850 Greenbrier

850 Greenbrier Cir Chesapeake , VA 23320-2644

850 Greenbrier - Office for sale

Download Offering Memorandum

Overview


JLL is pleased to offer for sale, available together or individually, the fee-simple interest in a two-property office portfolio located in Chesapeake, VA, part of the Norfolk, VA MSA and the Hampton Roads region of Virginia and North Carolina. This institutionally-maintained and recently repositioned portfolio features 132,138 SF of office space leased to an impressive tenant roster featuring Cannon Information Technology Services (Cannon U.S.A. Inc as Guarantor), LabCorp (Laboratory Corporation of America Holdings), and Map Communications. Both buildings have been well maintained and feature attractive lobby and common areas, professionally landscaped grounds and numerous nearby amenities. The Greenbrier submarket is one of Hampton Roads premier office submarkets and features the corporate headquarters of Fortune 500 and S&P 500 component Dollar Tree (NASDAQ: DLTR). Additional major corporations such as CTDI, Cox Communications, the Federal Bureau of Investigations, and HSBC all lease over 100,000 square feet of office space in the Greenbrier submarket.

Investment Highlights


• 100% leased to Canon U.S.A. with 10 years of primary term remaining
• Canon Inc. (parent company) rated Aa3 by Moody’s
• Base year stop limits expenses and provides certainty of budget
• Abundant and above-market parking ratio
• Exceptional rent growth throughout primary term
General
Property Type Office
Tenure Type Sale / Purchase
Property Address 850 Greenbrier Cir, Chesapeake, VA 23320-2644
Building Size 81,318  ft2
Financial
Price Confidential
Cap Rate Confidential
Lease
Tenant's Name Canon U.S.A., Incorporated
Lease Expiration Date 05/31/2028
Remaining Term 9Yrs

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