100% Leased to Department of Veterans Affairs

Western Branch VA Community Based Outpatient Clinic (CBOC)

4300 Portsmouth Boulevard | Chesapeake, VA

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Overview

Avison Young’s U.S. Capital Markets Group, as the exclusive advisor to Construction Managers, Inc., (“Owner”) is pleased to offer the opportunity to pre-purchase the Western Branch - Veterans Administration Community Based Outpatient Clinic (CBOC) (the “Property”) located at 4300 Portsmouth Boulevard, Chesapeake, VA.

The Property is currently under construction and will be 100% leased and occupied by the U.S. Department of Veterans Affairs. Upon completion, the Property will be a vital outpatient clinic serving the significant Veteran community located in and around western Chesapeake, VA, and will augment the already heavily used CBOCs located elsewhere in the greater Hampton Roads area.

The lease will begin upon the Veteran Administration’s acceptance of the completed space, which is estimated to occur in September of 2025. The Property will provide the full suite of Veteran healthcare services onsite, from mental health and civilian transition support to toxic exposure screening and women’s care, an extensive range of other critical care, and Pact ACT services.

Highlights

NEW CONSTRUCTION, ESSENTIAL CBOC FACILITY - Due to increased demand, the Property was developed at the request of the Department of Veteran Affairs to service the Western Chesapeake Region

LACK OF SITES - The current site was one of only a few that met the VA’s criteria

100% LEASED TO DEPT. OF VETERANS AFFAIRS - 10-year lease option upon construction completion

LONG-TERM INCOME SECURITY - The lease guarantees operating expense reimbursements throughout the term, with no cap on reimbursable real estate taxes
EXPERIENCED PROPERTY MANAGER - Opportunity to retain the developer CMI, a top-rated, experienced developer and property manager of VA facilities nationwide, to provide on-going property management and VA Contracting Officer connectivity

HIGH DENSITY VETERAN CONCENTRATION - The Greater Hampton Roads area’s veteran concentration is 2x higher than the national average; there are 177,100 Veterans living within 25 miles of the Property

EASE OF ACCESSIBILITY - Less than 1.5 miles from Interstate 64

Team

Joe French

Joe French

Vice President
413.834.3163