Strathmore Commences Development of 25 Acre Grocery Anchored Retail Center in Chesapeake, VA
Deploy Development Group and Strathmore Real Estate Group are co-developing a 25 acre property in the Edinburgh Market of Chesapeake, VA that will feature a 120,000 SF Regional Shopping Center and an additional 5 outparcels. This development is currently referred to as Edinburgh Commerce Center (ECC). ECC is adjacent to Edinburgh North Shopping Center where currently there are; Target, Verizon Wireless, Mattress Firm, Kay Jewelers, Anytime Fitness, Buffalo Wild Wings and Chick-fil-A to list a few.
The Edinburgh submarket of Chesapeake is one of the most dynamic growth areas in the Hampton Roads peninsula. Over the past few years, the Chesapeake Expressway was completed, which has included the new Target, a Home Depot, Walmart Supercenter, Sentara Medical Facility (180,000 SF), Cinema Café and ancillary retail, totaling over 2,000,000 SF. The residential growth has also exploded with over 800 new units in the pipeline. According to the City of Chesapeake Economic Development Authority, south Chesapeake along the Chesapeake Expressway and along US 17 will be the greatest growth areas in the future. Population growth are shrinking in Virginia Beach, Norfolk and Portsmouth. Several attractions to this area are the great transportation network, extremely good schools and up-scale housing. Additionally, residential growth is also strong in northeastern North Carolina, part of which is also in our trade area.