Aug 21, 2012 

 
Have You Heard?

    

Greetings!
 

The Grapevine has learned that a national distribution company will greatly expand its operations in Roanoke City. The "name-brand" company will develop a new facility well in excess of 100,000 square feet. Stay tuned for more details. 

Featured Property: 
1st Floor - State & City Building

 

FOR SALE -
Significant Price Reduction! Located at the corner of First Street & Campbell Ave, within the central business district, this 3,455 sq ft space can easily be adapted for a number of retail or office uses. This floor was profitably occupied by Frank L. Moose Jewelers for over 83 years. Nearby courthouse, bank headquarters and attorney offices make this a highly sought after location. 

Call Bryan or Richard for more information.
Beyond the Stats   

The Art of Salesmanship   
 
                                       

You may have noticed that our demographic analysis made some rather broad assumptions. Unfortunately, professionals unfamiliar with our region occasionally base decisions about the Roanoke Valley's buying power based on this kind of cursory analysis.

 

For instance, we locals know that our retail market extends beyond the boundaries of the pre-defined MSA into the New River Valley, Lexington and Bedford. We also instinctively understand where the money is and where our traffic patterns take us on a daily basis. Is it really any wonder why the Panera at Tanglewood or the Sheetz at Williamson and Orange are so successful?

 

When recruiting national retailers, we make sure they see our Valley beyond the arbitrary delineations of the census bureau. We don't dispute their data, but we might question whether its parameters are accurate. We might point out that averages are less relevant where affluence is highly concentrated or that it not necessarily the amount of traffic that matters, but the kind of traffic that matters. We present them with additional data that encourages them to re-evaluate our trade area or a particular site. These are the kinds of salesmanship efforts that make our valley more desirable to retailers and help keep our property values rising. 

 

 

Issue: 12          

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Hokie Stealth Photograph



 

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In This Issue
Featured Property
Beyond the Stats
What did it sell for?




2501 W. Main Street
Salem, VA

This property known to most of us as the 84 Lumber store sold in July. The lot is 2.6 acres and enjoys 478 feet of valuable frontage along Salem's busiest commercial corridor. The principal structure is 17,446 square feet which makes the purchase price equate $39.95/ft.

  

 

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Richard Wellford, CCIM
(540) 855-3648
 Email
VCard


Bryan Musselwhite
(540) 855-3654
Email
VCard
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Richard Wellford and Bryan Musselwhite
Commercial Real Estate Grapevine