Group completes sale of former Allstate Building
VACORP will take up entire property
ROANOKE, Va. – VACORP has acquired the former Allstate Building in Roanoke, officials announced Monday.
Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller.
The building, at 1819 Electric Road, is a 165,808-square-foot office structure, on a campus-like setting on more than 20 acres, according to a news release.
Allstate Insurance Co. formerly occupied the property.
The sale is now considered complete. The purchaser, VACORP, acquired the asset Monday for $4 million and plans to fill the whole three-story property.
Amenities include an onsite cafeteria and gym, as well as abundant parking and large open floor plans.
VACORP acquired the asset Monday for $4 million and plans to occupy the entire property.
“(The property at) 1819 Electric Road is a unique asset in the Southwest Roanoke office market that provides a beautiful office setting on 20 acres,” said Barry Ward, of Thalhimer’s Roanoke Office Services Group. “It represented a great opportunity for a growing Roanoke business to provide their employees a wonderful work environment in a beautiful setting with access to multiple amenities.”
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