Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, March 25, 1995 TAG: 9503270116
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
The Roanoke-based Macado's restaurant chain signed a lease Friday for an outlet at Grand Pavilion Mall in the Tanglewood area of Roanoke County. It will be the 10th in the chain of deli restaurants in Virginia, West Virginia and North Carolina.
Owner Richard Macher said the restaurant is to open in July or August after extensive remodeling. It will be on the mall's upper level in the space where two other restaurants, Charley's and Victor's, formerly operated.
The location will have about 200 seats. The Macado's location on Church Avenue in downtown Roanoke has about 175, Macher said.
The remodeling, he said, will change the restaurant "into our atmosphere," featuring an eclectic collection of memorabilia.
The menu, like the other restaurants in the chain, will center on a large variety of sandwiches, other deli items, dinners and desserts.
Macher said that, unlike its predecessors at the site, Macado's will work to attract a lunch business. He sees its lunch customers as people who work along Electric Road and shoppers at Tanglewood Mall, especially those from out of town.
At dinner, he expects the restaurant to draw customers who live close to the area.
- MAG POFF
Office space occupancy rises
Waldvogel, Poe & Cronk Real Estate Group Inc. on Friday reported its eighth annual commercial office survey and found that occupancy rates in the Roanoke market increased in the past year.
William C. Poe, principal and broker at Waldvogel, Poe & Cronk, said his firm's survey showed there were increases in occupancy in the central business district and suburban markets.
The strength of the market, Poe said, can be seen in the increases in buildings such as Fralin & Waldron Office Park Building F, which increased from 62 to 97 percent. The Professional Park Building jumped from 71 to 97 percent, he said, and Colonnade Office Park One was up from 51 to 68 percent.
Rental for office space in the Roanoke market ranged from $6 to $24 a square foot, Poe said.
He predicted continued, steady growth in occupancy in the coming 12 months. "There are no new buildings scheduled for completion in that period of time, which should help some of the older buildings obtain better occupancies," Poe said.
- MAG POFF
Bankruptcies
Four bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. Two of them are personal bankruptcies that the court listed as businesses because they have commercial connections and could be of interest to business creditors and customers.
Alternative Motors Inc., a car sales business at Lebanon, filed for liquidation with assets of $200 and liabilities of $30,532.
Richard Lynn Hensley and Peggy Sue Hensley of Clinchport filed for liquidation and estimated assets and liabilities at less than $50,000 each. They run a trucking business.
Lewis E. Maxfield and Donna Maxfield, trading as Highlander Builders of Castlewood, filed for liquidation. They did not file an estimate of assets or liabilities.
Joseph D. Payne Jr. and Dianne P. Payne of Roanoke filed for a wage-earner plan for repayment of debts, listing assets of $92,072 and liabilities of $96,119. Dianne Payne is self-employed in child care.
by CNB