Crossways I & II1434 Crossways Boulevard
Chesapeake, VA 23320
Crossways I & II, a 213,955 SF Class-A office building situated on ±20.08 acres located in the exclusive Greenbrier submarket of the Norfolk, Virginia MSA, (“Hampton Roads”). Originally developed in 1999 and expanded in 2002 the Property is 100% leased with over 1,300 parking spaces (6.34 per 1,000 SF), well above the market average parking ratio. The unique layout of the two-story building lends itself to the current tenant mix, which is anchored by Conduent Business Services, LLC (NASDAQ: CNDT) – a multi-industry international business service provider that specializes in healthcare and human resources solutions. Over 50% of the GLA is occupied by Conduent, which just executed a five year extension through December 2026. The remaining space is occupied by a diverse tenant mix covering the insurance, education, and finance industries.
The Property is strategically positioned directly next to I-64, the main arterial roadway in Chesapeake, VA which is a centrally located submarket within the MSA. Hampton Roads is home to 15 military bases, the sixth largest port in the United States, and over $100B+ in gross regional product, giving the Property an unparalleled advantage for tenants with business ties to both large corporations and government entities. With a Class-A inventory of approximately 1.8 MSF, the Greenbrier submarket continues to be a highly desirable location with limited inventory for large corporations. The high desirability of the submarket is captured in a sublet vacancy rate of 0.5%, which demonstrates the desire of tenants to immediately fill space as it becomes available. Notable users in the Greenbrier submarket include Amazon, General Dynamics, Cannon, FedEx, BAE Systems in addition to the corporate headquarters for Dollar Tree.