25
Spence Crossing FOR LEASE S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453 CONTACT US CBRE|Hampton Roads | 150 WEST MAIN STREET | SUITE 1100 | NORFOLK | VA, 23510 | +1 757 490 3300 | WWW.CBRE.COM/NORFOLK © 2017 CB Richard Ellis of Virginia, Inc. Part of the CBRE affiliate network. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/ or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CHRIS READ Senior Vice President +1 757 228 1803 [email protected] NED BROOKS Senior Vice President +1 757 228 1829 [email protected] + Outparcels and small shop space in Hampton Roads’ premier new retail development + Located near military, municipal, educational, medical, entertainment and sports venues as well as other existing retail centers. + Part of a major new mixed-use development by one of the region’s leading developers, The Dragas Companies. DEVELOPED BY:

FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

  • Upload
    others

  • View
    1

  • Download
    0

Embed Size (px)

Citation preview

Page 1: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

CONTACT US

CBRE|Hampton Roads | 150 WEST MAIN STREET | SUITE 1100 | NORFOLK | VA, 23510 | +1 757 490 3300 | WWW.CBRE.COM/NORFOLK

© 2017 CB Richard Ellis of Virginia, Inc. Part of the CBRE affiliate network. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

CHRIS READSenior Vice President

+1 757 228 [email protected]

NED BROOKSSenior Vice President

+1 757 228 [email protected]

+ Outparcels and small shop space in Hampton Roads’ premier new retail development

+ Located near military, municipal, educational, medical, entertainment and sports venues as well as other existing retail centers.

+ Part of a major new mixed-use development by one of the region’s leading developers, The Dragas Companies.

DEVELOPED BY:

Spence Crossing RS PKG.indd 1 9/18/2017 2:27:06 PM

Page 2: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

EXECUTIVE SUMMARYPROPERTY DESCRIPTION: Shoppes at Spence Crossing is a portion of a 130 acre new mixed use project

located in Virginia Beach, Virginia. Spence Crossing will be a signature development in the city of Virginia Beach on one of the last large zoned tracts of land in this established retail and residential trade area.

The population density and daytime population surrounding Spence Crossing are very strong and traffi c drivers include many large regional employers, recreation and entertainment venues.

ADDRESS: Signalized intersection of S. Independence Boulevard and Princess Anne Road, Virginia Beach, VA 23453

SITE SIZE: ±13 acres: retail ±120 acres: residential

INGRESS/EGRESS: Signalized access on S. Independence Boulevard. Right in access on Princess Anne Road.

AVAILABILITY: Small shop space, and outparcels available for lease

ZONING: Conditional B-4 (Mixed Use District)

TRAFFIC COUNTS (2016/2017): 42,859 VPD - Princess Anne Road at S. Independence Boulevard 24,518 VPD - S. Independence Boulevard at Princess Anne Road 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road

SPENCE CROSSINGRESIDENTIAL DEVELOPMENT: • 160 Villas • 160 Luxury Villas • 138 Three Story Townhouses • 184 Single Family Homes • 288 Apartments

Spence Crossing RS PKG.indd 2 9/18/2017 2:27:14 PM

Page 3: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

2017 ESTIMATED DEMOS 1-Mile 3-Miles 5-Miles

POPULATION 18,957 124,743 244,048

AVERAGE HOUSEHOLD INCOME $68,756 $80,874 $81,533

DAYTIME POPULATION 15,329 88,305 226,303

EXECUTIVE SUMMARY

AREA INFORMATION: The Princess Anne retail submarket contains approximately 1,724,500 sq. ft. of retail space and very low historic retail vacancy rate.

Neighboring retailers include Target, Walmart, Home Depot, Best Buy, Ross, Kohl’s, Bed Bath & Beyond, Offi ceMax, Farm Fresh, Harris Teeter, Marshalls, Petco, PetSmart, AC Moore, Books a Million and many more.

