s. independence boulevard and princess anne road...

S. INDEPENDENCE BOULEVARD AND PRINCESS ANNE ROADVIRGINIA BEACH, VIRGINIA 23453

FOR LEASE

• Anchor boxes, outparcels and small shop space in Hampton Roads’ premier new retail development

• Located near military, municipal, educational, medical, entertainment and sports venues as well as other existing retail centers.

• Part of a major new mixed-use development by one of the region’s leading developers, The Dragas Companies.

FOR MORE INFORMAT ION:

Chris Read

Senior Vice President

757.228.1803

[email protected]

CBRE | Hampton Roads | 150 West Main Street | Suite 1100 | Norfolk, VA 23510 | www.cbre.com/norfolk

Ned Brooks

Senior Vice President

757.228.1829

[email protected]

Scott Adams

Regional President

757.228.1836

[email protected]

DEVELOPED BY:

© 2014 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Part of the CBRE affiliate network

:: EXECUTIVE SUMMARY

PROPERTY DESCRIPTION: Shoppes at Spence Crossing is a proposed 26 acre regional shopping center which is part of a 130 acre new mixed use project located in Virginia Beach, Virginia. Spence Crossing will be a signature development in the city of Virginia Beach on one of the last large zoned tracts of land in this established retail and residential trade area.

The population density and daytime population surrounding Spence Crossing are very strong and traffic drivers include many large regional employers, recreation and entertainment venues.

ADDRESS: Signalized intersection of S. Independence Boulevard and Princess Anne Road, Virginia Beach, VA 23453

SHOPPING CENTER SIZE: Approximately 220,000 sq. ft.

SITE SIZE: ±26 acres: retail ±107 acres: residential (includes a hotel site)

INGRESS/EGRESS: Signalized access on S. Independence Boulevard. Right in access on Princess Anne Road.

AVAILABILITY: Anchor boxes, small shop space, and outparcels available for lease

ZONING: Conditional B-4 (Mixed Use District)

TRAFFIC COUNTS (2012): 45,000 AAWDT: Princess Anne Road at S. Independence Boulevard 26,000 AAWDT: S. Independence Boulevard at Princess Anne Road 15,000 AAWDT: Salem Road at Lynnhaven Parkway

SPENCE CROSSINGRESIDENTIAL DEVELOPMENT: • 160 Villas • 160 Luxury Villas • 138 Three Story Townhouses • 184 Single Family Homes • 288 Apartments - Approximately 115 leased



AREA INFORMATION: The Princess Anne retail submarket contains approximately 1,724,500 sq. ft. of retail space and very low historic retail vacancy rate.

Neighboring retailers include Target, Walmart, Home Depot, Best Buy, Ross, Kohl’s, Bed Bath & Beyond, OfficeMax, Farm Fresh, Harris Teeter, Marshalls, Petco, PetSmart, AC Moore, Books a Million and many more.

• To the northeast is the region’s #1 mall, Lynnhaven Mall, and Oceana Naval Air Station

• To the south are the highly desirable, high end neighborhoods of southern Virginia Beach • To the southeast is the new, Sentara Princess Anne Hospital, Tidewater

Community College, Virginia Beach Higher Education Center, Virginia Beach Courthouse and Municipal Center, Farm Bureau/Virginia Beach Amphitheatre, the Hampton Roads Soccer Complex, Virginia Beach Sportsplex and Landstown Commons. • To the west is Regent University and the very densely populated Kempsville section of Virginia Beach.

Demographics (2014) 1-Mile 3-Miles 5-Miles

POPULATION 18,201 121,960 239,778

AVERAGE HOUSEHOLD INCOME $74,472 $81,549 $81,364

DAYTIME POPULATION 5,603 30,959 115,755

:: SITE PLAN

Tel: (757) 548-7300Fax: (757) 548-7301

Suite 300501 Independence ParkwayChesapeake, Virginia 23320

Spence CrossingConceptual Development Plan

Centerville District Virginia Beach, Virginia

PROPOSEDSIGNAL

EXISTINGSIGNAL

Retail Shops16,800 S.F.

ResidentialStormwater

Pond

2.9 ac.± COMMERCIAL SITESEE PARKING REQUIREMENTS FOR SHOPPING CENTERSBELOW CONCERNING RESTAURANT SPACE.

Jr. Anchor

Grocery

RESTAURANTPADS

Jr. AnchorJr. Anchor

Restaurant

Restaurant

Outparcel 53.0 ac.±

11.7 ac.± COMMERCIAL SITECOMMERCIAL PARCEL GROSS S.F. = 110,300PARKING = 560 SPACES±OVERALL PARKING RATIO =5.07 / 1,000 S.F.±CITY OF VIRGINIA BEACH PARKING REQUIREMENTS FORSHOPPING CENTERS INCLUDING OUTPARCEL1 ANDPOTENTIALLY THE REMAINING OUTPARCELS SHOULD THEYFALL INTO THE CLASSIFICATION OF SHOPPING CENTER.SHOPPING CENTERS CONTAINING AT LEAST ONE (1) ACRE OR MORE THAN FOUR(4) TENANTS: ONE SPACE PER TWO HUNDRED FIFTY (250) SQUARE FEET OFFLOOR AREA, PROVIDED THAT IN SHOPPING CENTERS WHERE RESTAURANTSWITH SEATING FOR FIFTY (50) OR MORE PATRONS COMPRISE FIFTY PERCENT(50%) OR MORE OF THE TOTAL FLOOR AREA, PARKING SHALL BE ONE (1) SPACEPER ONE HUNDRED (100) SQUARE FEET OF FLOOR AREA;





Residential

Restaurant


:: SITE PLAN


Tel: (757) 548-7300Fax: (757) 548-7301

Suite 300501 Independence ParkwayChesapeake, Virginia 23320

Spence CrossingConceptual Development Plan

Centerville District Virginia Beach, Virginia

:: AERIAL VIEW


EAST

:: AERIAL VIEW


NORTH

:: AERIAL VIEW


SOUTH

:: AERIAL VIEW


WEST

:: AERIAL VIEW


:: MAP VIEW

S I TE

V IRG IN IA


:: MAP VIEW

Copyright © 1988-2005 Microsoft Corp. and/or its suppliers. All rights reserved. http://www.microsoft.com/streets/© 2004 NAVTEQ. All rights reserved. This data includes information taken with permission from Canadian authorities © Her Majesty the Queen in Right of Canada. © Copyright 2004 by TeleAtlas North America, Inc. All rights reserved.

0 mi 10 20 30 40

S I TE

REG IONAL


:: MAP VIEW

Copyright © 1988-2005 Microsoft Corp. and/or its suppliers. All rights reserved. http://www.microsoft.com/streets/© 2004 NAVTEQ. All rights reserved. This data includes information taken with permission from Canadian authorities © Her Majesty the Queen in Right of Canada. © Copyright 2004 by TeleAtlas North America, Inc. All rights reserved.

0 mi 1 2 3

LOCAL

S ITE


:: PRINCESS ANNE ROAD TRAFFIC GENERATORS

Princess Anne Road Traffic Generators

Area Traffic Generators Notes/Statistics

Courthouse Estates ~15 villages~Over 1,100 single family homes

Salem High School ~1,931 annual enrollment

Green Run High School ~1,800 annual enrollment

Landstown High School ~2,282 annual enrollment

Landstown Middle School ~1,600 annual enrollment

Landstown Elementary School ~836 annual enrollment

Tidewater Community College ~20,000 annual enrollment at the Virginia beach campus (largest TCC campus)

Virginia Beach Higher Education Center ~10,000 annual enrolment ODU Credit Courses~(Waiting on figure) annual enrollment NSU Credit Courses ~600 annual enrollment TCC Credit Courses ~3,000 annual enrollment for all non-credit operators ~Meeting & Training facilities or business, government, and community services – special events

Verizon Wireless VB Amphitheater ~237,041 attendees in 2010

Virginia Beach Municipal Center Complex ~6,000 employees

LifeNet Health ~503 employees

Sentara Princess Anne Hospital ~160 inpatient acute bed hospital opened 2011

Virginia Beach Sportsplex ~Multi-sport/multi-use facility featuring stadium and fields for games, camps and training ~Sports include football, rugby, field hockey, lacrosse, soccer and cycling

Virginia Beach Field House ~ A multi-sport indoor complex serving thousands annually

Hampton Roads Soccer Complex ~This is a 75 acre, 21 field soccer complex that sees over 7,500 soccer matches each year ~In attendance are 60,000 out-of-town visitors and 15,000 local residents and players

Oceana Naval Air Station ~This base contains 5,916 acres, 250 aircraft and has a community of 20,000 people, making it the largest employer in Virginia Beach



:: SUBMARKET HIGHLIGHTS

Submarket Highlights

OPERATION SMILE: An international non-profit charity that provides reconstructive surgery for children with facial deformities is constructing a $20 million dollar global headquarters within the Princess Anne corridor (1.2 miles from Spence Crossing). The building will be 72,300 square feet and will employ 95 people.

