Waldvogel Commercial Properties Assists MacAulay-Brown in New Lease

MacAulay-Brown, Inc., a provider of advanced engineering services for the Department of Defense and other federal agencies, has leased 13,000 square feet of office space at the Pheasant Ridge Office Park off Route 220 in Roanoke. Michael Waldvogel, CCIM, SIOR, and Krista Vannoy, CCIM, represented MacAuley-Brown in the lease.

Read more about it here.

Celie Holmes Promoted to Sales and Leasing Agent

Celie Holmes has been promoted to sales and leasing agent at Waldvogel Commercial Properties. She has been the marketing and transaction coordinator since December 2011.

Before joining the firm, Holmes had more than 21 years experience in business, 14 of which were spent in real estate: development, finance, administrative, and marketing support for a large Roanoke-area builder. She is on the board at Attic Productions in Fincastle (Botetourt County’s community theater) and directs two a cappella choruses: The Smith Mountain Lake Harmeneers and the Star City Sounds Chorus. She enjoys singing a repertoire of classic jazz standards and performs at local wineries and restaurants. Her other interests include small engine tinkering, hiking and graphic design.

Celie Holmes is New Sales and Leasing Agent

Celie Holmes has been promoted to sales and leasing agent at Waldvogel Commercial Properties. She has been the marketing and transaction coordinator since December 2011.

Before joining the firm, Holmes had more than 21 years experience in business, 14 of which were spent in real estate: development, finance, administrative, and marketing support for a large Roanoke-area builder. She is on the board at Attic Productions in Fincastle (Botetourt County’s community theater) and directs two a cappella choruses: The Smith Mountain Lake Harmeneers and the Star City Sounds Chorus. She enjoys singing a repertoire of classic jazz standards and performs at local wineries and restaurants. Her other interests include small engine tinkering, hiking and graphic design.

Waldvogel Commercial Properties Promotes Celie Holmes

Celie Holmes has been promoted to sales and leasing agent at Waldvogel Commercial Properties. She has been the marketing and transaction coordinator since December 2011.

Before joining the firm, Holmes had more than 21 years experience in business, 14 of which were spent in real estate: development, finance, administrative, and marketing support for a large Roanoke-area builder. She is on the board at Attic Productions in Fincastle (Botetourt County’s community theater) and directs two a cappella choruses: The Smith Mountain Lake Harmeneers and the Star City Sounds Chorus. She enjoys singing a repertoire of classic jazz standards and performs at local wineries and restaurants. Her other interests include small engine tinkering, hiking and graphic design.

Waldvogel Commercial Properties Brokers Sale of 174-Unit Apartment Complex in Roanoke

Northridge Apartment VillageWaldvogel Commercial Properties represented the buyer in sale of Northridge Apartment Village, a 174-unit garden apartment community located along Cove Road in Northwest Roanoke. The $7.2 million sale price is the largest transaction so far this year in Roanoke City. Jason Fountain and Clay Taylor were the sales agents.

The buyer purchased Northridge Apartment Village with a significant value-add strategy in mind. The community will continue current operations under the same name with different ownership.

“As the economy continues to improve, we have seen a significant increase in real estate investment activity over the past year,” said Taylor. “Demand for investment grade assets in our market has become very strong. Investors from larger metropolitan areas are starting to compete with local buyers for opportunities.”

“Top-tier markets like Washington D.C. have experienced rapid growth over the past few years,” added Fountain. “Many investors fear that these markets are becoming overbuilt with both supply and prices outpacing demand.” According to CoStar Group, the new supply of apartment units is beginning to show up in rising vacancy rates in a number of high-growth U.S. markets. “Roanoke has not yet seen the apartment construction boom that could result in a bubble,” he said.

“Investors are attracted to markets like Roanoke because of our strong economic fundamentals combined with the opportunity to seek comparatively higher yield investments,” said Taylor. “As long as these fundamentals remain in place, we will likely see continued interest from both local and non-local investors. Ultimately, this is good news for sellers.”

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