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 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.”

Two join Waldvogel Commercial Properties

McKnight “Mac” U. Garner has joined Waldvogel Commercial Properties, Inc. as a commercial and investment sales agent, and Scott Campbell is the new assistant property manager.

Garner, a Galax native, brings a rich and varied background to his new commercial real estate role. A 2003 graduate of Hampden-Sydney College, he has worked as a high school teacher, in health sciences at Wake Forest University and as a chemist at Dominion Resources’ North Anna and Surry Power Stations.

He and his wife moved to the Roanoke area from Seattle. They have a 19-month-old daughter and are expecting another girl later this fall. They are fitness enthusiasts who enjoy running. They also like to cheer on the Seattle Seahawks.

Scott Campbell is a native of Salem. He graduated from Virginia Tech in May with a degree in residential property management and a minor in real estate.

He was a track and field athlete at Virginia Tech, where he did the decathlon and was a member of the three-time Atlantic Coast Conference championship team. He enjoys spending time outdoors, hunting and hiking. He also likes cheering on Virginia Tech, the Washington Nationals and the Washington Redskins.

Neal Elliott is Waldvogel Commercial Properties’ New Agent

Neal Elliott has joined Waldvogel Commercial Properties, Inc. as a commercial sales and leasing agent.

He brings to his new position a background in hospitality management, a degree in psychology from Hampden-Sydney College and a commitment to customer service. A native of Roanoke, Elliott enjoys golf and running with his dog.

Waldvogel Commercial Properties Has the Listing for the Haley Toyota Property

As Carilion Clinic prepares to repurpose the former Ukrop’s building on Franklin Road as a medical facility, a parcel nearby is coming onto the market. Michael M. Waldvogel, CCIM, SIOR and Krista H. Vannoy, CCIM are the listing agents for the Haley Toyota site at 2613 & 2711 Franklin Road. (Haley Toyota is moving to a new location near Orange Avenue and Williamson Road.)

The 4.6-acre property features two buildings, totaling approximately 28,000 square feet. It is zoned for general commercial use in the City of Roanoke. The property is located in a busy commercial corridor – surrounded by strong existing businesses – with traffic counts of 17,000 vehicles per day. It is a block away from the proposed Carilion facility and within easy access of Interstate-581.

“This property presents an exciting opportunity for new business development along the Franklin Road corridor,” said Waldvogel.