Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News Industries Commercial Real Estate Roanoke office market occupancy remained at 86 percent last year

Roanoke office market occupancy remained at 86 percent last year

Published January 23, 2015 by Robert Powell, III

An survey released Friday by Poe & Cronk Real Estate Group shows the overall Roanoke office market occupancy rate remained at 86 percent in 2014, the same percentage as the year before.

The Roanoke-based company’s 28th annual office market survey found occupancy and rental rates in all three of the area's major office sub-markets also remain unchanged.

Poe & Cronk said its data could signal a relative floor for occupancy and rental rates in the area and added that the economic outlook for this year is optimistic

As job growth continues to improve in the Roanoke Valley, many employers have limited room in their existing space for new employees, the company said.

As this capacity is absorbed and the business environment continues to improve, Poe & Cronk expects employers to seek new office space this year.

“If this growth persists, it should be strong enough that we should see office occupancy rates increase,” Poe & Cronk associate Bryan Musselwhite said in a statement.

About 57,000 square feet of office space was absorbed by new owners last year. Roanoke’s 86 percent occupancy rate was higher than the national average of 83 percent reported by the national real estate research firm REIS Inc.

REIS believes rents grew nationally by roughly 2.6 percent last year, and it expects rent growth to rise this year.

Poe & Cronk has conducted its office market survey annually since 1987. The latest survey includess data covering more than 100 nongovernmental office buildings measuring 10,000 square feet or more.

Related Stories

Virginia Business logo

Construction spending in January posts biggest year-over-year increase since 2006

Carilion Clinic to offer urgent care services in Lexington-Rockbridge area

Virginia Business logo

Coffee, gas and free Wi-FI

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk