Virginia Beach, Virginia: A Premier Destination for Commercial Real Estate

Introduction

Virginia Beach, Virginia, stands as a robust market for commercial real estate (CRE), driven by a diverse economy and strategic coastal location. As the largest city in the state, Virginia Beach boasts a population of over 450,000 and serves as a nexus for industries including defense, tourism, and technology. Its unique positioning as a commercial hub makes it an attractive destination for CRE professionals seeking opportunities in office, industrial, and retail spaces.

Economic and Industry Overview

Virginia Beach's economy is underpinned by major industries such as defense, tourism, and emerging tech sectors. The presence of military bases, including NAS Oceana, contributes to a steady demand for office and industrial properties. Additionally, the city's focus on technology and innovation is evidenced by initiatives from the Virginia Beach Department of Economic Development, fostering growth in biotech and IT sectors.

Strategic Location and Transportation Infrastructure

Virginia Beach benefits from a strategic location with access to major transportation networks. Key highways, such as I-264 and I-64, facilitate easy access to neighboring cities and states. The city's proximity to the Port of Virginia enhances its appeal for logistics and distribution operations. Moreover, the Norfolk International Airport offers connectivity for business travelers and goods distribution.

Commercial Real Estate Inventory & Zoning

The city's CRE landscape is diverse, with notable submarkets like the Central Business District and industrial corridors along the I-64 corridor. Key asset classes include industrial, retail, and office spaces, with emerging developments in mixed-use and innovation districts. Virginia Beach's zoning regulations, available through the City's Zoning Map, provide insights into potential development incentives and overlays.

Major Employers and Institutions

Virginia Beach is home to significant employers such as Sentara Healthcare, Amerigroup, and the Virginia Beach City Public Schools. The presence of notable institutions like Virginia Wesleyan University contributes to the demand for commercial properties. For a comprehensive list of top employers, visit the Virginia Beach Economic Development Directory.

Notable Commercial Developments & Projects

The city features several large-scale developments, including the Town Center of Virginia Beach, a mixed-use project combining retail, office, and residential spaces. Additionally, the designation of Opportunity Zones provides potential tax incentives for investors. Details on ongoing projects can be found via the Virginia Beach Planning Department.

Building Permits, Planning, and Development Tools

For developers and investors, the city's Building and Safety Department offers resources on permitting processes. Access the Permitting Portal for online applications, and explore the Parcel Map Viewer for property insights. The Development Code is available for zoning and planning regulations.

Market Data & Economic Reports

Public data sets such as census.gov and the city's Open Data Portal provide valuable insights into economic trends. Brevitas utilizes AI-powered aggregation of these data sources, enhancing your understanding of market dynamics. Explore Brevitas-powered dashboards for Virginia Beach to gain deeper insights into the city's CRE landscape.

Why Use Brevitas for Virginia Beach, Virginia CRE?

Brevitas offers unparalleled tools for CRE discovery in Virginia Beach. With AI-driven insights, real-time market alerts, and smart property pages, Brevitas enhances your ability to capitalize on opportunities. Unique features like auto-generated listing pages, email and landing page tools, and integration with brokers ensure maximum exposure and collaboration. Access exclusive listings and premium exposure with Brevitas, your trusted partner in Virginia Beach commercial real estate.