The buyer, Blackwater Resources, understood the opportunity and outbid the other investors,” stated Tom Salanty, Executive Director, who led the sales effort for the Cushman & Wakefield team. “Tanglewood Mall presented a very promising value add opportunity to the retail investment community and attracted several qualified investors.

Nielsen, managing broker for Thalhimer’s Roanoke office. The sale was completed by a group comprised of Tom Salanty of Cushman & Wakefield’s Capital Markets Group in Dallas, as well as Eric Robison of Cushman & Wakefield | Thalhimer’s Capital Markets Group (Richmond, VA), Alex Wotring (Richmond, VA) and John K. The center was 88% occupied at time of sale.īlackwater Resources, an investment group out of Birmingham, Alabama, purchased the property. Built in 1973, with renovations completed in 2006, Tanglewood Mall is anchored by JC Penney and Belk, along with other tenants including TJ Maxx, Steinmart, Staples, AC Moore, Carmike Cinemas, Kroger, and Barnes & Noble. Situated on 58.6 acres on the busy retail corridor Electric Road, the mall is among the region’s most affluent residential neighborhoods and is just minutes from downtown Roanoke. ROANOKE, VIRGINIA: Cushman & Wakefield, and Thalhimer (Alliance partner with C&W) have represented the seller in the sale of Tanglewood Mall, a 797,524 square foot regional mall located on Electric Road, just off I-581, in Roanoke, Virginia.

Tanglewood mall