• To the northeast is the region’s #1 mall, Lynnhaven Mall, and Oceana Naval Air Station

• To the south are the highly desirable, high end neighborhoods of southern Virginia Beach • To the southeast is the new, Sentara Princess Anne Hospital, Tidewater

Community College, Virginia Beach Higher Education Center, Virginia Beach Courthouse and Municipal Center, Farm Bureau/Virginia Beach Amphitheatre, the Hampton Roads Soccer Complex, Virginia Beach Sportsplex and Landstown Commons. • To the west is Regent University and the very densely populated Kempsville section of Virginia Beach.

Spence Crossing RS PKG.indd 3 9/18/2017 2:27:14 PM

Page 4: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

SITE PLAN

SOU

TH IN

DEP

END

ENC

E BO

ULE

VARD

PRINCESS ANNE ROAD

Spence Crossing RS PKG.indd 4

9/18/2017 2:27:15 PM

Page 5: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

SITE PLAN

EXISTINGSIGNAL

Outparcel 7 3.1 ac.±

Outparcel 13.4 ac.±

Outparcel 21.6 ac.±

Outparcel 31.3 ac.± Outparcel 4

1.6 ac.±

1.2 ac.± ACCESS DRIVEwithin shopping center parcel

0.75 ac.± RESIDUAL COMMERCIAL LAND

Outparcel 63.9 ac.±

Stormwater Pond

CO

NC

EPT

PLA

N

CONCEPT N

SPEN

CE

CR

OSS

ING

RET

AIL

CEN

TER

ResidentialVICINITY MAP

Outparcel 52.2 ac.±

Proposed Lease Line

CONCEPTUAL SITE PLAN:

ALL PROPERTY OTHER THAN "GROCERY ANCHOR" PARCEL IS SUBJECT TO CHANGE OF USE ORCONFIGURATION AT SOLE DISCRETION OF PROPERTY OWNER.

THIS SITE PLAN, BEING PRELIMINARY IN NATURE DOES NOT GUARANTEE THAT ALL REQUIREMENTSFOR ZONING ISSUES, NOR STORM DRAINAGE, GRADING, UTILITY EASEMENTS, AND THE LIKE AREPROPERLY ADDRESSED AT THIS TIME. THE ABOVE REQUIREMENTS CAN AFFECT THE LAYOUT OF THISSITE.

PARKING FIELDS AND RATIOS ARE PRELIMINARY.

ALL REQUIREMENTS ASSUMED WITH THIS LAYOUT ARE TENTATIVE AND SUBJECT TO CHANGE AS MAYBE DIRECTED BY THE ARCHITECT, LANDLORD, OR ANY OF THE GOVERNMENTAL AGENCIES. KHA HASDONE THE BEST WE CAN GIVEN THE PRELIMINARY NATURE OF THIS WORK. ONLY AFTER HAVING ATHROUGH ALTA AND TOPOGRAPHIC SURVEY AND GONE THROUGH THE REQUISITE REVIEW PROCESSESCAN MORE ASSURANCE BE GIVEN THESE PLANS AS RELATES TO MOVING FORWARD.

