7711 Plantation Road Roanoke VA - 2024_Property for Sale
7711 Plantation Road Roanoke VA - 2024_Property for Sale
7711 Plantation Road, Roanoke, VA, 24019, US

7711 Plantation Road Roanoke VA - 2024

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this opportunity to acquire 7711 Plantation Road (the “Property”), a single-tenant office building totaling 443,181 RSF leased to Wells Fargo (the “Tenant,” or “Company”). Founded in 1852 and now Roanoke Valley’s largest employer, Wells Fargo (Fitch: A+) is a publicly-traded company headquartered in San Francisco, CA that provides financial services internationally to over 35 countries and serves over 70 million customers worldwide.


As a sign of its commitment to the Property, the Tenant recently executed an extension for an additional eight years of lease term to 2032. The Tenant has also committed $86M ($197 PSF) of capital to invest in their space. This facility serves as a mission-critical operations center, primarily concerning security, theft, and fraud. The facility runs 24 hours a day, seven days a week and is also utilized as a regional training center for the bank. The Property benefits from exceptional regional access with proximity to two large interstates (Interstate 581 & Interstate 81) that provide tenants access to downtown Roanoke (14 minutes) and the Roanoke-Blacksburg Regional Airport (10 minutes).


The Property provides investors with credit income at an attractive basis - a fraction of the Tenant’s capital commitment - and long-term upside potential via a range of redevelopment options in an evolving market. Along with 7711 Plantation Road’s steady in-place cash flow, the site presents a unique redevelopment opportunity as it sits on over 31 acres zoned for industrial and commercial use.

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Attributes

Building area net
41,173 m²
Occupancy
100%
Year built
1968
Land area gross
12.61 ha
WAULT
7.5 years

Media

Investment Highlights

  • Credit Rated (Moody’s: A1; Fitch: A+) Tenant with 7.5 Years of WALT
  • $86M ($197 PSF) in Capital Committed by Tenant Demonstrating Continued Commitment to Property Long-Term
  • NNN Lease: No Landlord Responsibilities or Expenses
  • Multi-Modal Accessibility: Two Large Interstates (I-81 & I-581) and Roanoke-Blacksburg Regional Airport within 10 Minutes of the Property
  • Significant Redevelopment Potential with Over 31 Acres of Land Zoned for By-Right Industrial and Commercial Uses
7711 Plantation Road Roanoke VA - 2024 4_Property for Sale

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7711 Plantation Road Roanoke VA - 2024 (0 Properties)

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Last updated
9 Jan 2025