(ROANOKE COUNTY, VA – October 13, 2022) – The newly completed Fallowater Square office building is officially open and fully leased with national tenants Long & Foster Real Estate and National Spine & Pain Centers. The 17,000-square-foot office building was redeveloped by ABoone Real Estate from three underutilized residential properties into a multi-tenant, two-story commercial office building. The new office space joins the economic development activity along Route 419 in Roanoke County.
“We’re excited to complete this office project in Roanoke County and have it fully leased with great national tenants,” said Alexander Boone, owner of ABoone Real Estate, Inc. “Roanoke County’s recent investments in the 419 corridor have resulted in new commercial growth in this area, while encouraging property owners to invest in creative redevelopment projects. We are pleased with the partnerships formed with Roanoke County and our new Fallowater tenants and excited to be an early partner in Reimagine 419.”
The two floors of Fallowater Square are being occupied by Long & Foster Real Estate on the first floor and National Spine & Pain Centers on the second. Long & Foster relocated to the space from another location on the 419 corridor, which is now the headquarters of regional CPA firm, Brown Edwards.
Long & Foster Real Estate, headquartered in Virginia, is one of the largest real estate companies in the United States. National Spine & Pain Centers provides relief of chronic and acute pain with more than 120 locations and 750 medical professionals within their network.
Fallowater Square is included in the Reimagine 419 Plan area developed by Roanoke County to revitalize its premier commercial corridor. The area plan includes a targeted approach to improving infrastructure along Route 419, driving private investment to the area and breathing new life into Tanglewood. Business announcements such as Carilion Children’s Tanglewood Center, Chili’s Grill & Bar and Burlington have sparked a renewed interest into the area, while more than $60 million in infrastructure improvements have been completed or are underway.
“The Reimagine 419 Plan has paved the way for new redevelopment projects.” said Jill Loope, Director of Economic Development in Roanoke County. “We are grateful for local developers like Alexander Boone that are creative, visionary and willing to invest in their community.”
The Reimagine 419 Plan received four awards from state and national organizations in 2022 including the International Economic Development Council, the National Association of Counties, the Southern Economic Development Council and the Virginia Economic Developers Association. Roanoke County has received recognition for various economic development initiatives and innovative programs in previous years.