©

Ring Road

RingRoad

R E S I D E N T I A L

Spence Crossing RS PKG.indd 5

9/18/2017 2:27:15 PM

Page 6: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

AERIAL VIEWS

Spence Crossing RS PKG.indd 6

9/18/2017 2:27:17 PM

Page 7: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

AERIAL VIEWS

Spence Crossing RS PKG.indd 7

9/18/2017 2:27:18 PM

Page 8: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

AERIAL VIEWS

Site

Spence Crossing RS PKG.indd 8

9/18/2017 2:27:18 PM

Page 9: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

AERIAL VIEWS

Site

Spence Crossing RS PKG.indd 9

9/18/2017 2:27:20 PM

Page 10: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

AERIAL VIEWS

Site

Spence Crossing RS PKG.indd 10

9/18/2017 2:27:21 PM

Page 11: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

MAP

Site

Spence Crossing RS PKG.indd 11

9/18/2017 2:27:22 PM

Page 12: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

REGIONAL MAP

Site

Spence Crossing RS PKG.indd 12

9/18/2017 2:27:23 PM

Page 13: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

LOCAL MAP

Site

Spence Crossing RS PKG.indd 13

9/18/2017 2:27:23 PM

Page 14: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

PRINCESS ANNE ROAD TRAFFIC GENERATORSArea Traffic Generators Notes/Statistics

Courthouse Estates ~15 villages~Over 1,100 single family homes

Salem High School ~1,931 annual enrollment

Green Run High School ~1,800 annual enrollment

Landstown High School ~2,282 annual enrollment

Landstown Middle School ~1,600 annual enrollment

Landstown Elementary School ~836 annual enrollment

Tidewater Community College ~20,000 annual enrollment at the Virginia beach campus (largest TCC campus)

Virginia Beach Higher Education Center ~10,000 annual enrolment ODU Credit Courses~(Waiting on figure) annual enrollment NSU Credit Courses ~600 annual enrollment TCC Credit Courses ~3,000 annual enrollment for all non-credit operators ~Meeting & Training facilities or business, government, and community services – special events

Verizon Wireless VB Amphitheater ~237,041 attendees in 2010

Virginia Beach Municipal Center Complex ~6,000 employees

LifeNet Health ~503 employees

Sentara Princess Anne Hospital ~160 inpatient acute bed hospital opened 2011

Virginia Beach Sportsplex ~Multi-sport/multi-use facility featuring stadium and fields for games, camps and training ~Sports include football, rugby, field hockey, lacrosse, soccer and cycling

Virginia Beach Field House ~ A multi-sport indoor complex serving thousands annually

Hampton Roads Soccer Complex ~This is a 75 acre, 21 field soccer complex that sees over 7,500 soccer matches each year ~In attendance are 60,000 out-of-town visitors and 15,000 local residents and players

Oceana Naval Air Station ~This base contains 5,916 acres, 250 aircraft and has a community of 20,000 people, making it the largest employer in Virginia Beach

Spence Crossing RS PKG.indd 14

9/18/2017 2:27:24 PM

Page 15: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

SUBMARKET HIGHLIGHTS

OPERATION SMILE: An international non-profi t charity that provides reconstructive surgery for children with facial deformities is constructing a $20 million dollar global headquarters within the Princess Anne corridor (1.2 miles from Spence Crossing). The building will be 72,300 square feet and will employ 95 people.

LIFENET: A regenerative medicine company and the largest organ and tissue bank in the United States is constructing a 42,000 square foot renovation to their corporate headquarters (located 1.3 miles from Spence Crossing).

SENTARA: In 2011, Sentara opened the third hospital on the Princess Anne medical site (located 1.2 miles from Spence Crossing). The total cost of construction for the 160 bed facility was $180 million. All Virginia Beach labor and delivery services take place in the facility.

VB JOINT USE LIBRARY: Tidewater Community College and the City of Virginia Beach are partnering together to construct a joint use library which will serve TCC students as well as the residents of Virginia Beach (located 0.45 miles from Spence Crossing). The library will be approximately 120,000 square feet and is slated for completion during the spring of 2013. In total, it is a $53 million investment.

PRINCESS ANNE ROAD AND NIMMO PARKWAY EXPANSIONS AND CONNECTIONS: The Virginia Department of Transportation is currently underway with a $120 million road expansion/connection plan, which will ultimately result in a four lane, divided highway connection of Princess Anne Road and Nimmo Parkway, from Dam Neck Road to General Booth Boulevard. This will create a direct four and six lane connection from the Red Mill section of the City to Spence Crossing and will increase traffi c levels on Princess Anne Road. Construction is expected to be completed in 2015.

LYNNHAVEN PARKWAY CONNECTION: The Virginia Department of Transportation will begin construction next year on a road expansion/connection plan, which will improve and connect Lynnhaven Parkway from Indian River Road to Centerville Turnpike. This will create a four lane connection between central Virginia Beach and the Greenbrier section of Chesapeake. It will allow for direct access from Greenbrier to our site. Construction is expected to be completed in 2016.

