Investment Highlights
Executive Summary
? Opportunity to acquire Chesapeake Square Plaza which is conveniently positioned in a trade area that features Target, The Home Depot, Lidl, Aldi, Food Lion, Walmart Supercenter, BJ?s Wholesale Club and more? Jersey Mike?s, GNC, and Starbucks all recently extended their lease periods, confirming their success and commitment to the site and surrounding trade area? Jersey Mike?s, Hair Cuttery, and Starbucks have operated at this location for9+ years? Tenants pay for CAM, taxes, insurance and maintains all aspects of the premises? Landlord responsibilities limited to roof & structure (roof is under warranty until 2029)? Ideal, low- management investment for a passive investor? The asset is located at the signalized, hard corner intersection of Chesapeake Square Ring Road and Taylor Road? Located off Portsmouth Boulevard (30,000 VPD), the primary thoroughfare serving the city of Chesapeake? Starbucks is equipped with a drive-thru, boosting sales and productivity? Jolliff Landing, a new development located 1.5 miles West of the subject property, will feature 55 townhomes and condos, 305 upscale apartments, and a four lane highway fronting the property? More than 147,000 residents and 74,000 employees support the trade area? $108,790 average household income within a 1-mile radius
