Würth Revcar Fasteners has a long history in Roanoke, Virginia, and the 387,558-square-foot industrial lease it signed in early 2022 solidifies the company’s commitment to the city. Now the single largest Würth facility in North America, Revcar Fasteners’ deal for its new headquarters was chosen by a panel of local industry experts as the best lease transaction in the Roanoke market for CoStar's 2023 Impact Awards.
Revcar Fasteners was founded in Roanoke Valley in 1969 before being acquired in 1996 by Germany-based Würth Group, which is one of the world’s largest industrial distributors. The industrial supplier has always been headquartered in the Roanoke area, but the lease at 1 Avery Row added more than 340,000 square feet to its footprint, which previously comprised a 44,000-square-foot lease on Thirlane Road.
The warehouse had been occupied by Home Shopping Network since its construction in 1989, and the company still owns it. HSN vacated the property, along with two others, in 2018 when it consolidated into a 1 million-square-foot facility in Pennsylvania.
At the time of the sale, Würth Revcar Fasteners said it planned to invest at least $5 million into renovations for office space, warehouse infrastructure and sustainable energy solutions at the property. The company also promised to bring 50 new jobs to the area and worked with the Roanoke Regional Partnership and Roanoke County Economic Development to complete the transaction.
About the property: Located on 28 acres in Roanoke’s northeast edge, the property is a 387,558-square-foot building that is mostly made up of warehouse space. About 57,000 square feet is used for office operations. It underwent previous renovations in 2000.
What the judges said: Clay Taylor, vice president of Cushman & Wakefield | Thalhimer, said he selected the lease because of the “economic impact of retaining a 50-year legacy company [and] employer in the Roanoke market.” The involvement of regional economic development groups also showed its significance, Taylor said.
They made it happen: A team from Cushman & Wakefield | Thalhimer represented the tenant in the deal. Norman Moon and Kent Roberts represented Würth Revcar Fasteners in lease negotiations, with assistance from John Minervini, who is the national account manager for the Würth Group of North America. Douglas Faris and Derek Anderson of Binswanger represented the landlord.