YMCA: The YMCA is scheduled to begin construction by the end of 2012 on a recreational facility with a 25 meter indoor pool and outdoor recreational pool. A 50 meter indoor competition pool is also proposed on the site. The competition pool facility will be run in partnership with the YMCA and Tide Swim Team.

Spence Crossing RS PKG.indd 15 9/18/2017 2:27:24 PM

Page 16: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

F O R M O R E I N F O R M A T I O N : Ron Kuhlman Virginia Beach Convention & Visitors Bureau | 757.385.4700| [email protected] Danya Bushéy BCF | 757.497.4811 | [email protected]

2012 Virginia Beach Fact Sheet Destination Overview

As the state’s largest city with nearly 450,000 residents, Virginia Beach invites visitors to “Live the Beach Life” like the locals do. Offering the classic beach vacation, Virginia Beach maintains a long-standing reputation as a family-friendly oceanfront resort with a mild climate year-round. Visitors are greeted by a 300-foot wide beach lined by Virginia Beach’s renowned three-mile paved oceanfront Boardwalk. After spending lazy days on the beach, the state parks and national wildlife refuge beckon, enticing visitors to embark on hiking, kayaking, and biking adventures. Fishing, golfing, whale- and dolphin-watching boat tours, historic landmarks, the Virginia Aquarium and exciting events complete the famed resort city’s vacation experience. Unique coastal cuisine

comprised of fresh seafood and locally harvested produce makes for mouthwatering meals while a variety of seaside lodging options with spectacular views let you rest easy at night. Virginia Beach Convention & Visitors Bureau and the Virginia Beach Convention CenterThe resort city is one of the nation’s premier year-round leisure and meeting destinations. The Virginia Beach Convention & Visitors Bureau (CVB) is a city department that plans and implements marketing strategies to attract domestic and international consumer travelers, conventions, meetings and sporting events, as well as small, medium and large size motorcoach groups. The Virginia Beach Convention Center, boasting more than 500,000 sq. ft. of flexible space, is the first convention center in the country to achieve LEED® Gold certification for Existing Buildings. This achievement also signifies the facility as the Commonwealth of Virginia’s largest building to achieve the LEED® Gold certified project for Existing Buildings. The LEED (Leadership in Energy and Environmental Design) Green Building Rating System is the nationally accepted benchmark for the design, construction, and operation of high performance green buildings, which was developed by the U.S. Green Building Council (USGBC). As a destination marketing organization, the Virginia Beach Convention & Visitors Bureau (CVB) manages the Convention Center which hosts regional and national trade shows, conventions, sports tournaments and special events, and sponsors some of the city's major festivals and special events.

Spence Crossing RS PKG.indd 16 9/18/2017 2:27:25 PM

Page 17: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

Ocean and Bay Beaches

Virginia Beach boasts 35 miles of waterfront property, with a total of 14 miles of beach that are free and open to the public. In the Virginia Beach resort area from 1st to 40th Streets, beautifully-landscaped pedestrian beach entrances are easy to find, and parking is ample. If you seek a more relaxed day at the beach, visit Chesapeake Beach (known to the locals as “Chick’s Beach”) for its tranquility along the scenic Chesapeake Bay. Swimmers will enjoy the bay's protected shallow, calm waters. For a secluded environment, the Sandbridge area on Virginia Beach's southern shore is quiet and just 20 minutes from the main resort area. Without hotels, only breathtaking ocean-

view rental homes, condominiums and peacefulness fill the pristine Sandbridge neighborhood. Sand sweeps from the shore to the streets where traffic is minimal and seagulls leave long-lasting footprints.

