Over the last 3 months we have brought to market in cooperation with our joint-venture partners two all-cash/debt-free commercial properties in Chesapeake, Virginia and made them available to our accredited clients as Delaware Statutory Trust (DST) 1031 exchange offerings via Regulation D, Rule 506c. Here are 10 reasons we like Chesapeake, VA for our DST 1031 exchange and direct investor clients:
- Chesapeake is the third largest city by population in the state of Virginia.
- Chesapeake is part of the 1.7-million-person Hampton Roads area of Virginia.
- Chesapeake was considered Hampton Roads’ fastest growing city over the past 5 years with a population of 238,000.
- Chesapeake is in close proximity to the world’s largest Naval base, Naval Station Norfolk, which supports 75 ships alongside 14 piers and 11 aircraft hangars.
- Chesapeake is in close proximity to the Port of Virginia, which is the sixth largest containerized cargo complex in the entire United States as well as the deepest water harbor on the US East Coast.
- Over 50 international companies call Chesapeake home.
- Chesapeake was ranked by SmartAsset as the #3 City Where Millennials are Buying Homes.
- Chesapeake was ranked #19 among the Best Cities for Quality of Life by NerdWallet.
- Chesapeake was ranked by the FBI as One of the safest cities in the United States.
- Solid commercial real estate fundamentals with very high occupancy rates across multiple commercial real estate asset classes: Industrial 95%, Retail 94.9%, Office 92.3%.
Sources: Wikipedia.org, Chesapeake Virginia 2016 Annual Report, http://www.hreda.com, Hampton Roads Economic Development Alliance, www.nerdwallet.com 2014, www.smartasset.com 2016, FBI National Uniform Crime Report 2008, http://finance.yahoo.com/news/fitch-affirms-chesapeake-vas-gos-193100903.html