Roanoke Valley office occupancy increases by 1%

Region closes 2020 at 88% occupancy

Published March 1, 2021 by Rich Griset

The Roanoke Valley office market saw a 1% increase in office occupancy in 2020, ending the year with an 88% occupancy rate, according to Poe & Cronk Real Estate Group’s 34th Annual Office Market Survey.

These figures are a promising sign “in one of the most challenging years in recent memory,” Poe & Cronk states, adding that “while office users may not be currently using all of their office space, most are not ready to permanently commit to never needing it again.”

The survey incorporates data covering nongovernmental office buildings measuring 10,000 square feet or more.