Roanoke shopping center sells for $2.8M
Springwood Park tenants include State Farm and Tryal Jewelry.
Roanoke’s Springwood Park Retail Center has sold for $2.8 million, Roanoke-based Poe & Cronk Real Estate Group announced Friday.
The shopping center at 3214 Electric Rd. is a 19,200-square-foot mixed use building used for retail and office space.
Springwood Park was 98% leased at the time of the sale and its tenants include Ike’s Kitchen, State Farm insurance, Swim Shop and Tryal Jewelry.
The property was marketed for sale by Stephen Pendergrass and Thom Hubard of Poe & Cronk. Bryan Musselwhite of Poe & Cronk represented the buyer, MT Holding Company LLC, in the 1031 tax exchange transaction. Springwood Associates LLC was the previous owner of the property.
Poe & Cronk provides commercial and investment real estate services in western Virginia.