Parks & National Wildlife Refuge With more than 18,600 acres of nature in two state parks and a national wildlife refuge, certain areas in Virginia Beach look almost identical to what the English settlers viewed when they first landed in North America. First Landing State Park, the most visited state park in Virginia, contains 2,700 acres of protected salt marsh habitat, bay and dune maritime forests and freshwater ponds. A registered Natural Landmark, it fronts the Chesapeake Bay. Back Bay National Wildlife Refuge, an 8,500-acre plot is made up of barrier islands, dunes, freshwater marshes, maritime forests, ponds and ocean beaches. Sharing a border is the 4,321-acre False Cape State Park, featuring six miles of unspoiled beaches in an ocean-to-freshwater bay habitat. Both Back Bay and False Cape are home to wild horses, feral pigs, loggerhead turtles, American bald eagles and a large variety of migratory birds and endangered species. All three nature areas offer numerous opportunities for exercise and adventure with a mix of hiking and biking trails and waterways perfect for kayaking and canoeing.

Accessibility More than 94% of Virginia Beach’s visitors arrive by auto. When approaching from the west, the easiest routes are Interstate 64, U.S. Route 460 or U.S. Route 58. From the north and south, convenient routes are Interstates 85 or 95, U.S. Route 17 and U.S. Route 13 (crossing the world-famous 17-mile Chesapeake Bay Bridge-Tunnel, connecting Virginia’s Eastern Shore with Virginia Beach). These options intersect with Interstate 64, which connects with Interstate 264, leading directly to the Virginia Beach oceanfront. An Amtrak train connection is available in Newport News, with continued bus service to Norfolk and Virginia Beach. Greyhound and Trailways Bus Lines also operate in the area. With mile-marker zero in neighboring Portsmouth, recreational boaters can follow the Intracoastal Waterway into the area from as far north as Boston, as far south as Key West and as far southwest as Brownsville, Texas.

Spence Crossing RS PKG.indd 17 9/18/2017 2:27:25 PM

Page 18: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

Oceanfront Boardwalk The Virginia Beach boardwalk dates back to 1888, and has been ranked among the “best American boardwalks” by Discovery Channel, “Dr. Beach,” Southern Living, Coastal Living and Travel+Leisure. The paved thoroughfare is an impressive 28 feet wide and three miles long with a separate bike path, making it ideal for strolling, rollerblading and biking. Entertainment is offered nightly during the summer months and four oceanfront stages at 7th, 17th, 24th and 31st Streets provide free live musical acts. For handicapped accessibility, ramps from the boardwalk to the beach are available at every block while 8-foot wooden walkways span the beach from the boardwalk to the water’s edge at 8th, 17th, 24th and 30th Streets, perfect for visitors who may have trouble maneuvering through the sand. The new JT’s Grommet Island Beach Park & Playground for EveryBODY is located right off the boardwalk at 2nd Street and is the first 100% disability-accessible beach playground in the country. Public restrooms are located at 2nd, 17th, 24th and 30th Streets.

Dining Enjoy the taste of Virginia Beach’s unique coastal cuisine as you savor mouthwatering combinations of

freshly caught seafood, local, sustainably raised pork, chicken and turkey, and homegrown fruits, vegetables and herbs. Agriculture is one of the top three industries in Virginia Beach, with miles of green space in the southern end of the city harvesting a long list of produce including strawberries, blueberries, blackberries, peaches, kiwis, apples, pears, cantaloupes, tomatoes, corn, beets, onions, broccoli, cabbage, white and sweet potatoes, green beans, eggplant, peppers, a variety of squash and leafy greens and more. Fresh catches include Chesapeake Bay blue crabs, shrimp, scallops, oysters, clams and a large number of fish such as striped bass (also known as “rockfish”), tuna, tautog, mahi-mah, flounder, trout and drum. With all this goodness, local chefs are tantalizing taste buds

