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909 Professional Pl 28,700 SF Industrial Building Chesapeake, VA 23320 For Sale
Investment Highlights
- Two tenants: Geodis (global logistics) and Galloway Group (utility materials).
- Low coverage ratio with ±3.7 acres of paved, secure IOS yard space.
- PUD zoning with industrial/logistics overlay allowing outdoor storage.
- Fully leased ±6.65-acre IOS and shallow bay portfolio with ±31,000 SF of building area.
- Strategic infill location near Port of Virginia and major interstates.
- In-place rents 10–15% below market in a submarket with 1.4% vacancy.
Executive Summary
The Greenbrier IOS Portfolio presents a rare opportunity to acquire a fully leased, two-parcel industrial outdoor storage and shallow bay warehouse asset in Chesapeake, Virginia. Spanning ±6.65 acres, the property includes a 28,700 SF shallow bay warehouse and a 2,300 SF service building, complemented by ±3.7 acres of paved, lit, and secure IOS yard space. The site features a low coverage ratio of approximately 10%, 17 loading doors, 24-foot clear height, ESFR sprinklers, LED lighting, and secure fencing with gate access.
Strategically located in the Greenbrier submarket, one of the tightest industrial and IOS markets in Hampton Roads, the property benefits from a current vacancy rate of just 1.4% and strong rent growth exceeding 48% since 2021. The location offers immediate access to major interstates and the Port of Virginia, serving over 1.9 million residents in the region. The asset is zoned PUD with an industrial/logistics overlay, allowing for flexible use and outdoor storage.
The portfolio is 100% leased to a creditworthy tenant roster, including Geodis, a global logistics leader, and Galloway Group, a national provider of fiber and utility construction materials. With in-place rents 10–15% below market and limited comparable inventory in the submarket, this offering provides significant upside potential in a supply-constrained environment.
Strategically located in the Greenbrier submarket, one of the tightest industrial and IOS markets in Hampton Roads, the property benefits from a current vacancy rate of just 1.4% and strong rent growth exceeding 48% since 2021. The location offers immediate access to major interstates and the Port of Virginia, serving over 1.9 million residents in the region. The asset is zoned PUD with an industrial/logistics overlay, allowing for flexible use and outdoor storage.
The portfolio is 100% leased to a creditworthy tenant roster, including Geodis, a global logistics leader, and Galloway Group, a national provider of fiber and utility construction materials. With in-place rents 10–15% below market and limited comparable inventory in the submarket, this offering provides significant upside potential in a supply-constrained environment.
Property Facts
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1995 |
| Property Subtype | Distribution | Tenancy | Single |
| Building Class | C | No. Dock-High Doors/Loading | 25 |
| Lot Size | 6.62 AC | No. Drive In / Grade-Level Doors | 2 |
| Rentable Building Area | 28,700 SF | ||
| Zoning | PUD | ||
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | C |
| Lot Size | 6.62 AC |
| Rentable Building Area | 28,700 SF |
| No. Stories | 1 |
| Year Built | 1995 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 25 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | PUD |
Amenities
- Fenced Lot
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Property Taxes
| Parcel Number | 0373002000240 | Improvements Assessment | $2,835,300 |
| Land Assessment | $920,900 | Total Assessment | $3,756,200 |
Property Taxes
Parcel Number
0373002000240
Land Assessment
$920,900
Improvements Assessment
$2,835,300
Total Assessment
$3,756,200
Contacts
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Bo McKown -
Eric Robison -
Geoffrey Poston -
Taylor Anderson -
Cushman & Wakefield | Thalhimer
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909 Professional Pl
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