Featured Property:
Salem - West Main Retail Opportunity
FOR SALE - Great location for an office or retail business in Salem on W. Main Street right next door to CVS. With enough parking for 24 cars, this building works well for one or two tenants. New roof installed in 2011 (w/ 15yr warranty), and a new 5-ton heat pump installed in 2007. Bargain priced - call today for a tour!
Call Bryan or Richard for more information.
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Focus on 460 (East)
Major Retail Activity Light
 The East side of Roanoke County along the U.S. Route 460 corridor has seen a lot of changes over the past couple of years, most notably the relocation of the Kroger further east. Recognizing the value of reaching the expanding number of households in the County, Kroger constructed a large flagship grocery store with fuel pumps and additional complementary retailers on the site. As developers and smaller tenants remain active along 460-East, several large spaces have remained vacant, specifically: the former Kroger at King Street, and the former Food Lion suite within Market Square East. I know the owners of each center are ready and eager to deal. These locations provide an excellent opportunity for a large space user to come into the market without the delays inherent in new development. An alternate grocery store chain would be ideal, but Kroger's market dominance is substantial. I wonder how long they will be able to discourage other grocers from entering this popular trade area as rental rate continue to decline? Here are the historical vacancy and rental rate trends for the 460 Corridor from Williamson Road to US 220 Alt.  source www.costar.com |
