Business parks booming with growth and opportunity

Montgomery County, Virginia - The business parks in Montgomery County are booming with growth and opportunity. Home of Virginia Tech and the towns of Blacksburg and Christiansburg, the county has had a number of recent expansions in Falling Branch Corporate Park, the Virginia Tech Corporate Research Center, and Blacksburg Industrial Park. Despite the recent success, all three business parks still have plenty of opportunities to accommodate future growth.

Falling Branch Corporate Park in Christiansburg is a prime example of growth and opportunity in the county. Located at the convergence of Interstate 81 and U.S. Route 460 bypass, the 170-acre upscale industrial park is 10 minutes from Blacksburg and 25 minutes from Roanoke. The park has a 1 million gallon water tank, its own electric substation fed by a redundant 138 Kv transmission line, and redundant fiber available through multiple internet providers.

“The park’s infrastructure is quite impressive, even by industrial standards,” says Brian Hamilton, Economic Development Director of Montgomery County. “Falling Branch is a great location for any industry needing direct interstate access and ample, reliable power, water and gigabit bandwidth.”

New development in Falling Branch has greatly accelerated over the past few years. In 2012, Utah-based Backcountry.com opened its $22 million, 315,000 square-foot East Coast fulfilment center. One month later, Aeroprobe Corporation announced plans to invest $3 million to construct its 20,000-square-foot headquarters and manufacturing facility. The momentum carried over into 2013 with Polymer Solutions Incorporated announcing a new $2.9 million, 20,000-square-foot headquarters and testing lab in the park.

The Economic Development Authority of Montgomery County (EDA) is looking to build upon Falling Branch’s recent success. It has completed full architectural and civil plans for a 105,000 square-foot flex building on Lot 2, a 16.7 acres site with has excellent visibility from Interstate 81. The Falling Branch Virtual Shell is shovel ready upon receiving a letter of intent and expandable to 205,000 square feet. The EDA also has several other graded lots remaining, ranging from 3.7 acre and 9.5 acres.

The Virginia Tech Corporate Research Center (CRC) is a visible example of the growing technology sector in Montgomery County. The 230-acre research park, adjacent to Virginia Tech’s campus in Blacksburg, boasts over 1 million square feet of Class A office and lab space in 30 buildings. Another 16 buildings are slated for construction in Phase II of the park.

The CRC is currently home to over 160 research, technology and support companies and centers in a diversity of industry sectors, ranging from biotech to software development. Total park employment tops 2,700. Earlier this year, San Antonio-based Rackspace Hosting opened its new $5.5 million, 31,000-square-foot office in the park.

The CRC has a unique business model unlike most research parks. Businesses located in the CRC benefit from short-term, flexible lease options; quality support services; employee amenities; and its innovative, entrepreneurial culture facilitates productive collaborations.

“We don’t just offer commercial real estate,” says Joe Meredith, CRC President. “We devote a great deal of time and energy toward helping companies here grow and be successful. If they succeed, we succeed.”

That business model has certainly paid off. The CRC’s success received international attention in 2010 when it was named the Outstanding Science/Research Park of the Year by the Association of University Research Parks.

The CRC has a number of existing suites available for lease ranging from several hundred square feet all the way up to 7,000 square feet. For companies needing larger increments of space, the CRC has build-to-suit lease options. Graded sites, ranging from 2 to 9 acres, are also available for long-term lease for companies interested in constructing and owning their own building.

Blacksburg Industrial Park is in a state of resurgence. Located off U.S. 460 Bypass, it is the closest industrial park to Virginia Tech and the CRC. Home of several major manufacturers, including Federal Mogul and Wolverine Advanced Materials, the park began running out of developable sites in the early 2000s.

In 2012, the EDA leveraged a public-private partnership to open 60 additional acres for development in the Blacksburg Industrial Park. Phase V is located adjacent to the Virginia Tech Transportation Institute and the Virginia Smart Road – a 2.2-mile, controlled-access test track built to interstate standards. Phase V available lots range from 4 to 4.5 acres.

Proximity to the Virginia Smart Road was a benefit for TORC Robotics, a leader in robotic autonomous vehicle solutions. Earlier this year, the company announced a $3 million expansion in Phase V. The EDA is supporting the expansion by constructing a 20,000-square-foot facility for TORC to lease. The company has also purchased 10 additional acres in Phase V to build an off-road test track for its autonomous vehicles.

The Blacksburg Technology Building is another prime example of the EDA investing in the Blacksburg Industrial Park. The 109,000-square-foot building is a state-of-the-art facility with an 11,000-square-foot Class 100 to 10,000 clean room. The building was constructed in 2002 and is owned and managed by the EDA.

The Blacksburg Technology Building currently has a 55,000-square-foot suite available for lease. The suite includes the 11,000-square-foot clean room and has a combination of Class A office, dry lab and warehouse space. The clean room features air, deionized water, nitrogen and vacuum loops; acid waste scrubber; 400 ton chiller and a 1,000-square-foot hazardous storage facility. The suite also has an open cafeteria area with an adjoining outdoor patio overlooking the scenic beauty of Ellett Valley. The suite can be leased as is or can be renovated to meet the unique needs of a prospective tenant.

“We have a lot of opportunities for continued growth in Montgomery County,” says Hamilton. “Whether it’s Falling Branch, Blacksburg Industrial Park or the CRC, there are a wide variety of sites and buildings available to meet any number of industrial or corporate users. The possibilities are endless and that’s exciting for our community.”

To view a full inventory of available sites and buildings in Montgomery County, including Blacksburg and Christiansburg, visit CRE.YesMontgomeryVA.org.

About Us

Montgomery County, Virginia - home of Virginia Tech and the towns of Blacksburg and Christiansburg - is a progressive, technology-driven community with an abundance of outdoor amenities. The Montgomery County Economic Development Department actively supports the startup, retention and expansion of companies in Montgomery County as well as the recruitment of new businesses to the community.  To learn more, visit www.YesMontgomeryVA.org.