with unique pairings in nearly 300 restaurants across the city. Local favorites include Chesapeake Bay crab cakes, she-crab soup, raw oysters and Oysters Rockefeller, rockfish prepared in an infinite number of ways, BBQ and all types of strawberry-based desserts. Virginia Beach also celebrates a diverse spectrum of cultures through its dining offerings, with choices ranging from Chinese, Japanese, Vietnamese and Thai to Italian, Mexican, Cuban, Greek and Indian. Arts & Culture Each year, more than 400 artists travel to Virginia Beach for one of the nation's most prestigious events, the Boardwalk Art Show and Festival, ranked as one of the Top 15 fine art shows in the U.S. by Sunshine Artist Magazine. The Virginia Museum of Contemporary Art’s (MOCA) changing exhibits feature painting, sculpture, photography, glass, video and other visual media from internationally-acclaimed artists as well as artists of national and regional renown. Additionally, visitors can experience opera, dance and musical performances at venues throughout the region, including the city’s jewel, the Sandler Center for the Performing Arts. The Town Center of Virginia Beach hosts an annual art and wine festival every May, and additionally features the First Fridays ArtWalk series on the first Friday of the month, May – October. Each spring, Virginia Beach also participates as a regional venue in the annual Virginia Arts Festival, which brings some of the world’s finest performers of classical music, dance, theater, world beat and more to the Hampton Roads region.

Spence Crossing RS PKG.indd 18 9/18/2017 2:27:26 PM

Page 19: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

Shopping Virginia Beach’s new downtown area, The Town Center, is located ten miles from the oceanfront, spans 17 city blocks and features outdoor cafes, restaurants, upscale retail and nightlife, along with business-class and deluxe hotels. Stores are a mix of national chains such as Brooks Brothers and Ann Taylor Loft, alongside small local clothing and gift boutiques. Virginia Beach also is home to Lynnhaven Mall and the Hilltop Shopping area. Lynnhaven Mall is 10-minute drive from the oceanfront and the largest shopping center in the area. Anchors include Macy’s, Dillard’s and JCPenney, while smaller national stores such as Banana Republic, Gap, The Limited, Buckle, NineWest,

H&M, Hollister, Vans, Barnes & Noble, Brookstone and Dick’s Sporting Goods round out the mix. Approximately five minutes from the oceanfront, the Hilltop area features several shopping centers with stores such as Trader Joe’s, Williams-Sonoma, Talbots, Apricot Lane, Blue Ridge Mountain Sports and a number of independently owned boutiques and shops. Along Atlantic Avenue, visitors will find a variety of shops selling everything from souvenirs to saltwater taffy.

Entertainment Throughout the year, Virginia Beach pulsates with cultural celebrations, live music performances and diverse festivals, bringing the sights, sounds and flavors of the world to the oceanfront. During the summer months, Beach Street USA provides free nightly family entertainment from the boardwalk to Atlantic Avenue. Roaming jugglers, musical acts, clowns and other performers add a festival flavor. Farm Bureau Live at Virginia Beach, the city’s premier amphitheater with a seating capacity of 20,000, showcases such national recording artists as Dave Matthews, Elton John, Sheryl Crow and Aerosmith. The Sandler Center for the Performing Arts is a 1,300-seat performance venue featuring an exquisite grand lobby and outdoor performance plaza. The venue provides a cultural centerpiece to the city, hosting regional and national artists in dance, music and theater including Tony Bennett, Bonnie Raitt, Itzhak Perlman and the Vienna Boys Choir. For the night owl, clubs and bars in Virginia Beach offer everything from live local bands, Top 40 and jazz to country, comedy and beach music. Military Installations At the jet observation park, located on Oceana Boulevard at the POW/MIA Flame of Hope Memorial Park, visitors can watch the Navy's most sophisticated aircraft take off and land at Oceana Naval Air Station. It is one of only two master jet bases and is host to the F/A-18 Hornet aircraft. On October 1, 2009, the Joint Expeditionary Base Little Creek - Fort Story was established as the first joint base in Hampton Roads. It is the country’s leading installation for housing and training the nation’s Expeditionary Forces. One command with two locations, JEB Little Creek – Fort Story is comprised of the former Naval Amphibious Base Little Creek and Army Post Fort Story. Fort Story was originally established in 1917 as a coastal artillery post. Its history, however, dates to 1607 when America's first English settlers touched shore there before continuing on to Jamestown. Its oceanfront location, two historic lighthouses, First Landing Cross and Battle Off the Capes Monument make it a popular stop for visitors. Little Creek’s beginnings date back to World War II as a training ground for amphibious forces.

