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Roanoke
Office Market
Statistics
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Total
Existing Buildings:
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94
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Total
Rentable Square Feet:
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4,980,000
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Vacancy
Rate (on record):
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10
%
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Total
Available RSF:
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507,000
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Largest
Contiguous Available
Block:
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48,600
RSF
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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.
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Competing
Markets
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CBD
North
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CBD
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CBD
South
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All
Districts
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Total
SF
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739,606
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2,700,000
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1,500,000
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4,900,000
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SF
Owner occupied
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111,584
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1,041,635
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480,787
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1,600,000
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Total
Number of Blds
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17
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37
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42
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94
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Fully
occupied Blds (100%)
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18
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13
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24
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55
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Total
Available SF
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111,094
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310,225
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85,906
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507,225
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Occupancy
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90
%
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90
%
|
95
%
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87
%
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The above information is deemed reliable but not
guaranteed.
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