Commercial Real Estate Experts Forecast Downtown Roanoke Growth in 2017

Hall Associates Inc., the largest commercial real estate organization west of Richmond, is predicting growth and expansion in downtown Roanoke during 2017. The firm combined their market experience with current and past sales statistics to create the outlook for the New Year.

“Hall Associates has been in business for more than 40 years, and we have seen market fluctuations all over the commercial spectrum,” said Stuart Meredith, President and Supervising Broker of Hall Associates. “We could not be more excited for what we believe this year will bring to Roanoke and Southwest Virginia.”

Hall Associates’ leasing specialists believe an increase in available Class A space, like the Norfolk Southern building, will encourage growth in downtown Roanoke and make the commercial real estate market more competitive. The agency, which specializes in both commercial and tenant representation, has also seen an influx in the number of young professionals and families wanting to experience downtown living. Hall Associates has several agreements underway to fill those types of spaces.

“There are more commercial properties listed on the market now than at any point I can remember,” said Meredith. “We’re confident there will be more restaurants and retail businesses opening, companies expanding and moving into new buildings, and, ultimately, far more employees living and working downtown.”

Hall Associates Inc. has been in business since 1975. Their commercial property database currently lists more than a dozen spaces available for sale or lease in downtown Roanoke with more than one hundred available across Southwest Virginia.