LIFENET: A regenerative medicine company and the largest organ and tissue bank in the United States is constructing a 42,000 square foot renovation to their corporate headquarters (located 1.3 miles from Spence Crossing).

SENTARA: In 2011, Sentara opened the third hospital on the Princess Anne medical site (located 1.2 miles from Spence Crossing). The total cost of construction for the 160 bed facility was $180 million. All Virginia Beach labor and delivery services take place in the facility.

VB JOINT USE LIBRARY: Tidewater Community College and the City of Virginia Beach are partnering together to construct a joint use library which will serve TCC students as well as the residents of Virginia Beach (located 0.45 miles from Spence Crossing). The library will be approximately 120,000 square feet and is slated for completion during the spring of 2013. In total, it is a $53 million investment.

PRINCESS ANNE ROAD AND NIMMO PARKWAY EXPANSIONS AND CONNECTIONS: The Virginia Department of Transportation is currently underway with a $120 million road expansion/connection plan, which will ultimately result in a four lane, divided highway connection of Princess Anne Road and Nimmo Parkway, from Dam Neck Road to General Booth Boulevard. This will create a direct four and six lane connection from the Red Mill section of the City to Spence Crossing and will increase traffic levels on Princess Anne Road. Construction is expected to be completed in 2015.

LYNNHAVEN PARKWAY CONNECTION: The Virginia Department of Transportation will begin construction next year on a road expansion/connection plan, which will improve and connect Lynnhaven Parkway from Indian River Road to Centerville Turnpike. This will create a four lane connection between central Virginia Beach and the Greenbrier section of Chesapeake. It will allow for direct access from Greenbrier to our site. Construction is expected to be completed in 2016.

YMCA: The YMCA is scheduled to begin construction by the end of 2012 on a recreational facility with a 25 meter indoor pool and outdoor recreational pool. A 50 meter indoor competition pool is also proposed on the site. The competition pool facility will be run in partnership with the YMCA and Tide Swim Team.


:: VIRGINIA BEACH FACT SHEET

F O R M O R E I N F O R M A T I O N : Ron Kuhlman Virginia Beach Convention & Visitors Bureau | 757.385.4700| [email protected] Danya Bushéy BCF | 757.497.4811 | [email protected]

2012 Virginia Beach Fact Sheet Destination Overview

As the state’s largest city with nearly 450,000 residents, Virginia Beach invites visitors to “Live the Beach Life” like the locals do. Offering the classic beach vacation, Virginia Beach maintains a long-standing reputation as a family-friendly oceanfront resort with a mild climate year-round. Visitors are greeted by a 300-foot wide beach lined by Virginia Beach’s renowned three-mile paved oceanfront Boardwalk. After spending lazy days on the beach, the state parks and national wildlife refuge beckon, enticing visitors to embark on hiking, kayaking, and biking adventures. Fishing, golfing, whale- and dolphin-watching boat tours, historic landmarks, the Virginia Aquarium and exciting events complete the famed resort city’s vacation experience. Unique coastal cuisine

comprised of fresh seafood and locally harvested produce makes for mouthwatering meals while a variety of seaside lodging options with spectacular views let you rest easy at night. Virginia Beach Convention & Visitors Bureau and the Virginia Beach Convention CenterThe resort city is one of the nation’s premier year-round leisure and meeting destinations. The Virginia Beach Convention & Visitors Bureau (CVB) is a city department that plans and implements marketing strategies to attract domestic and international consumer travelers, conventions, meetings and sporting events, as well as small, medium and large size motorcoach groups. The Virginia Beach Convention Center, boasting more than 500,000 sq. ft. of flexible space, is the first convention center in the country to achieve LEED® Gold certification for Existing Buildings. This achievement also signifies the facility as the Commonwealth of Virginia’s largest building to achieve the LEED® Gold certified project for Existing Buildings. The LEED (Leadership in Energy and Environmental Design) Green Building Rating System is the nationally accepted benchmark for the design, construction, and operation of high performance green buildings, which was developed by the U.S. Green Building Council (USGBC). As a destination marketing organization, the Virginia Beach Convention & Visitors Bureau (CVB) manages the Convention Center which hosts regional and national trade shows, conventions, sports tournaments and special events, and sponsors some of the city's major festivals and special events.

—more—



Page 3 – Virginia Beach Fact Sheet

Ocean and Bay Beaches Virginia Beach boasts 35 miles of waterfront property, with a total of 14 miles of beach that are free and open to the public. In the Virginia Beach resort area from 1st to 40th Streets, beautifully-landscaped pedestrian beach entrances are easy to find, and parking is ample. If you seek a more relaxed day at the beach, visit Chesapeake Beach (known to the locals as “Chick’s Beach”) for its tranquility along the scenic Chesapeake Bay. Swimmers will enjoy the bay's protected shallow, calm waters. For a secluded environment, the Sandbridge area on Virginia Beach's southern shore is quiet and just 20 minutes from the main resort area. Without hotels, only breathtaking ocean-

view rental homes, condominiums and peacefulness fill the pristine Sandbridge neighborhood. Sand sweeps from the shore to the streets where traffic is minimal and seagulls leave long-lasting footprints.

Parks & National Wildlife Refuge With more than 18,600 acres of nature in two state parks and a national wildlife refuge, certain areas in Virginia Beach look almost identical to what the English settlers viewed when they first landed in North America. First Landing State Park, the most visited state park in Virginia, contains 2,700 acres of protected salt marsh habitat, bay and dune maritime forests and freshwater ponds. A registered Natural Landmark, it fronts the Chesapeake Bay. Back Bay National Wildlife Refuge, an 8,500-acre plot is made up of barrier islands, dunes, freshwater marshes, maritime forests, ponds and ocean beaches. Sharing a border is the 4,321-acre False Cape State Park, featuring six miles of unspoiled beaches in an ocean-to-freshwater bay habitat. Both Back Bay and False Cape are home to wild horses, feral pigs, loggerhead turtles, American bald eagles and a large variety of migratory birds and endangered species. All three nature areas offer numerous opportunities for exercise and adventure with a mix of hiking and biking trails and waterways perfect for kayaking and canoeing.

Accessibility More than 94% of Virginia Beach’s visitors arrive by auto. When approaching from the west, the easiest routes are Interstate 64, U.S. Route 460 or U.S. Route 58. From the north and south, convenient routes are Interstates 85 or 95, U.S. Route 17 and U.S. Route 13 (crossing the world-famous 17-mile Chesapeake Bay Bridge-Tunnel, connecting Virginia’s Eastern Shore with Virginia Beach). These options intersect with Interstate 64, which connects with Interstate 264, leading directly to the Virginia Beach oceanfront. An Amtrak train connection is available in Newport News, with continued bus service to Norfolk and Virginia Beach. Greyhound and Trailways Bus Lines also operate in the area. With mile-marker zero in neighboring Portsmouth, recreational boaters can follow the Intracoastal Waterway into the area from as far north as Boston, as far south as Key West and as far southwest as Brownsville, Texas.

—more—



Page 4 – Virginia Beach Fact Sheet

Oceanfront Boardwalk The Virginia Beach boardwalk dates back to 1888, and has been ranked among the “best American boardwalks” by Discovery Channel, “Dr. Beach,” Southern Living, Coastal Living and Travel+Leisure. The paved thoroughfare is an impressive 28 feet wide and three miles long with a separate bike path, making it ideal for strolling, rollerblading and biking. Entertainment is offered nightly during the summer months and four oceanfront stages at 7th, 17th, 24th and 31st Streets provide free live musical acts. For handicapped accessibility, ramps from the boardwalk to the beach are available at every block while 8-foot wooden walkways span the beach from the boardwalk to the water’s edge at 8th, 17th, 24th and 30th Streets, perfect for visitors who may have trouble maneuvering through the sand. The new JT’s Grommet Island Beach Park & Playground for EveryBODY is located right off the boardwalk at 2nd Street and is the first 100% disability-accessible beach playground in the country. Public restrooms are located at 2nd, 17th, 24th and 30th Streets.

Dining Enjoy the taste of Virginia Beach’s unique coastal cuisine as you savor mouthwatering combinations of

freshly caught seafood, local, sustainably raised pork, chicken and turkey, and homegrown fruits, vegetables and herbs. Agriculture is one of the top three industries in Virginia Beach, with miles of green space in the southern end of the city harvesting a long list of produce including strawberries, blueberries, blackberries, peaches, kiwis, apples, pears, cantaloupes, tomatoes, corn, beets, onions, broccoli, cabbage, white and sweet potatoes, green beans, eggplant, peppers, a variety of squash and leafy greens and more. Fresh catches include Chesapeake Bay blue crabs, shrimp, scallops, oysters, clams and a large number of fish such as striped bass (also known as “rockfish”), tuna, tautog, mahi-mah, flounder, trout and drum. With all this goodness, local chefs are tantalizing taste buds

with unique pairings in nearly 300 restaurants across the city. Local favorites include Chesapeake Bay crab cakes, she-crab soup, raw oysters and Oysters Rockefeller, rockfish prepared in an infinite number of ways, BBQ and all types of strawberry-based desserts. Virginia Beach also celebrates a diverse spectrum of cultures through its dining offerings, with choices ranging from Chinese, Japanese, Vietnamese and Thai to Italian, Mexican, Cuban, Greek and Indian. Arts & Culture Each year, more than 400 artists travel to Virginia Beach for one of the nation's most prestigious events, the Boardwalk Art Show and Festival, ranked as one of the Top 15 fine art shows in the U.S. by Sunshine Artist Magazine. The Virginia Museum of Contemporary Art’s (MOCA) changing exhibits feature painting, sculpture, photography, glass, video and other visual media from internationally-acclaimed artists as well as artists of national and regional renown. Additionally, visitors can experience opera, dance and musical performances at venues throughout the region, including the city’s jewel, the Sandler Center for the Performing Arts. The Town Center of Virginia Beach hosts an annual art and wine festival every May, and additionally features the First Fridays ArtWalk series on the first Friday of the month, May – October. Each spring, Virginia Beach also participates as a regional venue in the annual Virginia Arts Festival, which brings some of the world’s finest performers of classical music, dance, theater, world beat and more to the Hampton Roads region.

—more—



Page 5 – Virginia Beach Fact Sheet Shopping

Virginia Beach’s new downtown area, The Town Center, is located ten miles from the oceanfront, spans 17 city blocks and features outdoor cafes, restaurants, upscale retail and nightlife, along with business-class and deluxe hotels. Stores are a mix of national chains such as Brooks Brothers and Ann Taylor Loft, alongside small local clothing and gift boutiques. Virginia Beach also is home to Lynnhaven Mall and the Hilltop Shopping area. Lynnhaven Mall is 10-minute drive from the oceanfront and the largest shopping center in the area. Anchors include Macy’s, Dillard’s and JCPenney, while smaller national stores such as Banana Republic, Gap, The Limited, Buckle, NineWest,

H&M, Hollister, Vans, Barnes & Noble, Brookstone and Dick’s Sporting Goods round out the mix. Approximately five minutes from the oceanfront, the Hilltop area features several shopping centers with stores such as Trader Joe’s, Williams-Sonoma, Talbots, Apricot Lane, Blue Ridge Mountain Sports and a number of independently owned boutiques and shops. Along Atlantic Avenue, visitors will find a variety of shops selling everything from souvenirs to saltwater taffy.

Entertainment Throughout the year, Virginia Beach pulsates with cultural celebrations, live music performances and diverse festivals, bringing the sights, sounds and flavors of the world to the oceanfront. During the summer months, Beach Street USA provides free nightly family entertainment from the boardwalk to Atlantic Avenue. Roaming jugglers, musical acts, clowns and other performers add a festival flavor. Farm Bureau Live at Virginia Beach, the city’s premier amphitheater with a seating capacity of 20,000, showcases such national recording artists as Dave Matthews, Elton John, Sheryl Crow and Aerosmith. The Sandler Center for the Performing Arts is a 1,300-seat performance venue featuring an exquisite grand lobby and outdoor performance plaza. The venue provides a cultural centerpiece to the city, hosting regional and national artists in dance, music and theater including Tony Bennett, Bonnie Raitt, Itzhak Perlman and the Vienna Boys Choir. For the night owl, clubs and bars in Virginia Beach offer everything from live local bands, Top 40 and jazz to country, comedy and beach music. Military Installations At the jet observation park, located on Oceana Boulevard at the POW/MIA Flame of Hope Memorial Park, visitors can watch the Navy's most sophisticated aircraft take off and land at Oceana Naval Air Station. It is one of only two master jet bases and is host to the F/A-18 Hornet aircraft. On October 1, 2009, the Joint Expeditionary Base Little Creek - Fort Story was established as the first joint base in Hampton Roads. It is the country’s leading installation for housing and training the nation’s Expeditionary Forces. One command with two locations, JEB Little Creek – Fort Story is comprised of the former Naval Amphibious Base Little Creek and Army Post Fort Story. Fort Story was originally established in 1917 as a coastal artillery post. Its history, however, dates to 1607 when America's first English settlers touched shore there before continuing on to Jamestown. Its oceanfront location, two historic lighthouses, First Landing Cross and Battle Off the Capes Monument make it a popular stop for visitors. Little Creek’s beginnings date back to World War II as a training ground for amphibious forces.

—more—



Page 6 – Virginia Beach Fact Sheet Fleet Combat Training Center, Atlantic, Dam Neck provides training in the operation and employment of combat direction and control systems; and the State Military Reservation, also called Camp Pendleton, which is traditionally allocated primarily for the use of the Virginia National Guard. Note: Access to military bases may be restricted for public tours and a valid picture ID as well as a vehicle search is required.

Lodging Virginia Beach is an accommodating destination, with more than 12,000 hotel rooms, more than 1,800 campsites and several hundred rental vacation homes — most offering ocean- or bay-front vistas. Visitors can choose from a variety of well-known establishments at the oceanfront including Marriott, Fairfield Inn & Suites, Hampton Inn, Holiday Inn, Ramada and Hilton. Accommodations are conveniently located close to the beach and major attractions, and 3,500 rooms are located within 2.5 miles of the Virginia Beach Convention Center. In the Chick’s Beach area, the Virginia Beach Resort Hotel and Conference Center offers spacious accommodations, great dining as well as meeting and conference space, overlooks the Chesapeake Bay and is located near First Landing State Park. Located at Town Center, the Hilton Garden Inn and Westin Virginia Beach Town Center are ideal for both business and leisure travelers, offering easy access to 17 blocks of shopping, dining and nightly entertainment. Rental homes located both in Sandbridge and in Virginia Beach’s north end are ideal for family gatherings and can accommodate groups of five to 30. For those who prefer quaint quarters, Virginia Beach is home to several bed and breakfast inns, including the Beach Spa Bed and Breakfast, Church Point Manor and Country Villa Bed and Breakfast, located in Virginia Beach’s Pungo region.

