Walgreens: Chesapeake, VA

CBRE is pleased to exclusively offer for sale the 13,678-square-foot Walgreens situated on 1.58 acres in Chesapeake, VA - a component of the Virginia Beach-Chesapeake-Norfolk, VA MSA (Population: 1.82M+).​ Walgreens’ NNN lease commenced in November 2023 and features ±13.​7 years of term remaining with 5% rent increases every 5 years and in each of the twelve, 5-year renewal options.​

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  EXCELLENT ACCESS & VISIBILITY: Located roughly 16 miles southwest of Virginia Beach, Walgreens is positioned on a hard corner at the signalized intersection of South Battlefield Boulevard (33,000 VPD) and Mt. Pleasant Road (18,000 VPD), where it is less than a mile west of Chesapeake Expressway (64,000 VPD). The site is immediately adjacent Papa Johns and the 157,000-square-foot Great Bridge Shopping Center (157,000 SF), which is anchored by Kroger and further tenanted by Dollar Tree, Five Below, Pet Supplies Plus, Cato Fashions, GameStop, Chili’s Grill & Bar, Panera, Moe’s Southwest Grill, Tropical Smoothie Café and Subway, to name a few. Additionally, Walgreens is directly across from the 51,525-square-foot Wilson Village Shopping Center, which is home to Taylor’s Do It Center, AutoZone, Mister Jim’s and Court House Cafe.

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  SUBSTANTIAL BUILT-IN CUSTOMER BASE: The property is surrounded by over 25,170 households in a 3-mile radius, placing a substantial built-in customer base within close proximity.

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  RETAIL & COMMERCIAL CORRIDOR: Walgreens is within Chesapeake’s primary retail and commercial corridor with 8.6 MSF of retail, 5.2 MSF of office, 6.3 MSF of industrial and 8,939 multifamily units within a 5-mile radius. Additional retailers in the surrounding area include YMCA, Harris Teeter, Food Lion, Petco, Harbor Freight Tools, Roses Discount Store, Dollar General, AT&T, Starbucks, McDonald’s, Wendy’s, KFC, Burger King, Jersey Mike’s, Dairy Queen, AutoZone, Advance Auto Parts, Jiffy Lube, Truist, Bank of America and Wells Fargo, among others.

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  VIRGINIA BEACH-CHESAPEAKE-NORFOLK, VA MSA ADVANTAGE: The Virginia Beach-Chesapeake-Norfolk, VA MSA (Population: 1.82M+), also known as Hampton Roads, is a region located in southeastern Virginia. The region has a diverse range of industries, including defense, tourism, healthcare, education, and shipbuilding. The presence of military installations such as Naval Station Norfolk, Joint Expeditionary Base Little Creek-Fort Story, and Langley Air Force Base contributes significantly to the local economy and employment opportunities. The area is also known for its vibrant tourism industry. Virginia Beach, with its beautiful sandy beaches and lively boardwalk, attracts millions of visitors each year.