Spence Crossing RS PKG.indd 19 9/18/2017 2:27:26 PM

Page 20: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

Fleet Combat Training Center, Atlantic, Dam Neck provides training in the operation and employment of combat direction and control systems; and the State Military Reservation, also called Camp Pendleton, which is traditionally allocated primarily for the use of the Virginia National Guard. Note: Access to military bases may be restricted for public tours and a valid picture ID as well as a vehicle search is required.

Lodging Virginia Beach is an accommodating destination, with more than 12,000 hotel rooms, more than 1,800 campsites and several hundred rental vacation homes — most offering ocean- or bay-front vistas. Visitors can choose from a variety of well-known establishments at the oceanfront including Marriott, Fairfield Inn & Suites, Hampton Inn, Holiday Inn, Ramada and Hilton. Accommodations are conveniently located close to the beach and major attractions, and 3,500 rooms are located within 2.5 miles of the Virginia Beach Convention Center. In the Chick’s Beach area, the Virginia Beach Resort Hotel and Conference Center offers spacious accommodations, great dining as well as meeting and conference space, overlooks the Chesapeake Bay and is located near First Landing State Park. Located at Town Center, the Hilton Garden Inn and Westin Virginia Beach Town Center are ideal for both business and leisure travelers, offering easy access to 17 blocks of shopping, dining and nightly entertainment. Rental homes located both in Sandbridge and in Virginia Beach’s north end are ideal for family gatherings and can accommodate groups of five to 30. For those who prefer quaint quarters, Virginia Beach is home to several bed and breakfast inns, including the Beach Spa Bed and Breakfast, Church Point Manor and Country Villa Bed and Breakfast, located in Virginia Beach’s Pungo region.

Awards Throughout the years, Virginia Beach has continued to receive numerous accolades. The city recently ranked second in TripAdvisor’s “Travelers’ Choice Family Awards” for “Great U.S. Destinations to Discover,” placed within Men’s Health’s “2011 10 Best Cities for Men” and was named among the “10 Best Cities in America” by Businessweek. In 2010, Virginia Beach was included in Travel + Leisure’s list of top 10 boardwalks, was listed as #9 for Best Beach Destinations in Southern Living’s Readers’ Choice Awards and TripAdvisor ranked it #12 for Best Family-Friendly Vacations. In 2009, ForbesTraveler.com listed Virginia Beach in the 10 Top American Boardwalks.

Virginia Beach also has received high honors as a convention destination. In 2011, the resort city received the Smart Meetings “Platinum Choice Award,” along with a “Gold Service Award” from Meetings & Conventions magazine for the tenth year running. In 2010, Virginia Beach garnered an “Award of Excellence for Outstanding Services to the Meetings and Incentive Travel Industry” from Corporate & Incentive Travel magazine and the “Distinctive Achievement Award for Outstanding Service to Association Meeting and Convention Planners” from Association Conventions & Facilities magazine. In 2009, SportsEvents magazine named Virginia Beach in their list of “Places to Watch.” Tourism and Visitor Profile Tourism is the largest economic industry for Virginia Beach. Approximately 5.5 million people visit overnight in Virginia Beach annually, spending $1.13 billion. Typically, the Virginia Beach summer visitor (May through September) is between 35 and 54 years old, married with children. Over a third of these visitors earns an average household income of more $100,000 and spend, on average, over $2,000 during their visit. A large majority of visitors arrive from the mid-Atlantic region. The city’s top states of visitor origin in descending order are: Virginia, Pennsylvania, Ohio, Maryland, and New York. The Washington D.C. metropolitan area is the top DMA for total visitation, bringing 16.8% of visitors.

