804-697-3420
909 Professional Pl, Chesapeake, VA for Sale
Distribution - FOR SALE
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909 Professional Pl
Chesapeake, VA 23320
Greenbrier East


HIGHLIGHTS

  • Two tenants: Geodis (global logistics) and Galloway Group (utility materials).
  • Fully leased ±6.65-acre IOS and shallow bay portfolio with ±31,000 SF of building area.
  • Low coverage ratio with ±3.7 acres of paved, secure IOS yard space.
  • Strategic infill location near Port of Virginia and major interstates.
  • PUD zoning with industrial/logistics overlay allowing outdoor storage.
  • In-place rents 10–15% below market in a submarket with 1.4% vacancy.

OVERVIEW

The Greenbrier IOS Portfolio presents a rare opportunity to acquire a fully leased, two-parcel industrial outdoor storage and shallow bay warehouse asset in Chesapeake, Virginia. Spanning ±6.65 acres, the property includes a 28,700 SF shallow bay warehouse and a 2,300 SF service building, complemented by ±3.7 acres of paved, lit, and secure IOS yard space. The site features a low coverage ratio of approximately 10%, 17 loading doors, 24-foot clear height, ESFR sprinklers, LED lighting, and secure fencing with gate access. Strategically located in the Greenbrier submarket, one of the tightest industrial and IOS markets in Hampton Roads, the property benefits from a current vacancy rate of just 1.4% and strong rent growth exceeding 48% since 2021. The location offers immediate access to major interstates and the Port of Virginia, serving over 1.9 million residents in the region. The asset is zoned PUD with an industrial/logistics overlay, allowing for flexible use and outdoor storage. The portfolio is 100% leased to a creditworthy tenant roster, including Geodis, a global logistics leader, and Galloway Group, a national provider of fiber and utility construction materials. With in-place rents 10–15% below market and limited comparable inventory in the submarket, this offering provides significant upside potential in a supply-constrained environment.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

25

DRIVE INS

2

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.62

LAND SF

288,367

ZONING

PUD

APN/PARCEL ID

0373002000240

ASK ABOUT THIS PROPERTY

Bo McKownCushman & Wakefield | ThalhimerMore Info
804-697-3420

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Bo McKownCushman & Wakefield | ThalhimerMore Info
804-697-3420

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.