Historic Roanoke building sells for $9.5M

Freedom First Credit Union will move its HQ into building built in 1919

Published September 1, 2021 by Katherine Schulte

Elmwood Building photo courtesy Freedom First Credit Union

The Elmwood Building in Roanoke sold for $9.5 million, Hall Associates Inc. and buyer Freedom First Credit Union announced Tuesday.

Located at 207 Bullitt Ave. SE in Roanoke’s Downtown Historic District, the 4-story, 46,500-square-foot building was built in 1919 and has housed a hardware store, furniture warehouse and Meridium Inc., and is currently housing GE Digital.

The building will serve as Freedom First’s corporate headquarters. GE Digital will remain on three floors, and Freedom First’s administrative offices will occupy the fourth floor, moving employees into more areas of the building as they become free.

“One of our focus areas is providing loan capital to commercial developers who transform old buildings into community assets,” said Paul Phillips, Freedom First’s president and CEO, in a statement. “So, it seems only fitting that our headquarters would be located in just such a building. With its timber framing, exposed brick, original floors and a blend of modern amenities, it’s a truly beautiful building that our team members will enjoy.”

Goodview Properties LLC, owned by Bonz Hart, was the seller. Hart was the CEO of Meridium when GE acquired it in 2016, and he retained ownership of the building until this week. Frank Martin with Hall Associates represented Freedom First in the sale. Matt Huff, president of Poe & Cronk Real Estate Group, and Jacob Quesinberry, a vice president with the group, represented the seller.