Chubb Building 600 Independence Pky

Colliers Virginia is pleased to announce its exclusive sale representation of 600 Independence Parkway located in Chesapeake, Virginia. The 96,162 square foot Class A office building is 100% leased to a diverse tenant roster including professional services, defense, government, medical, and construction. All tenants are 100% current on their rent, have been in compliance with their leases during the
entire term and are actively using their space.
Chubb Insurance, a leading global financial services provider with investment grade credit, currently occupies 57% of the building and has been a tenant at the property since completion of construction in 1998. They fully utilize their space with employees reporting to the office on a daily basis. Chubb’s current term ends in July 2026. They are expected to renew given the building’s use as the tenant’s sole East Coast operations center. Other tenants in the building include Chesapeake Regional Medical Center, the Commonwealth of Virginia, and McHenry Management Group. Located in Battlefield Corporate Park, the property overlooks a lake, has high visibility from the outer connector between Interstates 64 and 464, and has a spacious attractive lobby and large, efficient floor plates. The 200-acre park has over 1.1 million square feet of Class A office product with major tenants including General Dynamics, Fulton Financial Corporation, Sentara Healthcare, Strayer University, and the U.S. Government. The park is also arguably the premier business location within the overall Greenbrier submarket which is the region’s largest office submarket with over 50,000 workers. Greenbrier boasts a deep amenity base including extensive restaurant, entertainment, and retail options including the Greenbrier Mall, Town Center, and Market Center.
The current owner has an existing loan that can be assumed as a part of the sale to avoid defeasance. With a maturity date of July 2026, the loan has an interest rate of approximately 4.5% and a balance of approximately $9,200,000. The loan does offer future prepayment ability as well should the purchaser wish to consider refinancing the asset in the future.