Cushman & Wakefield | Thalhimer has announced that the former Home Shopping Network building at 1 Avery Row in Roanoke, Virginia, has been fully leased to Würth Revcar Fasteners, Inc., a Würth Industry North America company and part of the worldwide Würth Group.
The building will be the single largest Würth facility in North America and serve as the headquarters for Würth Revcar Fasteners.
The distribution warehouse building, consisting of 387,558 square feet, was occupied by the Home Shopping Network for the past 30 years. Würth Revcar Fasteners fully leased the building and expects to open their new location in the third quarter of 2022.
Würth Revcar Fasteners is a full line/full-service assembly component supplier and an approved Level One Fastener Distributor to many US Navy and military accounts worldwide. Revcar Fasteners was founded in Roanoke in 1969 and has been headquartered in the Roanoke Valley since that time.
The Würth Group, the world’s largest industrial distributor and leader of innovative supply chain solutions, acquired the company in 1996 as part of the Würth Industry North America network of companies. Würth Revcar Fasteners has enjoyed steady growth over the years and has expanded its primary service area to include the East Coast and Gulf Regions of the United States.
“We are excited to relocate Würth Revcar to a new, larger headquarters in Roanoke,” shared Dan Hill, Chief Executive Officer of Würth Industry North America, “This move represents another significant milestone for our fast-growing organization. The new facility supports our customer-centric distribution strategy in North America while accommodating our growing team. The additional space will also help drive innovation and provide the opportunity for further expansion.”
The facility on Avery Row will serve as the company’s new headquarters and its primary distribution center for the East Coast. It will be used to ship directly to customers throughout North America and distribute inventory to 8 regional branch locations.
“We are excited about the opportunity for a world class headquarters that will allow us to attract, retain, and develop top talent in the same location as a highly efficient, large scale distribution facility,” said Chapman Revercomb, Managing Director of Wurth Revcar Fasteners. “We expect to add 50 office and warehousing positions as we ramp up operations in the new facility,” he added.
Würth Revcar Fasteners’ deep ties to the region guided the company as they conducted a thorough location search. “We are excited that 1 Avery Row will allow us to remain in the Roanoke Valley, where we’ve been headquartered for more than 50 years.”
According to Revercomb, their initial investment is expected to be in excess of $5 million in office renovations, sustainable energy solutions and warehouse infrastructure, with subsequent investments in warehouse automation and equipment to far exceed this first phase of investment.
The parties to the transaction express their appreciation to the Roanoke Regional Partnership and Roanoke County Economic Development for their role in this transaction and fostering a business environment that attracts new development and retention of Roanoke-based businesses.
“As a family-owned company with a 75-year history, we place the utmost importance on positively impacting the communities we operate in, and we are thrilled to play a role in the growth of the Roanoke area through our new building,” says Dan Hill.
Norman K. Moon, Jr., CCIM, SIOR, CRE, FRICS and Kent Roberts, CCIM of Cushman Wakefield l Thalhimer represented Würth Revcar Fasteners in the lease negotiations, with the assistance of John M. Minervini, Executive Managing Director in Cushman & Wakefield’s Los Angeles office, and National Account Manager for The Würth Group of North América. Doug Faris and Derek Anderson with Binswanger represented the landlord, Blue Ridge Partners, L.L.C.