1819 Electric Rd
Roanoke, VA 24018
Office Property For Sale

Tours will be held by request and with 48 hours advanced notice. Please contact Eric Robison at 804-697-3475 or eric.robison@thalhimer.com to setup tours. On behalf of the Seller, Cushman & Wakefield Thalhimer in conjunction with Ten-X is pleased to present the opportunity to acquire the former Allstate building, ("the Property") in Roanoke, Virginia. The three-story, 165,808 square foot office building is currently vacant, having previously served as a major regional office for Allstate Insurance Company until December of 2015. The Property is situated in a campus-like setting on over 20 acres and features large open floor plates, abundant on-site parking, redundant power, a cafeteria and gym facilities. The Property is located in one of Roanoke's most successful retail trade areas and amongst its most densely populated upscale residential neighborhoods. Nearby retail amenities include the Tanglewood Mall which traded in late 2016 to a developer with plans to renovate and improve the 58 acre, Kroger and Belk anchored lifestyle center. The Roanoke suburban office market contains 8.1 million square feet and a vacancy of 8.6%. The former Allstate building represents almost 25% of the suburban office vacancy in the entire market. The tightness of Roanoke's suburban office market is further demonstrated by the lack of large block space availabilities. Currently, only two suburban office buildings exist that can accommodate a user above 40,000 sf.