Property sale / Lease

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

CHRISTIANSBURG, VA.— Poe & Cronk Real Estate Group announced the sale of the former Dish Network call center in Christiansburg, Virginia. The sale consisted of a 101,500 SF industrial facility located on 19+ acres in Falling Branch Corporate Park at 400 Technology Drive in Christiansburg, Virginia.

Moog, Inc. purchased the property to accommodate the expansion needs of its Industrial Components Group. “We are pleased to have had the opportunity to put this transaction together which results in a win for both our client and the New River Valley Community. Moog’s expansion into the Falling Branch Corporate Park accommodates the growth needs of one of the area’s major employers, keeping great jobs in the area and bringing in many more new ones.” said Jacob Quesinberry of Poe & Cronk Real Estate Group.

Moog intends to convert the building to a production facility with planned improvements in excess of $3M. As part of this expansion, Moog will vacate a nearby facility at 2200 South Main Street in Blacksburg. Poe & Cronk Real Estate Group has been engaged by Moog to handle the disposition of the 20,000 SF asset which is currently under contract.

The property sold for $6,500,000 or $64 per square foot. Jacob Quesinberry, MBA and Dennis Cronk, CCIM CIPS CRE facilitated this transaction.

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