Roanoke office park sells for $3.2M

The Northpark Business Center in Roanoke County sold for $3.2 million on Feb. 17, Roanoke-based Waldvogel Commercial Properties Inc. announced this week.

The 34,318-square-foot office park is located at 6701-6711 Peters Creek Road and was sold by Mechanical Development Co. Inc. The property consists of two single-story buildings that were more than 50% occupied at the time of the sale. Tenants at the time of the sale include ABS Lincs Va. Inc., Bright Personnel and Business Consultants Inc., Old Dominion Eye Foundation, The NEED Project, Professional Network Services, Schwartz & Associates PA and Encompass. 

Krista H. Vannoy and Michael M. Waldvogel represented the buyer, Fralin Properties LLC in the transaction.

Northpark was not listed for sale when the transaction occurred.

Developed in 1989, Northpark is located less than a mile from Roanoke-Blacksburg Regional Airport.

Property leasing will be handled by Waldvogel Commercial Properties, which provides commercial and industrial sales, leasing and property management in Southwest Virginia.

“The purchaser plans some updates and overall improvements and we anticipate a lease up to a market rate of occupancy,” says Krista H. Vannoy of Waldvogel Commercial Properties.