Roanoke Office Market Statistics
Total Existing Buildings:
94
Total Rentable Square Feet:
4,980,000
Vacancy Rate (on record):
10 %
Total Available RSF:
507,000
Largest Contiguous Available Block:
48,600 RSF

The Roanoke Office Market has remained relatively stable overall during the recent twelve months. The most significant activity occurred in the Suburban Business District (South) where occupancy levels increased by 3% while only a 1-% improvement was recognized for occupancy levels in the remaining submarkets. The region continues to be attractive to companies in the manufacturing industry complimented by continued success in retaining its existing tenant base.

Comprised of three submarkets; Suburban Business District (North), Central Business District, Suburban Business District (South), the Roanoke Office Market totals approximately 5 million square feet among 94 buildings. Approximately 32% of the Roanoke Valley office market is owner occupied; the majority of which is located in the CBD. Owner occupants in the CBD include C&P Telephone, Norfolk Southern, American Electric Power Co., Sun Trust, Roanoke Times and TRIGON/ Blue Cross - Blue Shield.

 
Competing Markets
CBD North
CBD
CBD South
All Districts
Total SF
739,606
2,700,000
1,500,000
4,900,000
SF Owner occupied
111,584
1,041,635
480,787
1,600,000
Total Number of Blds
17
37
42
94
Fully occupied Blds (100%)
18
13
24
55
Total Available SF
111,094
310,225
85,906
507,225
Occupancy
90 %
90 %
95 %
87 %
The above information is deemed reliable but not guaranteed.


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