Poe & Cronk Announces Sale of Downtown Office Building for $3.1M
Poe & Cronk Real Estate Group today announced the sale of the First Federal Building on the corner of Church Avenue and 1st Street SW in Historic Downtown Roanoke for $3,100,000.
The 48,000 square foot office building served as headquarters for First Federal Savings and Loan, Valley Bank, BNC Bank, and is currently occupied by Pinnacle Bank until 2020 when they will relocate to their newly constructed downtown headquarters on Campbell Avenue.
After receiving multiple offers to purchase, the property ultimately sold for the full asking price. The new owner, Kalyan Hospitality, is exploring options to renovate the property for a new downtown hotel or modern offices.
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 property was marketed for sale by Dennis Cronk, Matt Huff, and Stephen Pendergrass of Poe & Cronk Real Estate Group.
POE & CRONK ANNOUNCES NEW HIRE IN EXECUTIVE POSITION
ROANOKE, VA – Poe & Cronk Real Estate Group is excited to announce Kent Rosenberger, RPA has joined the firm as a Vice President and its Director of Property and Facility Management Services.
Kent will be leading Poe & Cronk’s …
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Poe & Cronk Announces Sale of Historic Downtown Building
ROANOKE, VA – Poe & Cronk Real Estate Group today announced the sale of a Historic Downtown Building located at 211 1st Street, SW in Roanoke, Virginia. The property sold for $1,047,500.
Dennis Cronk, CCIM and Bryan Musselwhite, CCIM …
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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 …
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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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