600 Independence Parkway - CHUBB Building
SALE or LEASE | Class A Owner-Occupant or Investment Building in Chesapeake
Marketing description
Colliers Virginia is pleased to announce its exclusive sale representation of 600 Independence Parkway, located in Chesapeake, Virginia. The 96,615-square-foot Class A office building is currently 100% leased to a diverse tenant roster, including professional services, defense, government, medical, and construction.
Chubb Insurance, currently occupies 55,161 square feet, or 57% of the building. Chubb’s current term ends on July 31, 2026. They are expected to vacate the building at the end of their term. This creates a unique opportunity for an owneruser to purchase the property at a significant discount to replacement cost. With no new speculative office buildings under construction in the market, 600 Independence Parkway is able to accommodate a 50,000-square-foot user or tenant. Other tenants in the building include Chesapeake Regional Medical Center, the Commonwealth of Virginia, and McHenry Management Group.
Located in Battlefield Corporate Park, the property overlooks a lake, has high visibility from the outer connector between Interstates 64 and 464, and has a spacious attractive lobby and large, efficient floor plates. The 200-acre park has over 1.1 million square feet of Class A office product with major tenants including General Dynamics, Fulton Financial Corporation, Sentara Healthcare, Strayer University, and the U.S. Government. The park is also arguably the premier business location within the overall Greenbrier submarket which is the region’s largest office submarket with over 50,000 workers. Greenbrier boasts a deep amenity base including extensive restaurant, entertainment, and retail options including the Greenbrier Mall, Town Center, and Market Center.
Investment highlights
- Size (SF) 96,162
- Site Acreage 11.397 acres
- Year Constructed 1998
- Zoning M-1, Light Industrial
- Stories 3 floors
- Parking The property includes approximately 390 paved parking spaces or 4.1 spaces per 1,000 rentable square feet.
- Structural System The exterior of the building is brick and glass, and the building has a steel structure and concrete floors. The building features an attractive lobby with double glass door entry and an open staircase to serve the upper floors.
- Landscaping Landscaping consists primarily of grass, shrubbery, and trees. The landscaped areas are served by an automatic irrigation system.
- Roof System The building roof system features an approximate 35,000 square foot mechanically-fastened TPO white rubber UltraPly PVC membrane.
- Mechanical Systems The property is heated and cooled via (3) Trane Intellipak roof-top units, each one servicing a floor in the building. The first floor is serviced by a 75-ton unit and the second and third floors are serviced by separate 90-ton units. The units utilize electricity for the air conditioning, and gas for the heating service. Space temperature control is maintained by a Trane Tracer energy management system. The mechanical equipment is maintained under a third party agreement with Damuth Trane.
- Elevators Vertical transportation between floors is provided by two hydraulic passenger elevators. The elevators are maintained under a third-party agreement with Thyssen & Krupp.
- Fire Protection & Life Safety The building is fully sprinklered with a wet-type fire suppression system. Fire hydrants are located at the front and rear of the building, and fire extinguishers are at various locations throughout the property. In addition, lighted exit signs mark the emergency exits and are hard wired with a battery back-up.
- Security The building features a perimeter security system activiated during non-standard business hours.
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