Roanoke, VA – Poe & Cronk Real Estate Group today announced the sale of the multi-tenant flex industrial property located at the corner of Orange Ave & Plantation Rd in Roanoke, VA.
The property sold at a sales price of $6,825,000. This was a 7.5% cap rate and the property was 92% occupied at closing.
Stephen Pendergrass and Matt Huff, CCIM represented the purchaser, who is a long-term repeat client. Poe & Cronk Real Estate Group will now serve as the exclusive Leasing and Property Management Firm for the asset.
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.