Carilion Clinic buys Shenandoah Life headquarters building for $4.6 million

Carilion Clinic said Tuesday that it has purchased the current headquarters building for Shenandoah Life for $4.6 million. The 88,000-square-foot building is located on a 27.5-acre site at 2301 Brambleton Ave. SW in Roanoke.

The deal means the life insurance company will be relocating to a new space, and Shenandoah intends to stay in the Roanoke area.

“Carilion continues to grow to meet the health-care needs of our community,” Curtis Mills, senior vice president of facilities and properties, said in a statement. “As our services expand – and as demand for our services expands – the need for additional space is ever present.”

Though plans for the building have not been determined, Carilion says it is continuously exploring alternatives that would free up clinical space. 

Carilion is partnering with Shenandoah Life to allow the company to occupy its current office for up to a year while the company finalizes plans to relocate.

Shenandoah, and its parent company, Prosperity Life Insurance Group, said they are currently evaluating several office spaces in Roanoke and are committed to maintaining a significant presence in in the city.

The Poe & Cronk Real Estate Group in Roanoke represented Shenandoah Life in the sale.  The property offers 285 parking spaces. 

Carilion Clinic is a not-for-profit healthcare organization serving nearly one million people in Virginia through hospitals, outpatient specialty centers and advanced primary care practices.