Retail Competitive Landscape
The Greenbrier area provides a lifestyle shopping and restaurant center
that is well occupied despite lacking significant new inventory.
Accordingly, residential development in the Greenbrier area is highly
desired. Greenbrier Mall, built in 1981 with close to 1 million square feet
of retail and a very low vacancy rate of 1.5%, is one example of a
center comprising 500,000 square feet of retail is the second largest
retail building in the area. Among well-performing, relatively newer retail
buildings surrounding the study area, non-anchor tenant rents average
approximately $15 and anchor tenant rents average $10.
strong retail amenity in the area. Greenbrier Market Center, a power
Select Retail Comparables
Chesapeake, VA; February 2014
MAP
KEY PROPERTY NAME
SIZE (SF)
YEAR
BUILT
NON-
ANCHOR
TENANT
ANCHOR
TENANT
VACANCY
RATE (%)
CENTER
TYPE
1 GREENBRIER MALL
898,416 1981
n/a
n/a
1.5% Regional
2 CROSSWAYS CENTER
153,111 1988
n/a
n/a
0.0% Power Center
3 GREENBRIER
MARKETCENTER
493,657 1996
n/a
n/a
0.0% Power Center
4 CHESAPEAKE CROSSING SC 287,679 1987 $14.00 $5.45
5.5% Community
5 WOODFORD SQUARE
139,623 1986 $15.91 $8.12
8.8% Community
6 GLENWOOD SQUARE
66,659
1986 $15.00 $11.39
4.3% Neighborhood
7 PARKVIEW/Greenbrier
80,831
1985 $13.92 $5.84
8.0% Neighborhood
8 DEEP CREEK PLAZA
16,000
1984 $12.07
n/a
0.0% Neighborhood
9 LIBERTY PLAZA
19,500
1983 $12.00
n/a
19.0% Neighborhood
10 ISLAND WHARF SHOPPES
15,000
1989
$9.95
n/a
0.0% Neighborhood
11 CEDAR LAKES CENTER
35,659
1987 $16.40 $12.69
7.9% Neighborhood
12 BATTLEFIELD SHOPPES
23,967
1986 $16.88
n/a
5.7% Neighborhood
13 LAS GAVIOTAS SHOPPING
CNTR
68,822
1986 $12.92 $9.16
6.1% Neighborhood
14 GREENBRIER STATION
21,633
1984 $17.00 $17.00
0.0% Neighborhood
15 THE CROSSING/DEEP
74 120
1989 $14 86 $7 78
0 0% Neighborhood
CREEK
,
.
.
.
16 GREENBRIER SOUTH
97,000
1992 $20.84 $11.99
7.9% Neighborhood
17 ORCHARD SQUARE
88,728
1989 $15.91 $9.92
5.2% Neighborhood
18 MILLWOOD PLAZA
16,969
1986 $13.00
n/a
10.0% Neighborhood
19 TOWNE PLACE AT
GREENBRIER
78,072
2007
n/a
n/a
13.0% Town Center
Total
2,675,446
Source: Google Earth; CoStar
Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40
42
Average
1988 $14.71 $9.93
5.4%
