FedEx Ground Distribution
For Sale
Contact for pricing
1401 Kelland Drive, Chesapeake, VA 23320
Corporate-guaranteed distribution facility with expansion history and direct access to major interstate routes.
Property Size92,611 SF
Lot Size9.00 Acres
Days on Market145
Property Features for 1401 Kelland Drive
General Information
Standard status
Active
Size
92,611 SF
Lot size
9.00 Acres
Property subtype
Retail, Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Renovated
2014
Building Size
92,611 SF
Tenancy
Single
Listing Agency:
SAB Capital
Listed By:
Preet Sabharwal · License #NY 10401215775
Source:
Crexi
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 30 at 7:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SAB Capital
Investment Insights
Based on property information with market context.
The property is a 92,611-square-foot distribution center occupied by FedEx Ground. The tenant has operated at the facility since 2000 and expanded the building by 13,475 square feet in 2007. A renovation was completed in 2014, and the lease is supported by a corporate guaranty from FedEx Corporation.
The facility occupies a nine-acre lot at 1401 Kelland Drive in Chesapeake, Virginia, just off South Military Road. That road provides direct access to Interstate-464, which carries more than 58,000 vehicles daily. Interstate-64 is less than one mile away and records more than 111,000 vehicles per day.
FedEx exercised its second five-year extension option early, with that term commencing December 1st, 2017. The extension includes a 5 percent rent increase, and one additional five-year option remains with a 6 percent increase.
The facility occupies a nine-acre lot at 1401 Kelland Drive in Chesapeake, Virginia, just off South Military Road. That road provides direct access to Interstate-464, which carries more than 58,000 vehicles daily. Interstate-64 is less than one mile away and records more than 111,000 vehicles per day.
FedEx exercised its second five-year extension option early, with that term commencing December 1st, 2017. The extension includes a 5 percent rent increase, and one additional five-year option remains with a 6 percent increase.
Key Highlights
- 92,611‑square‑foot FedEx Ground distribution center
- Nine‑acre lot at 1401 Kelland Drive in Chesapeake, VA 23320
- FedEx tenant occupancy dates to 2000
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 23320, VA
60,412
Population
26,131
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
93%
High-School Grad
31.7 sq mi
ZIP Area
1,906
Density / Sq Mi
$81,736
Median Household Income
$49,403
Median Earnings
$1,654
Median Rent
$323,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - Corporate-guaranteed distribution facility with expansion history and direct access to major interstate routes.
Where is this distribution center located?
The property is located at 1401 Kelland Drive Chesapeake, VA.
What are key features of this property?
This property features: 92,611‑square‑foot FedEx Ground distribution center; Nine‑acre lot at 1401 Kelland Drive in Chesapeake, VA 23320; FedEx tenant occupancy dates to 2000
