500 Volvo Pkwy, Chesapeake, VA

This property offers retail space within Summit Pointe, a $300 million mixed-use development. The project includes the headquarters of a Fortune 135 company and features residential, office, and retail spaces, including restaurants and stores. The development is located in coastal Virginia, within the Greenbrier retail submarket, surrounded by retail offerings, Class A office space, and corporate headquarters. It provides access to interstate traffic via two nearby I-64 interchanges. The project size is 69 acres, serving a trade area of over one million people and 375,000 households. Phase I, including the Fortune 135 company headquarters and a 1,500-car garage with free public parking, is complete. Phase II, featuring retail, residential, and office spaces, was completed in October 2020. Phase III, including retail, residential, and additional structured parking, will be completed in Spring 2023. Phase IV is in the planning stage. Parking includes 1,500 structured parking spaces and on-street parking. The project has visibility from I-64 and interstate access via Battlefield Boulevard and Greenbrier Parkway interchange, with signalized access to Volvo Parkway. Zoning allows for 500,000 square feet of retail space. Street-front retail and restaurant space, as well as anchor locations, are currently being leased, with opportunities for entertainment and experiential uses. Zoning also allows for 1,000,000 square feet of office space, anchored by a 510,000 square foot headquarters. Approximately 150,000 square feet of Class A office space and ground floor retail space are now being leased. Zoning permits over 1,400 residential units, with initial phases containing approximately 250 multi-family units. A freezer/cooler space of 297 square feet is available.