Virgin Islands: A Premier Destination for Commercial Real Estate

Introduction

The Virgin Islands, known for its strategic location and robust economy, presents a compelling case for commercial real estate (CRE) investment. With a diverse economy driven by tourism, financial services, and manufacturing, the Virgin Islands offers unique opportunities for office, industrial, and retail property developments. Positioned as a gateway between the Americas and Europe, the Virgin Islands is a hub for businesses looking to capitalize on its advantageous geographic location.

Economic and Industry Overview

The economy of the Virgin Islands is largely supported by tourism, which drives demand for retail and hospitality properties. Additionally, the financial services sector is a significant contributor, creating a need for office spaces and corporate facilities. Manufacturing, particularly in areas like rum production and pharmaceuticals, fuels demand for industrial spaces. The Virgin Islands Economic Development Authority promotes initiatives to attract investors and support business growth, adding to the island’s CRE appeal.

Strategic Location and Transportation Infrastructure

The Virgin Islands benefits from its strategic position in the Caribbean, offering logistical advantages for businesses. The Cyril E. King Airport and Henry E. Rohlsen Airport provide vital air connectivity, while the Port of Charlotte Amalie and the Port of Frederiksted serve as major maritime hubs. These transportation networks facilitate easy distribution and access to international markets. For more information, visit the Virgin Islands Port Authority.

Commercial Real Estate Inventory & Zoning

The Virgin Islands boasts diverse CRE submarkets, including central business districts and coastal retail areas. Key asset classes in the region include industrial, retail, and office spaces. Recent zoning changes have introduced overlays that encourage mixed-use developments, offering developers incentives to invest. Explore the Virgin Islands Department of Planning and Natural Resources for zoning maps and parcel information.

Major Employers and Institutions

Significant employers in the Virgin Islands include the government, tourism sectors, and companies like Diageo USVI. The University of the Virgin Islands also plays a crucial role in the local economy, fostering a skilled workforce. For a detailed list of major employers, visit the Virgin Islands Economic Development Authority.

Notable Commercial Developments & Projects

The Virgin Islands is home to several large-scale development projects, such as mixed-use developments and public-private partnerships. These projects often take advantage of Opportunity Zones to stimulate economic growth. For details on ongoing developments, visit the Virgin Islands Planning Office.

Building Permits, Planning, and Development Tools

• Virgin Islands Building and Safety Department
• Online Permitting Portal
• Parcel Map Viewer
• Virgin Islands Planning Commission
• Development Code

Market Data & Economic Reports

Public data sets, such as those from census.gov and the Virgin Islands Open Data Portal, provide valuable insights into market trends. Brevitas uses AI-powered aggregation to enhance these insights, offering comprehensive dashboards tailored to the Virgin Islands. Explore the Brevitas platform for detailed market analysis.

Why Use Brevitas for Virgin Islands CRE?

Brevitas offers a unique platform for CRE discovery in the Virgin Islands, featuring AI-driven insights, real-time market alerts, and advanced dealroom collaboration. Our tools, such as auto-generated listing pages and integration with brokers and developers, provide exclusive listings and premium exposure. Brevitas is your partner in navigating the Virgin Islands CRE landscape.

For more information and to explore opportunities in the Virgin Islands, visit Brevitas.