Five-story office building in Roanoke sells for $6.3 million
Franklin Plaza, a five-story, 136,455-square-foot office building in downtown Roanoke has sold for $6.3 million.
According to Cushman & Wakefield | Thalhimer Capital Markets Group, the buyer — an affiliate of Time Equities Inc. in New York — acquired the property on July 14.
The property is 50 percent occupied. Tenants include the state of Virginia, Union Bankshares and BB&T Securities. Located in the city’s Central Business District, the property has access to I-581 and amenities within walking distance.
Eric Robison, senior vice president ofThalhimer’s Capital Markets Group in Richmond, along with Price Gutshall and Barry Ward in Thalhimer’s Roanoke office, completed the sale.
“Franklin Plaza is a well-positioned office asset in Roanoke with significant upside for new ownership,” Gutshall said in a statement. “Time Equities has a strong vision for the property, and we look forward to working with them as we continue to market and lease this property.”