CAMPOSTELLA CROSSING 3 biens | Local commercial | Chesapeake, VA

Campostella Crossing presents a compelling value-add investment opportunity in Chesapeake, Virginia, within the Hampton Roads MSA. This 52,095 SF retail center spans 5.74 acres and is strategically located along Campostella Road, offering 800 feet of frontage and direct exposure to over 12,000 vehicles per day. The property benefits from a diverse tenant mix anchored by Family Dollar, complemented by local service, restaurant, and day-care tenants. With current occupancy at 83% and rents well below market averages, the center offers significant upside through lease-up, rent adjustments, and potential redevelopment.
The property’s B-1 zoning and adjacency to approximately 10 acres of undeveloped land owned by the Chesapeake Economic Development Authority create multiple redevelopment paths, including phased repositioning or alternative uses. Recent capital improvements include roof replacement, canopy repairs, HVAC upgrades, and parking lot resurfacing, reducing near-term capital requirements for investors. The surrounding South Norfolk submarket is experiencing revitalization, supported by municipal investment and strategic development plans, making this an ideal time to capitalize on growth trends.
Hampton Roads is the second-largest metro area in Virginia, home to major military installations, the Port of Virginia, and a highly skilled workforce. The region’s strong fundamentals, combined with Campostella Crossing’s location and flexible design, position this asset for long-term value creation and income growth.