Awards Throughout the years, Virginia Beach has continued to receive numerous accolades. The city recently ranked second in TripAdvisor’s “Travelers’ Choice Family Awards” for “Great U.S. Destinations to Discover,” placed within Men’s Health’s “2011 10 Best Cities for Men” and was named among the “10 Best Cities in America” by Businessweek. In 2010, Virginia Beach was included in Travel + Leisure’s list of top 10 boardwalks, was listed as #9 for Best Beach Destinations in Southern Living’s Readers’ Choice Awards and TripAdvisor ranked it #12 for Best Family-Friendly Vacations. In 2009, ForbesTraveler.com listed Virginia Beach in the 10 Top American Boardwalks. Virginia Beach also has received high honors as a convention destination. In 2011, the resort city received the Smart Meetings “Platinum Choice Award,” along with a “Gold Service Award” from Meetings & Conventions magazine for the tenth year running. In 2010, Virginia Beach garnered an “Award of Excellence for Outstanding Services to the Meetings and Incentive Travel Industry” from Corporate & Incentive Travel magazine and the “Distinctive Achievement Award for Outstanding Service to Association Meeting and Convention Planners” from Association Conventions & Facilities magazine. In 2009, SportsEvents magazine named Virginia Beach in their list of “Places to Watch.” Tourism and Visitor Profile Tourism is the largest economic industry for Virginia Beach. Approximately 5.5 million people visit overnight in Virginia Beach annually, spending $1.13 billion. Typically, the Virginia Beach summer visitor (May through September) is between 35 and 54 years old, married with children. Over a third of these visitors earns an average household income of more $100,000 and spend, on average, over $2,000 during their visit. A large majority of visitors arrive from the mid-Atlantic region. The city’s top states of visitor origin in descending order are: Virginia, Pennsylvania, Ohio, Maryland, and New York. The Washington D.C. metropolitan area is the top DMA for total visitation, bringing 16.8% of visitors.

—more—


:: DEMOGRAPHICS

© 2014 CB Richard Ellis. All rights reserved. This report contains information from sources we believe to be reliable, but we make no representation, warranty or guaranty of its accuracy. Opinions, assumptions and estimates constitute CBRE’s judgment as of the date this report is first released and are subject to change without notice. CBRE holds all right, title and interest in this report and the proprietary information contained herein. This report is published for the use of CBRE and its clients only. Redistribution in whole or part to any third party without the prior written consent of CBRE is strictly prohibited. Sources: Claritas.

Business Summary ReportS Independence Blvd at Princess Anne Rd, Virginia Beach, VA 23456

1 Miles: 36.789094, -76.112561......April 16, 2012

S Independence Blvd at Princess Anne Rd, Virginia Beach, VA 23456

2010 Business Summary 2010 Employees By Occupation Count %

Total Employees 151,038 "White Collar" Employees 94,629 63.1%

Total Establishments 11,353 Administrative Support Workers 26,579 17.7%

Average Employee Size 13 Executive Managers & Administrators 19,335 12.9%

Professional Specialty Occupations 23,456 15.7%

Sales Professionals 4,762 3.2%

Sales Workers & Clerks 15,725 10.5%

Technical Sales & Administrative 163 0.1%

2010 Establishments by Employee Size Count % Technologies & Technicians 4,610 3.1%

1-4 Employees 6,573 57.9%

5-9 Employees 2,084 18.4% "Blue Collar" Employees 55,231 36.9%

10-19 Employees 1,301 11.5% Construction, Repair & Mining 4,932 3.3%

20-49 Employees 831 7.3% Farming, Forestry & Fishing 4,028 2.7%

50-99 Employees 317 2.8% Handlers, Helpers & Laborers 4,030 2.7%

100-249 Employees 178 1.6% Machine Operators, Assemblers & Inspectors 2,669 1.8%

250-499 Employees 41 0.4% Other Services Field Based 643 0.4%

500-999 Employees 21 0.2% Other Services Site Based 19,639 13.1%

1,000+ Employees 8 0.1% Precision Craft & Repair 12,913 8.6%

Private Household Service 3 0.0%

Protective Services 2,074 1.4%

Transportation & Materials Moving Workers 4,300 2.9%

2010 Major Industry Employees % Establishments % Avg Size

Agricultural, Foresdry, Fishing (SIC 01-09) 1,015 0.7% 217 1.9% 4

Construction (SIC 15-17) 9,613 6.4% 1,036 9.1% 9

Finance, Insurance & Real Estate (SIC 60-69) 16,416 10.9% 1,275 11.2% 11

Manufacturing (SIC 20-39) 6,055 4.0% 231 2.0% 15

Mining (SIC 10-14) 12 0.0% 5 0.0% 0

Public Adminisdration (SIC 90-98) 6,339 4.2% 171 1.5% 16

Retail Trade (SIC 52-59) 40,135 26.6% 2,524 22.2% 14

Services (SIC 70-89) 61,265 40.6% 4,917 43.3% 12

Transportation & Communications (SIC 40-49) 3,077 2.0% 327 2.9% 7

Unclassified (SIC 99) 1,178 0.8% 273 2.4% 4

Wholesale Trade (SIC 50-51) 5,933 3.9% 378 3.3% 12

2010 Retail Trade (SIC 52-59) Employees % Emp Establishments % Estab Avg Size

Auto Dealers & Gas Stations 6,316 15.7% 225 8.9% 28

Bars 144 0.4% 12 0.5% 12

Building Materials Hardware & Garden 1,695 4.2% 120 4.8% 14

Catalog & Direct Sales 652 1.6% 50 2.0% 13

Clothing Stores 1,806 4.5% 223 8.8% 8

Convenience Stores 756 1.9% 77 3.0% 10


:: DEMOGRAPHICS


S Independence Blvd & Princess Anne Rd

1 mile radius


3 mile radius


5 mile radius

2014 Estimated Population 18,201 121,960 239,7782019 Projected Population 18,875 126,659 250,6872010 Census Population 17,768 118,840 231,9682000 Census Population 17,963 116,021 221,404

Growth 2010-2014 2.44% 2.63% 3.37%Growth 2014-2019 3.70% 3.85% 4.55%

2014 Estimated Median Age 31.73 33.91 34.992014 Estimated Average Age 33.08 35.29 36.41

2014 Estimated Households 6,290 43,300 86,5472019 Projected Households 6,583 45,359 91,1442010 Census Households 6,055 41,708 82,9302000 Census Households 5,915 38,802 75,705

Growth 2010-2014 3.89% 3.82% 4.36%Growth 2014-2019 4.66% 4.76% 5.31%

2014 Est. Average Household Size 2.94 2.81 2.72

2014 Est. Median Household Income $65,264 $68,806 $68,4102019 Prj. Median Household Income $72,021 $76,354 $75,9572000 Cen. Median Household Income $43,561 $49,836 $49,788

2014 Est. Average Household Income $74,472 $81,549 $81,3642014 Estimated Per Capita Income $25,737 $28,953 $29,368

2014 Estimated Housing Units 6,596 45,301 90,5962014 Estimated Occupied Units 6,290 43,300 86,5472014 Estimated Vacant Units 306 2,001 4,049

2014 Est. Owner Occupied Units 4,231 30,741 60,6112014 Est. Renter Occupied Units 2,059 12,559 25,936

2014 Est. Median Housing Value $212,174 $236,627 $245,4572014 Est. Average Housing Value $222,166 $251,701 $264,934

©2014 - CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Source: Nielsen

Prepared On: 4/30/2014 8:11:31 AM Page 1 of 10

Demographic ReportS Independence Blvd and Princess Anne Rd

CBRE | Hampton RoadsPrepared By:


:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

2014 Estimated Households 6,290 43,300 86,547- Income Less than $15,000 471 (7.5%) 2,610 (6.0%) 5,464 (6.3%)- Income $15,000 - $24,999 350 (5.6%) 2,111 (4.9%) 4,636 (5.4%)- Income $25,000 - $34,999 515 (8.2%) 3,053 (7.1%) 6,340 (7.3%)- Income $35,000 - $49,999 787 (12.5%) 5,591 (12.9%) 11,458 (13.2%)- Income $50,000 - $74,999 1,640 (26.1%) 10,794 (24.9%) 20,399 (23.6%)- Income $75,000 - $99,999 1,075 (17.1%) 7,374 (17.0%) 14,294 (16.5%)- Income $100,000 - $124,999 674 (10.7%) 4,790 (11.1%) 9,595 (11.1%)- Income $125,000 - $149,999 374 (5.9%) 2,987 (6.9%) 6,066 (7.0%)- Income $150,000 - $199,999 265 (4.2%) 2,470 (5.7%) 5,238 (6.1%)- Income $200,000 - $249,999 82 (1.3%) 789 (1.8%) 1,628 (1.9%)- Income $250,000 - $499,999 51 (.8%) 630 (1.5%) 1,239 (1.4%)- Income Over $500,000 7 (.1%) 102 (.2%) 191 (.2%)

2014 Est. Average Household Income $74,472 $81,549 $81,3642019 Prj. Average Household Income $83,385 $91,700 $91,3642000 Cen. Avg. Household Income $49,482 $56,871 $57,464

2014 Estimated Households 6,290 43,300 86,547- 1 Person Household 1,068 (17.0%) 8,038 (18.6%) 17,647 (20.4%)- 2 Person Household 1,784 (28.4%) 13,383 (30.9%) 27,717 (32.0%)- 3 Person Household 1,397 (22.2%) 9,199 (21.2%) 17,650 (20.4%)- 4 Person Household 1,129 (17.9%) 7,281 (16.8%) 13,788 (15.9%)- 5 Person Household 552 (8.8%) 3,336 (7.7%) 6,115 (7.1%)- 6 Person Household 222 (3.5%) 1,328 (3.1%) 2,383 (2.8%)- 7 or More Person Household 138 (2.2%) 735 (1.7%) 1,248 (1.4%)

2014 Est. Average Household Size 2.94 2.81 2.72

2014 Estimated Households 6,290 43,300 86,547- Households with No Vehicles 211 (3.4%) 1,218 (2.8%) 2,715 (3.1%)- Households with 1 Vehicle 1,921 (30.5%) 11,796 (27.2%) 24,370 (28.2%)- Households with 2 Vehicles 2,750 (43.7%) 19,610 (45.3%) 38,785 (44.8%)- Households with 3 Vehicles 1,080 (17.2%) 7,897 (18.2%) 14,652 (16.9%)- Households with 4 Vehicles 237 (3.8%) 2,117 (4.9%) 4,359 (5.0%)- Households with 5+ Vehicles 91 (1.4%) 663 (1.5%) 1,666 (1.9%)

2014 Est. Average Number of Vehicles

1.94 2.01 2.00






:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

2014 Estimated Population by Race and Origin

18,201 121,960 239,778

- White Population 8,022 (44.1%) 66,489 (54.5%) 146,495 (61.1%)- Black Population 6,204 (34.1%) 31,965 (26.2%) 53,498 (22.3%)- Asian Population 2,204 (12.1%) 12,686 (10.4%) 21,028 (8.8%)- Pacific Islander Population 19 (.1%) 183 (.2%) 370 (.2%)- American Indian and Alaska Native 69 (.4%) 412 (.3%) 803 (.3%)- Other Race Population 537 (3.0%) 3,458 (2.8%) 5,909 (2.5%)- Two or More Races Population 1,145 (6.3%) 6,767 (5.5%) 11,675 (4.9%)- Hispanic Population 1,957 (10.8%) 11,945 (9.8%) 20,475 (8.5%)- White Non-Hispanic Population 7,168 (39.4%) 60,937 (50.0%) 136,555 (57.0%)

2014 Estimated Population by Age 18,201 121,960 239,778- Aged 0 to 4 Years 1,474 (8.1%) 8,841 (7.2%) 16,153 (6.7%)- Aged 5 to 9 Years 1,499 (8.2%) 8,665 (7.1%) 15,978 (6.7%)- Aged 10 to 14 Years 1,356 (7.5%) 8,367 (6.9%) 15,886 (6.6%)- Aged 15 to 17 Years 823 (4.5%) 5,204 (4.3%) 9,943 (4.1%)- Aged 18 to 20 Years 751 (4.1%) 4,881 (4.0%) 9,914 (4.1%)- Aged 21 to 24 Years 1,004 (5.5%) 6,925 (5.7%) 13,962 (5.8%)- Aged 25 to 34 Years 3,263 (17.9%) 20,262 (16.6%) 38,102 (15.9%)- Aged 35 to 44 Years 2,643 (14.5%) 17,348 (14.2%) 33,108 (13.8%)- Aged 45 to 54 Years 2,327 (12.8%) 16,776 (13.8%) 33,926 (14.1%)- Aged 55 to 64 Years 1,826 (10.0%) 13,616 (11.2%) 27,404 (11.4%)- Aged 65 to 74 Years 927 (5.1%) 7,453 (6.1%) 15,950 (6.7%)- Aged 75 to 84 Years 254 (1.4%) 2,830 (2.3%) 7,151 (3.0%)- Aged 85 Years and Older 54 (.3%) 792 (.6%) 2,302 (1.0%)

2014 Estimated Median Age 31.73 33.91 34.992014 Estimated Average Age 33.08 35.29 36.41

2014 Estimated Population Over 25 by Educational Attainment

11,295 79,077 157,942

- Less than 9th Grade 358 (3.2%) 1,805 (2.3%) 3,321 (2.1%)- High School - No Diploma 402 (3.6%) 3,325 (4.2%) 7,133 (4.5%)- High School Diploma 3,045 (27.0%) 19,966 (25.2%) 38,499 (24.4%)- Some College 3,524 (31.2%) 23,646 (29.9%) 45,014 (28.5%)- Associate Degree 1,465 (13.0%) 9,229 (11.7%) 18,699 (11.8%)- Bachelor's Degree 1,723 (15.3%) 14,736 (18.6%) 30,320 (19.2%)- Master's Degree 639 (5.7%) 4,957 (6.3%) 11,402 (7.2%)- Professional Degree 92 (.8%) 864 (1.1%) 2,233 (1.4%)- Doctoral Degree 47 (.4%) 550 (.7%) 1,321 (.8%)






:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

2014 Estimated Owner Occupied Units by Housing Value

4,231 30,741 60,611

- Valued Less than $20,000 37 (.9%) 147 (.5%) 541 (.9%)- Valued $20,000 - $39,999 16 (.4%) 209 (.7%) 411 (.7%)- Valued $40,000 - $59,999 2 (.0%) 79 (.3%) 159 (.3%)- Valued $60,000 - $79,999 12 (.3%) 72 (.2%) 116 (.2%)- Valued $80,000 - $99,999 65 (1.5%) 239 (.8%) 372 (.6%)- Valued $100,000 - $149,999 626 (14.8%) 2,523 (8.2%) 4,142 (6.8%)- Valued $150,000 - $199,999 1,089 (25.7%) 6,639 (21.6%) 11,511 (19.0%)- Valued $200,000 - $299,999 1,873 (44.3%) 13,880 (45.2%) 27,411 (45.2%)- Valued $300,000 - $399,999 395 (9.3%) 5,083 (16.5%) 11,099 (18.3%)- Valued $400,000 - $499,999 99 (2.3%) 1,418 (4.6%) 3,152 (5.2%)- Valued $500,000 - $749,999 14 (.3%) 360 (1.2%) 1,228 (2.0%)- Valued $750,000 - $999,999 2 (.0%) 32 (.1%) 221 (.4%)- Valued More than $1,000,000 1 (.0%) 59 (.2%) 249 (.4%)

