Real Estate Group today announced the sale of 78,000 SF manufacturing/warehouse facility located at 685 Tripple Creek Road in Rocky Mount, Virginia. The property sold for $800,000 and was under contract and closed …

Poe & Cronk Announces Sale of Historic Downtown Retail Building

ROANOKE, VA – Poe & Cronk Real Estate Group today announced the sale of a 4,400 SF Retail/Office Building located at 22 Campbell Avenue in downtown Roanoke, Virginia. This historic building is located on the Roanoke City Market. The property …

Poe & Cronk Announces Sale of Hope Tree Retreat and Conference Center

MONTVALE, VA – Poe & Cronk Real Estate Group today announced the sale of Camp Hope Tree Retreat and conference center situated on 84 acres and located at 2494 Camp Jaycee Road in Montvale, Virginia. The property sold for $610,000.…

Poe & Cronk Announces Sale of Retail Site

MADISON HEIGHTS, VA – Poe & Cronk Real Estate Group today announced the sale of 1.09 acre retail site located at 4886 Amherst Hwy in Madison Heights, Virginia. The property sold to Waffle House for $299,500 who plans on building …