Roanoke, VA – Poe & Cronk Real Estate Group today announced the sale-leaseback of the Barrows Corporate Campus located at 3801 Blue Ridge Dr. in Roanoke, VA.
As a sale-leaseback, the Seller will remain as a tenant in the property after the sale. This type of transaction allows the business owner to utilize the capital in the real estate for investment.
The property sold at a sales price of $4,100,000 or $117 per square foot. The transaction reflected a 6.6% cap rate with the seller signing a ten-year lease to continue operating and remain at the property.
Stephen Pendergrass and Matt Huff, CCIM structured the sale-leaseback and represented the Seller in the transaction.