2014 Est. Median Housing Value $212,174 $236,627 $245,4572014 Est. Average Housing Value $222,166 $251,701 $264,934

2014 Estimated Housing Units by Housing Type

6,596 45,301 90,596

- 1 Unit Detached 3,481 (52.8%) 27,152 (59.9%) 56,305 (62.1%)- 1 Unit Attached 2,020 (30.6%) 11,183 (24.7%) 18,454 (20.4%)- 2 Units 12 (.2%) 73 (.2%) 441 (.5%)- 3-4 Units 244 (3.7%) 1,506 (3.3%) 3,155 (3.5%)- 5-19 Units 738 (11.2%) 3,924 (8.7%) 8,052 (8.9%)- 20-49 Units 21 (.3%) 573 (1.3%) 1,026 (1.1%)- 50+ Units 39 (.6%) 520 (1.1%) 2,156 (2.4%)- Mobile Home Units 41 (.6%) 371 (.8%) 1,009 (1.1%)- Other Units 0 0 0

2014 Estimated Housing Units by Year Structure Built

6,596 45,301 90,596

- Structure Built 2005 or Later 194 (2.9%) 2,502 (5.5%) 5,764 (6.4%)- Structure Built 2000 to 2004 494 (7.5%) 3,426 (7.6%) 7,189 (7.9%)- Structure Built 1990 to 1999 752 (11.4%) 6,048 (13.4%) 12,104 (13.4%)- Structure Built 1980 to 1989 2,793 (42.3%) 15,834 (35.0%) 27,458 (30.3%)- Structure Built 1970 to 1979 2,044 (31.0%) 12,449 (27.5%) 21,246 (23.5%)- Structure Built 1960 to 1969 262 (4.0%) 4,026 (8.9%) 12,010 (13.3%)- Structure Built 1950 to 1959 34 (.5%) 724 (1.6%) 3,744 (4.1%)- Structure Built 1940 to 1949 7 (.1%) 118 (.3%) 603 (.7%)- Structure Built 1939 or Earlier 16 (.2%) 173 (.4%) 479 (.5%)

2014 Est. Median Year Structure Built 1983 1983 1983






:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

2014 Estimated Population by Sex 18,201 121,960 239,778- Male 8,775 (48.2%) 59,481 (48.8%) 117,706 (49.1%)- Female 9,426 (51.8%) 62,479 (51.2%) 122,072 (50.9%)

2014 Estimated Pop. over 15 byMarital Status

13,872 96,087 191,761

- Male: Never Married 2,126 (15.3%) 15,922 (16.6%) 32,397 (16.9%)- Male: Married Spouse Absent 358 (2.6%) 1,961 (2.0%) 3,978 (2.1%)- Male: Married Spouse Present 3,421 (24.7%) 23,802 (24.8%) 47,002 (24.5%)- Male: Widowed 41 (.3%) 674 (.7%) 1,711 (.9%)- Male: Divorced 599 (4.3%) 3,913 (4.1%) 8,115 (4.2%)- Female: Never Married 2,075 (15.0%) 12,268 (12.8%) 24,597 (12.8%)- Female: Married Spouse Absent 521 (3.8%) 3,376 (3.5%) 6,176 (3.2%)- Female: Married Spouse Present 3,401 (24.5%) 24,209 (25.2%) 47,128 (24.6%)- Female: Widowed 252 (1.8%) 2,390 (2.5%) 6,196 (3.2%)- Female: Divorced 1,079 (7.8%) 7,572 (7.9%) 14,461 (7.5%)

2014 Estimated Population in Group Quarters

8 325 4,193

- Institutional Group Quarters 0 251 (77.2%) 2,208 (52.7%)- Non-Institutional Group Quarters 8 (100%) 74 (22.8%) 1,984 (47.3%)

2014 Estimated Occupied Housing Units by Year Occ. Moved In

6,290 43,300 86,547

- Moved In 2005 or Later 3,316 (52.7%) 21,548 (49.8%) 41,988 (48.5%)- Moved In 2000-2004 1,251 (19.9%) 7,969 (18.4%) 15,709 (18.2%)- Moved In 1990-1999 1,168 (18.6%) 7,908 (18.3%) 15,773 (18.2%)- Moved In 1980-1989 448 (7.1%) 3,914 (9.0%) 7,782 (9.0%)- Moved In 1970-1979 105 (1.7%) 1,525 (3.5%) 3,458 (4.0%)- Moved In 1969 or Earlier 3 (.0%) 436 (1.0%) 1,837 (2.1%)






:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

2014 Estimated Employed Population by Occupation

9,080 61,526 118,897

- Architect/Engineer 173 (1.9%) 1,205 (2.0%) 2,445 (2.1%)- Arts/Entertain/Sports 256 (2.8%) 1,212 (2.0%) 2,693 (2.3%)- Building Grounds Maint 403 (4.4%) 1,881 (3.1%) 3,409 (2.9%)- Business/Financial Ops 526 (5.8%) 3,205 (5.2%) 6,204 (5.2%)- Community/Soc Svcs 189 (2.1%) 1,133 (1.8%) 2,537 (2.1%)- Computer/Mathematical 177 (1.9%) 2,003 (3.3%) 4,170 (3.5%)- Construction/Extraction 346 (3.8%) 2,652 (4.3%) 5,405 (4.5%)- Edu/Training/Library 430 (4.7%) 3,261 (5.3%) 7,349 (6.2%)- Farm/Fish/Forestry 0 19 (.0%) 30 (.0%)- Food Prep/Serving 565 (6.2%) 4,025 (6.5%) 7,970 (6.7%)- Health Practitioner/Tec 470 (5.2%) 3,386 (5.5%) 6,366 (5.4%)- Healthcare Support 214 (2.4%) 977 (1.6%) 1,734 (1.5%)- Legal 28 (.3%) 515 (.8%) 1,143 (1.0%)- Life/Phys/Soc Science 51 (.6%) 236 (.4%) 599 (.5%)- Maintenance Repair 497 (5.5%) 3,311 (5.4%) 5,888 (5.0%)- Management 662 (7.3%) 5,405 (8.8%) 11,122 (9.4%)- Office/Admin Support 1,519 (16.7%) 9,740 (15.8%) 18,017 (15.2%)- Personal Care/Svc 245 (2.7%) 2,207 (3.6%) 4,240 (3.6%)- Production 545 (6.0%) 3,807 (6.2%) 5,998 (5.0%)- Protective Svcs 347 (3.8%) 1,728 (2.8%) 3,072 (2.6%)- Sales/Related 1,043 (11.5%) 7,438 (12.1%) 14,020 (11.8%)- Transportation/Moving 394 (4.3%) 2,183 (3.5%) 4,486 (3.8%)

2014 Estimated Employed Population Over 16 by Primary Transportation to Work

9,974 66,569 128,956

- Bicycle 31 (.3%) 124 (.2%) 336 (.3%)- Carpooled 858 (8.6%) 5,119 (7.7%) 9,910 (7.7%)- Drove Alone 8,742 (87.6%) 57,100 (85.8%) 109,342 (84.8%)- Other 78 (.8%) 547 (.8%) 1,146 (.9%)- Public Transport 63 (.6%) 500 (.8%) 1,226 (1.0%)- Walked 59 (.6%) 842 (1.3%) 2,187 (1.7%)- Worked at Home 144 (1.4%) 2,336 (3.5%) 4,808 (3.7%)

2014 Estimated Employed Population Over 16 by Travel Time to Work

10,038 66,911 129,431

- Travel Time Less than 15 Min 1,810 (18.0%) 12,516 (18.7%) 26,567 (20.5%)- Travel Time 15-29 Min 4,670 (46.5%) 30,852 (46.1%) 58,100 (44.9%)- Travel Time 30-44 Min 2,471 (24.6%) 16,218 (24.2%) 30,424 (23.5%)- Travel Time 45-59 Min 646 (6.4%) 3,023 (4.5%) 5,322 (4.1%)- Travel Time 60+ Min 297 (3.0%) 1,965 (2.9%) 4,210 (3.3%)- 2014 Est. Average Travel Time 26 26 25






:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

Estimated Population Over 16Years Old by Employment Status

13,603 94,379 188,498

- Civilian Males 4,342 (31.9%) 30,026 (31.8%) 58,723 (31.2%)- Civilian Females 4,647 (34.2%) 30,874 (32.7%) 58,789 (31.2%)- Armed Forces Male 677 (5.0%) 4,388 (4.6%) 9,246 (4.9%)- Armed Forces Female 178 (1.3%) 926 (1.0%) 1,665 (.9%)- Unemployed Males 300 (2.2%) 2,167 (2.3%) 3,647 (1.9%)- Unemployed Females 337 (2.5%) 2,082 (2.2%) 4,204 (2.2%)- Not in the Labor Force Male 1,089 (8.0%) 8,818 (9.3%) 19,920 (10.6%)- Not in the Labor Force Female 2,033 (14.9%) 15,098 (16.0%) 32,306 (17.1%)

2014 Estimated Employed Population by Industry Employed In

9,080 61,526 118,897

- Accommdtn/Food Svcs 775 (8.5%) 5,331 (8.7%) 10,024 (8.4%)- Admin/Spprt/Waste Mgmt 537 (5.9%) 2,457 (4.0%) 4,987 (4.2%)- Agriculture/Forest/Fish/Hunt/Mine 6 (.1%) 144 (.2%) 259 (.2%)- Construction 455 (5.0%) 3,456 (5.6%) 7,208 (6.1%)- Educational Svcs 669 (7.4%) 4,995 (8.1%) 10,496 (8.8%)- Entertainment/Rec 117 (1.3%) 1,063 (1.7%) 2,117 (1.8%)- Fin/Insur/RE/Rent/Lse 505 (5.6%) 4,164 (6.8%) 7,971 (6.7%)- Health Care/Soc Asst 1,188 (13.1%) 7,643 (12.4%) 14,441 (12.1%)- Information 256 (2.8%) 1,720 (2.8%) 3,160 (2.7%)- Mgmt of Companies 0 13 (.0%) 42 (.0%)- Oth Svcs 406 (4.5%) 3,045 (4.9%) 6,265 (5.3%)- Prof/Sci/Tech/Admin 639 (7.0%) 4,551 (7.4%) 9,409 (7.9%)- Public Administration 1,090 (12.0%) 6,392 (10.4%) 11,754 (9.9%)- Retail Trade 1,130 (12.4%) 7,955 (12.9%) 14,569 (12.3%)- Total Manufacturing 671 (7.4%) 4,717 (7.7%) 8,601 (7.2%)- Transport/Warehse/Utils 483 (5.3%) 2,633 (4.3%) 4,989 (4.2%)- Wholesale Trade 153 (1.7%) 1,247 (2.0%) 2,604 (2.2%)

2014 Estimated Employed Population by Job Type

9,080 61,526 118,897

- Blue Collar 1,782 (19.6%) 11,952 (19.4%) 21,777 (18.3%)- White Collar 5,524 (60.8%) 38,738 (63.0%) 76,665 (64.5%)- Service & Farm 1,774 (19.5%) 10,836 (17.6%) 20,455 (17.2%)

2014 Estimated Employed Population by Class of Worker

9,080 61,526 118,897

- Federal Government Workers 1,188 (13.1%) 6,563 (10.7%) 12,035 (10.1%)- Local Government Workers 916 (10.1%) 5,545 (9.0%) 10,792 (9.1%)- Private For-Profit Workers 5,951 (65.5%) 40,712 (66.2%) 77,171 (64.9%)- Private Non-Profit Workers 455 (5.0%) 3,351 (5.4%) 7,650 (6.4%)- Self-Emp Workers 375 (4.1%) 3,774 (6.1%) 8,289 (7.0%)- State Government Workers 192 (2.1%) 1,506 (2.4%) 2,801 (2.4%)- Unpaid Family Workers 2 (.0%) 74 (.1%) 158 (.1%)






:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

2014 Estimated Hispanic Population by Origin

1,957 11,945 20,475

- Cuban 60 (3.1%) 375 (3.1%) 636 (3.1%)- Mexican 517 (26.4%) 3,390 (28.4%) 5,862 (28.6%)- Other 656 (33.5%) 4,045 (33.9%) 7,059 (34.5%)- Puerto Rican 725 (37.0%) 4,135 (34.6%) 6,918 (33.8%)

2014 Estimated Hispanic Population by Race

1,957 11,945 20,475

- White 855 (43.7%) 5,552 (46.5%) 9,940 (48.5%)- Black 241 (12.3%) 1,255 (10.5%) 2,038 (10.0%)- Am. Indian or Alaska Native 24 (1.2%) 126 (1.1%) 200 (1.0%)- Asian 43 (2.2%) 271 (2.3%) 388 (1.9%)- Native Haw. Or Pac. Islander 0 22 (.2%) 41 (.2%)- Other 510 (26.1%) 3,187 (26.7%) 5,409 (26.4%)- Two or More 283 (14.5%) 1,533 (12.8%) 2,457 (12.0%)

2014 Estimated Asian Population by Category

2,204 12,686 21,028

- Asian Indian 122 (5.5%) 327 (2.6%) 892 (4.2%)- Cambodian 1 (.0%) 98 (.8%) 128 (.6%)- Chinese, except Taiwanese 10 (.5%) 453 (3.6%) 1,419 (6.7%)- Filipino 1,911 (86.7%) 9,673 (76.2%) 14,466 (68.8%)- Hmong 0 1 (.0%) 1 (.0%)- Japanese 20 (.9%) 289 (2.3%) 619 (2.9%)- Korean 5 (.2%) 361 (2.8%) 868 (4.1%)- Laotian 0 0 0- Other or 2 or More 26 (1.2%) 253 (2.0%) 641 (3.0%)- Thai 9 (.4%) 59 (.5%) 204 (1.0%)- Vietnamese 99 (4.5%) 1,173 (9.2%) 1,789 (8.5%)

2014 Estimated Population Over 5Years Old by Language Spoken at Home

16,727 113,119 223,626

- Speak Asian or Pacific Island Language at Home

1,580 (9.4%) 9,353 (8.3%) 14,611 (6.5%)

- Speak IndoEuropean Language at Home

312 (1.9%) 2,298 (2.0%) 5,416 (2.4%)

- Speak Only English at Home 13,797 (82.5%) 95,315 (84.3%) 192,969 (86.3%)- Speak Other Language at Home 73 (.4%) 408 (.4%) 758 (.3%)- Speak Spanish at Home 966 (5.8%) 5,744 (5.1%) 9,873 (4.4%)






:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

2014 Estimated Population by Ancestry

18,201 121,960 239,778

- Unclassified 1,062 (5.8%) 7,429 (6.1%) 15,658 (6.5%)- Arab 21 (.1%) 420 (.3%) 1,109 (.5%)- Czech 13 (.1%) 181 (.1%) 455 (.2%)- Danish 8 (.0%) 101 (.1%) 278 (.1%)- Dutch 101 (.6%) 624 (.5%) 1,314 (.5%)- English 585 (3.2%) 5,591 (4.6%) 13,343 (5.6%)- French (except Basque) 163 (.9%) 1,152 (.9%) 2,845 (1.2%)- French Canadian 29 (.2%) 312 (.3%) 684 (.3%)- German 1,052 (5.8%) 9,184 (7.5%) 20,108 (8.4%)- Greek 51 (.3%) 506 (.4%) 1,034 (.4%)- Hungarian 17 (.1%) 234 (.2%) 641 (.3%)- Irish 1,172 (6.4%) 8,119 (6.7%) 15,879 (6.6%)- Italian 537 (3.0%) 5,363 (4.4%) 10,981 (4.6%)- Lithuanian 30 (.2%) 110 (.1%) 233 (.1%)- Norwegian 71 (.4%) 470 (.4%) 1,171 (.5%)- Other ancestries 7,651 (42.0%) 48,204 (39.5%) 86,794 (36.2%)- Polish 200 (1.1%) 2,030 (1.7%) 4,416 (1.8%)- Portuguese 29 (.2%) 205 (.2%) 562 (.2%)- Russian 39 (.2%) 413 (.3%) 1,036 (.4%)- Scotch-Irish 128 (.7%) 1,025 (.8%) 2,056 (.9%)- Scottish 180 (1.0%) 1,258 (1.0%) 2,944 (1.2%)- Slovak 5 (.0%) 218 (.2%) 330 (.1%)- Subsaharan African 3,209 (17.6%) 12,134 (9.9%) 19,457 (8.1%)- Swedish 70 (.4%) 458 (.4%) 904 (.4%)- Swiss 0 49 (.0%) 119 (.0%)- Ukrainian 4 (.0%) 74 (.1%) 352 (.1%)- United States or American 1,586 (8.7%) 14,971 (12.3%) 32,943 (13.7%)- Welsh 66 (.4%) 337 (.3%) 704 (.3%)- West Indian (exc Hisp Groups) 123 (.7%) 789 (.6%) 1,431 (.6%)






