ROANOKE COUNTY, Va. – Roanoke County’s Tanglewood Mall is under new ownership, and county leaders are hopeful for what this new phase could bring.
Richmond-based company Hackney Real Estate Partners bought the property earlier this week.
Built in 1973 on Electric Road, Board of Supervisors Vice-Chair Paul Mahoney said Tanglewood Mall used to be a commercial center but then fell on hard times. Even with renovations over the years, much of the space sat empty.
“The strip there is the commercial heart of this part of Roanoke County,” Mahoney said. “They had some previous owners who really had not focused on maintaining the mall, trying to improve it.”
It was sold again in 2016, alongside plans for the 419 town center.
In the years since there have been several new additions to the nearly 60-acre site like Carilion Children’s.
“We’re very optimistic with what the previous owners were doing,” Mahoney said. “We’d been working with them for many years as a part of the ‘Reimagine 419′ program, and so the new owners had reached out to us. We explained to them what Roanoke County’s hopes were for the redevelopment of that Tanglewood Mall area. They seemed to be very receptive.”
Hackney Real Estate Partners tell us they hope to build on that foundation.
“We are excited about the acquisition of Tanglewood Mall and look forward to being a part of the Roanoke community,” the group said in a statement. “Our goal for the center is to build upon the foundation established by the prior owner and maintain the property as a first-class asset for Roanoke and the surrounding communities.”
Roanoke County Economic Development Director Megan Baker said she’s looking forward to learning more about their vision and watching it grow.
“Tanglewood really is becoming that destination for healthcare, for dining, for retail,” Baker said.
Another piece of news, the highly anticipated Chili’s will be opening its doors in just a few weeks.
“Really is going to add to the diversity of dining options at Tanglewood,” Baker said. “Last year alone we had Panda Express, Blaze Pizza, and Jersey Mikes open.”