Contact: John Lipscomb, Bogar, L.L.C. 540-563-9903
Doug Chittum or Jill Loope, Roanoke County Economic Development 540-772-2069
ROANOKE, VA – Roanoke County Officials are cutting a ribbon to announce the opening of Valley Machine and Maintenance Company in 56,000 sq. ft. of the Ingersoll Rand building on Shadwell Drive. The event is scheduled for Wednesday February 18, 2004 at 10:00 a.m. in the training center of the facility. The machine parts manufacturing operation is the newest tenant of the building, occupying space with Ingersoll Rand’s remaining rock drill operation. Members of the media and the real estate community are encouraged to attend the event.Valley Machine was established in 1975 by Gary Sledd, CEO, who specializes in metal fabrication and machine work for customers in industries such as transportation, heavy construction, plastics, printing and industrial tools. Valley has obtained ISO 9002:1994 certification and has developed and implemented the ISO 9001:2000 Quality Management System to ensure that its products, standards and services meet or exceed the rigorous blending and safety requirements demanded by their customers. Their ability to compete in a worldwide marketplace is enhanced by their commitment to a quality management system.
Sledd, one of the principal owners of the Ingersoll Rand property occupies space in the facility due to the steady growth of Valley Machine over the past 29 years, and the need for expansion opportunities. The company currently employs approximately 55 people at the Ingersoll facility.
Bogar, L.L.C., the investment group that owns the Ingersoll facility, is also announcing its development plans for the remaining 70-acre site during the event. Facility tours and a presentation of a concept plan for the proposed development will be featured during the grand opening. There is approximately 225,000 sf. of vacant manufacturing space and 30,000 sf. of office space currently available for lease to new businesses.
The property is zoned for industrial uses, and the owners have expressed an interest in leasing the space to a variety of industrial, distribution and office tenants. The Roanoke County office of Economic Development will assist with marketing the property to companies for new business development opportunities.
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About Bogar, L.L.C.
Two of the new owners, operating under several ownership names, John Lipscomb and David McCray have redeveloped the Lane Furniture plant in Rocky Mount, the Singer Furniture plant in Roanoke, the Halmode Apparell plant in Roanoke, and other facilities throughout the Southwest and Central Virginia area. They also successfully converted the Roanoke-Salem Plaza and the K-Mart on 24th Street and Melrose Avenue from strictly retail properties to light industrial/retail centers.