ROANOKE – Metis Holdings has purchased the former Allstate building on Electric Road in Roanoke County.
Metis will maintain the facility for office use when it occupies the building next year.
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The 165,000 square foot facility was purchased this week for $4 million and creates an opportunity for Metis to expand service offerings.
Metis intends to initially occupy up to 75,000 square feet of the building. Plans for the remaining office space have not been finalized, but Metis anticipates adding one or two additional tenants in the future.
Due to the size and scope of the facility, Chris Carey, Metis President, said it could take up to a year before new tenants are announced, but is excited about the future. “We are fortunate to have the support of the Roanoke Valley region and are very pleased to expand and remain in the Roanoke area.”
Roanoke County Board of Supervisors Chairman Joe McNamara said the sale is further evidence that Roanoke County is a great place to invest and grow a business. “I want to commend Metis for its decision to acquire the former Allstate building,” McNamara said. “We look forward to working with Chris and his staff as they make plans to grow their business and bring additional tenants to this location.”
Built in 1970, the former Allstate building has long been recognized as an important part of the local economy. Strategically located on the busy 419 corridor, the sale represents an opportunity to repurpose the building, grow jobs in the region and expand the county tax base.