Spence Crossing RS PKG.indd 20 9/18/2017 2:27:26 PM

Page 21: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

Business Summary ReportS Independence Blvd at Princess Anne Rd, Virginia Beach, VA 23456

1 Miles: 36.789094, -76.112561......April 16, 2012

S Independence Blvd at Princess Anne Rd, Virginia Beach, VA 23456

2010 Business Summary 2010 Employees By Occupation Count %

Total Employees 151,038 "White Collar" Employees 94,629 63.1%

Total Establishments 11,353 Administrative Support Workers 26,579 17.7%

Average Employee Size 13 Executive Managers & Administrators 19,335 12.9%

Professional Specialty Occupations 23,456 15.7%

Sales Professionals 4,762 3.2%

Sales Workers & Clerks 15,725 10.5%

Technical Sales & Administrative 163 0.1%

2010 Establishments by Employee Size Count % Technologies & Technicians 4,610 3.1%

1-4 Employees 6,573 57.9%

5-9 Employees 2,084 18.4% "Blue Collar" Employees 55,231 36.9%

10-19 Employees 1,301 11.5% Construction, Repair & Mining 4,932 3.3%

20-49 Employees 831 7.3% Farming, Forestry & Fishing 4,028 2.7%

50-99 Employees 317 2.8% Handlers, Helpers & Laborers 4,030 2.7%

100-249 Employees 178 1.6% Machine Operators, Assemblers & Inspectors 2,669 1.8%

250-499 Employees 41 0.4% Other Services Field Based 643 0.4%

500-999 Employees 21 0.2% Other Services Site Based 19,639 13.1%

1,000+ Employees 8 0.1% Precision Craft & Repair 12,913 8.6%

Private Household Service 3 0.0%

Protective Services 2,074 1.4%

Transportation & Materials Moving Workers 4,300 2.9%

2010 Major Industry Employees % Establishments % Avg Size

Agricultural, Foresdry, Fishing (SIC 01-09) 1,015 0.7% 217 1.9% 4

Construction (SIC 15-17) 9,613 6.4% 1,036 9.1% 9

Finance, Insurance & Real Estate (SIC 60-69) 16,416 10.9% 1,275 11.2% 11

Manufacturing (SIC 20-39) 6,055 4.0% 231 2.0% 15

Mining (SIC 10-14) 12 0.0% 5 0.0% 0

Public Adminisdration (SIC 90-98) 6,339 4.2% 171 1.5% 16

Retail Trade (SIC 52-59) 40,135 26.6% 2,524 22.2% 14

Services (SIC 70-89) 61,265 40.6% 4,917 43.3% 12

Transportation & Communications (SIC 40-49) 3,077 2.0% 327 2.9% 7

Unclassified (SIC 99) 1,178 0.8% 273 2.4% 4

Wholesale Trade (SIC 50-51) 5,933 3.9% 378 3.3% 12

2010 Retail Trade (SIC 52-59) Employees % Emp Establishments % Estab Avg Size

Auto Dealers & Gas Stations 6,316 15.7% 225 8.9% 28

Bars 144 0.4% 12 0.5% 12

Building Materials Hardware & Garden 1,695 4.2% 120 4.8% 14

Catalog & Direct Sales 652 1.6% 50 2.0% 13

Clothing Stores 1,806 4.5% 223 8.8% 8

Convenience Stores 756 1.9% 77 3.0% 10

Spence Crossing RS PKG.indd 21 9/18/2017 2:27:27 PM

Page 22: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

DEMOGRAPHICS

Spence Crossing RS PKG.indd 22 9/18/2017 2:27:27 PM

Page 23: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

DEMOGRAPHICS

Spence Crossing RS PKG.indd 23 9/18/2017 2:27:28 PM

Page 24: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

DEMOGRAPHICS

Spence Crossing RS PKG.indd 24 9/18/2017 2:27:28 PM

Page 25: FOR LEASE Spence Crossing - LoopNet · 15,684 VPD - Salem Road at Lynnhaven Parkway 21,329 VPD - Lynnhaven Parkway at Princess Anne Road SPENCE CROSSING RESIDENTIAL DEVELOPMENT: •

Spence CrossingFOR LEASE

S. INDEPENDENCE BOULEVARD & PRINCESS ANNE ROAD | VIRGINIA BEACH | VA, 23453

DEMOGRAPHICS MAP

Spence Crossing RS PKG.indd 25 9/18/2017 2:27:29 PM