Roanoke, VA – Poe & Cronk Real Estate Group is pleased to announce the sale of 3602 Blue Hills Drive NE in Roanoke City. The property measures 5.43 acres and sold for $710,000. An experienced real estate developer purchased the acreage and plans to build two premium hotels on the site. The location is a perfect fit for those looking for quality lodging along the busy Hwy 460 corridor that connects Roanoke to Bedford, Lynchburg and Botetourt County.
Shortly after receiving the sale assignment, Poe & Cronk’s team was able to successfully market and sell the lower acreage for the successful development of the new Chipotle and Tropical Smoothie Café.
Stephen Pendergrass and Bryan Musselwhite, CCIM represented the seller in the transaction. Mr. Musselwhite attributes the successful disposition to strategic positioning, “We decided the best way to meet our client’s objectives was to bundle the remaining acreage and market as one large development site. Not long after we made the changes to our listing, we received multiple inquiries which culminated in this deal.” Mr. Pendergrass further adds, “Our team is excited to have played a role in bringing two new premium hotels and dozens of new jobs to the city.” Poe & Cronk is excited to contribute to our community’s continued economic growth and looks forward to what the future holds for Roanoke.
About Poe & Cronk
Poe & Cronk is a locally owned and internationally recognized leading full-service commercial real estate company. The firm is comprised of a team of real estate professionals with more than 300 combined years of experience and more than $1B in real estate transaction knowledge in selling, leasing, and managing commercial, industrial, and investment real estate. In business for more than 30 years, Poe & Cronk provides commercial and investment real estate services throughout western Virginia.