Overview
Avison Young’s U.S. Capital Markets Group, as the exclusive advisor to the owner Construction Managers, Inc., (“Owner”) is pleased to offer the opportunity to purchase the Western Branch - Veterans Administration Community Based Outpatient Clinic (“CBOC”) (the “Property”) located at 4300 Portsmouth Boulevard, Chesapeake, VA.
The Property is scheduled to be delivered at the end of October 2025 and will be 100% leased and occupied by the U.S. Department of Veterans Affairs. Upon completion, the Property will be a vital CBOC serving the significant Veteran community located in and around western Chesapeake, VA, and will supplement the already heavily used CBOCs located elsewhere in the greater Hampton Roads area.
The design of Property was modified by the VA which makes it a unique CBOC with two-drive through pharmacy windows and a secured drug vault in order to store the controlled prescription medicine.
The Property will provide the full suite of Veteran healthcare services on-site, from mental health and civilian transition support to toxic exposure screening and women’s care, along with an extensive range of other critical care services, and Pact ACT services.
Investment 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 real estate tax expenses flowing directly to the tenant
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
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