:: DEMOGRAPHICS



1 mile radius


3 mile radius


5 mile radius

Total Number of Employees 5,603 30,959 115,755

Management, Business, and Professional

1,714 (30.6%) 10,644 (34.4%) 38,711 (33.4%)

- Management 354 (6.3%) 2,447 (7.9%) 9,384 (8.1%)- Business and financial operations 165 (3.0%) 1,392 (4.5%) 7,083 (6.1%)- Computer and Mathematical 41 (.7%) 466 (1.5%) 2,386 (2.1%)- Architecture and Engineering 14 (.2%) 384 (1.2%) 1,710 (1.5%)- Life, Physical, and Social Science 31 (.6%) 190 (.6%) 688 (.6%)- Community and Social Services 109 (1.9%) 529 (1.7%) 2,056 (1.8%)- Legal 1 (.0%) 110 (.4%) 1,240 (1.1%)- Education, Training, and Library 520 (9.3%) 2,779 (9.0%) 6,645 (5.7%)- Arts, Design, Entertainment, Sports, and Media

58 (1.0%) 401 (1.3%) 2,014 (1.7%)

- Healthcare Practitioners and Technical

421 (7.5%) 1,945 (6.3%) 5,505 (4.8%)

Sales and Office 1,607 (28.7%) 8,019 (25.9%) 31,328 (27.1%)- Sales and Related 837 (14.9%) 3,649 (11.8%) 13,862 (12.0%)- Office and Administrative Support 770 (13.7%) 4,371 (14.1%) 17,466 (15.1%)

Service 778 (13.9%) 4,401 (14.2%) 15,610 (13.5%)- Healthcare Support 105 (1.9%) 466 (1.5%) 1,488 (1.3%)- Protective Service 56 (1.0%) 407 (1.3%) 1,774 (1.5%)- Food Preparation and Serving Related

94 (1.7%) 602 (1.9%) 1,954 (1.7%)

- Building and Grounds Cleaning and Maintenance

243 (4.3%) 1,602 (5.2%) 5,674 (4.9%)

- Personal Care and Service 279 (5.0%) 1,325 (4.3%) 4,721 (4.1%)

Trade & Labor 818 (14.6%) 5,748 (18.6%) 21,807 (18.8%)- Farming, Fishing, and Forestry 13 (.2%) 54 (.2%) 197 (.2%)- Construction and Extraction 185 (3.3%) 2,281 (7.4%) 8,253 (7.1%)- Installation, Maintenance, and Repair

183 (3.3%) 1,070 (3.5%) 4,376 (3.8%)

- Production 106 (1.9%) 723 (2.3%) 2,840 (2.5%)- Transportation and Material Moving 331 (5.9%) 1,620 (5.2%) 6,141 (5.3%)

Unclassified 685 (12.2%) 2,147 (6.9%) 8,299 (7.2%)

©2014 - CBRE. All rights reserved. This report contains information from sources we believe to be reliable, but we make no representation, warranty or guaranty of its accuracy. Opinions,assumptions and estimates constitute CBRE's judgment as of the date this report is first released and are subject to change without notice. CBRE holds all right, title and interest in this report and the proprietary information contained herein. This report is published for the use of CBRE and its clients only. Redistribution in whole or part to any third party without the prior written consent of CBRE is strictly prohibited.


Business OccupationS Independence Blvd and Princess Anne Rd



:: DEMOGRAPHICS


1. S Independence Blvd & Princess Anne Rd - 1 mile radius



-76.112533

-76.112533

-76.112533

36.789097

36.789097

36.789097

Location Longitude Latitude

©2014 - CBRE. All rights reserved. This report contains information from sources we believe to be reliable, but we make no representation, warranty or guaranty of its accuracy. Opinions,assumptions and estimates constitute CBRE's judgment as of the date this report is first released and are subject to change without notice. CBRE holds all right, title and interest in this report and the proprietary information contained herein. This report is published for the use of CBRE and its clients only. Redistribution in whole or part to any third party without the prior written consent of CBRE is strictly prohibited.


Business OccupationS Independence Blvd and Princess Anne Rd




EXECUTIVE SUMMARY

The Dragas Companies Executive Summary

The Dragas Companies, a 44 year veteran of the residential and commercial building industry, has consistently done well by doing good. Inspired by a fundamental belief that what we contribute will determine what we receive, this outline summarizes examples of our exceptional contributions—and our equally exceptional performance. Founded in 1968 by George Dragas, the son of Greek immigrants, the company is now led by Helen E. Dragas. George’s business acumen and survival skills were developed as a young man whose family barely survived the German occupation of Greece during World War II. His motivation to improve his family’s economic status came from watching his widowed mother suffer long hours as a factory seamstress supporting four children. At age 35, George founded The Dragas Companies. The second of his four daughters, Helen cut her teeth in the business as a very young teenager, conducting customer service surveys at age 13. Today she stands as an example of the potential for women to lead—with excellence, determination and integrity—in a traditionally male-dominated industry. The Dragas Companies celebrated its 44th anniversary in 2012. We have much to look back on with pride, and much to look forward to even in this difficult economy. From a small, under-capitalized startup we have grown to be the #1 builder in our market as measured in number of closings. Just as significant, our balance sheet and operating returns are unsurpassed in our industry. We invest as much design consideration and funding into our landscape architecture and site planning as we do into the buildings themselves, recognizing that an entire city experiences the effects of our residential communities and commercial developments. This philosophy has allowed us to hold our heads high in our hometown for four decades. It also significantly helps us continually earn the favor of civic leagues and government officials as we entitle new developments.

From a small, under-capitalized startup we have grown to be #1

builder in our market.

Our balance sheet and operating returns are unsurpassed in the

industry.

CEO Helen Dragas stands as an example of the potential for women

to lead in a traditionally male-dominated industry.

The Dragas Companies has consistently done well by doing good.



The Dragas Companies Executive Summary

Our efforts to do well by doing good have been rewarded on many fronts. Our developments have been recognized for decades through awards from civic, industry and, most significantly, local government bodies. In the past ten years we have received more than 20 awards, including America’s Best Builder from Builder Magazine in 2009. In keeping with our philosophy of giving back to our community, in 2007 we announced a $1.5 million donation to the cities of Chesapeake, Norfolk and Virginia Beach to support their efforts to end homelessness. The gift was targeted at homeless children to provide a stable living environment for homeless families so that the children have a better chance at educational success, thereby breaking a generational cycle of poverty. We are told by those involved in national efforts to end homelessness that this gift is among the largest ever in the nation. The Dragas Companies is an important, recognized player in the southeastern Virginia building industry. Our influence in the marketplace has raised the bar for other developers; our approach to business has become something others aspire to duplicate. But pride in our past accomplishments does not distract us from looking to the future. Our goal is to continue our success in well-planned growth for many years to come. In this down cycle, for example, we have used our substantial capital to acquire new property at advantageous prices, just as we have in the past. In short, we maintain a proactive vision for the future, and we trust that this focus, along with a resolute desire to do well by doing good, will continue to serve us well for another 40 years and beyond.

We have received more than 20 industry awards, including

America’s Best Builder in 2009.

We contributed $1.5 million to the cities of Chesapeake, Norfolk and Virginia Beach to support their efforts to ends homelessness—one

of the largest such gifts ever in the nation.

s. independence boulevard and princess anne road...

Documents