Hello, Cardinal News readers. Welcome back to Cardinal Commerce Notes, our regular feature catching you up on various recent business news items.
If you missed last week’s edition, check it out here to learn more about a credit union’s new Blacksburg branch, a new role for a familiar face in Danville, a grant to boost a local college’s mechanical engineering program and a loan to help restart a Henry County sawmill.
A programming note: Cardinal Commerce Notes will be on spring break next week. We anticipate the feature will return on April 21.
I’m always on the lookout for news tips. Please email me at matt@cardinalnews.org or connect with me on LinkedIn and message me there.
Office, industrial properties among recent notable sales
Several commercial and industrial properties in downtown Roanoke and Botetourt County were recently sold, according to local real estate firms.
On Feb. 27, a 75,000-square foot industrial building on nearly 17 acres at 479 Eastpark Drive in Botetourt County’s Eastpark Commerce Center sold for $8.9 million, according to Waldvogel Commercial Properties.
The commerce center is home to Dynax America Corp., Arkay Packaging and Tread Corp.
Virginia Transformer Properties LLC, represented by Krista Vannoy and Michael Waldvogel of Waldvogel Commercial Properties, bought the property from Biooya Properties LLC.
Virginia Transformer Corp. did not respond to a request for more information on its plans for the property. The company was founded in 1971 and has its current headquarters on Blue Hills Drive in Roanoke. It bills itself as the largest U.S.-owned manufacturer of electrical power transformers in North America.
Also on Feb. 27, the Professional Arts building at 30 Franklin Road S.W. in Roanoke sold for $3.25 million, according to Waldvogel Commercial Properties, which called the building “an iconic part of the Roanoke skyline.”
The nine-story, 43,810-square-foot building with 63 parking spaces dates to around 1929.
Franklin PAB LLC bought the property from Professional Arts Building LLC. Vannoy and Waldvogel represented the seller.
On March 27, the six-story, 32,445-square-foot Bluestone building at 302 S. Jefferson St. in Roanoke sold for $2.2 million, according to Poe & Cronk Real Estate Group.
Finch Development bought the property from 302 Jefferson LLC. Matt Huff and Stephen Pendergrass of Poe & Cronk represented the seller.
“Interest in the building was driven by its central location, flexible layout, and proximity to new restaurants, hotels, retail, and entertainment,” Poe & Cronk said in a news release.
Are you a commercial/industrial real estate broker with a recent notable sale to share? Please send your tips my way: matt@cardinalnews.org.
Resources available for Yokohama Tire workers
Local and state officials are offering resources to help former employees of Yokohama Tire Corp. in Salem.
The tire maker shut down its Salem plant last month, impacting about 570 employees. The company cited reduced demand for the products made there.
The Greater Roanoke Workforce Development Board encourages former Yokohama Tire workers to visit Virginia Career Works’ Roanoke Center at 707 S. Jefferson St., on the third floor.
Staff there can help with job searches, accessing training and other career opportunities, and support for families, according to a news release from the workforce development board.
Virginia Employment Commission staff will be available to help with filing initial unemployment claims this week. Hours there are 8:30 a.m. to 4 p.m. weekdays, except Wednesday hours start at 9:30 a.m. Workers can call 540-613-8220 for more information or sign up to speak to staff at www.yokohamasalemworks.com.
Employers interested in connecting with Yokohama workers can contact Toni McLawhorn with the Greater Roanoke Workforce Development Board at toni@greaterroanokeworks.com or 540-988-3937.
Crumbl coming to Roanoke County
The bakery franchise chain Crumbl is coming to Old Country Plaza, on Starkey Road near Tanglewood Mall, in Roanoke County.
The opening date is unknown. Crumbl’s media contacts didn’t respond to a request for more information.
“Known for their iconic pink boxes and unique desserts, we’re excited to welcome Crumbl’s first location in the Roanoke Valley,” the county’s economic development department said in a social media post.
Crumbl’s nearest locations to Roanoke are in Blacksburg and Lynchburg.
Danville event aimed at small businesses
The Danville Office of Economic Development and Tourism is encouraging small business owners to attend the Southern Virginia Business and Procurement Experience event later this month.
It will be held from 9 a.m. to 2 p.m. April 30 at the Institute for Advanced Learning and Research at 150 Slayton Ave. in Danville. It’s free to attend but requires registration.
Attendees will have opportunities to learn how to pursue contracts with large industries and government agencies; explore local business resources; hear speakers talk about growth and strategy; and meet entrepreneurs, vendors and others, according to the economic development office.
For more information, contact Samantha Bagbey at 434-793-1753 or samantha.bagbey@discoverdanville.com.
That’s a wrap for this week. Do you know of a new business expanding or relocating in your town? Excited about a restaurant opening up soon? Maybe you’ve got an update on a story we’ve reported before. Please send me your tips and suggestions: matt@cardinalnews.org or connect with me on LinkedIn.
