Design Firm Maintains Hold on 36,500-SF Home

ROANOKE, VA-With the help of its exclusive tenant representatives, Michael Divaris and Maureen Rooks of Divaris Real Estate Inc., the architectural and engineering design firm of Hayes, Seay, Mattern & Mattern has negotiated the renewal of its lease at 1315 Franklin Rd. HSMM renewed its full occupancy of the 36,500-sf building for a 10-year term, Rooks tells GlobeSt.com. The owner of the building is a former HSMM partner.

Located on a nearly two-acre parcel, the office building at 1315 Franklin Rd. was built in 1973. Roanoke city records indicate that the four-story brick property has a current assessed value of a slightly more than $2 million. The terms of HSMM’s lease renewal have not been disclosed. However, according to the NAI Real Estate Planning Guide, asking rents for class B office space in suburban Roanoke range from $10 to $16 per sf. HSMM has 11 offices on the eastern seaboard, including locales in Virginia Beach and Lynchburg, as well as Washington, DC.