Atlantic Union Bank 201 Volvo Pky 5,517 SF Retail Building Chesapeake, VA 23320 $7,013,791 CAD ($1,271.31 CAD/SF) 6.30% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Atlantic Union Bank located in Chesapeake, Virginia. Atlantic Union Bank is currently operating on a long-term NNN lease through December 2040, with approximately 14 years of remaining term. The subject lease presents zero landlord responsibilities. Additionally, there are 1.50% annual rent escalations throughout the remaining primary term and two 5-year renewal options with 2.00% annual rent increases. The lease is backed by a corporate guarantee from Atlantic Union Bankshares Corporation (NYSE: AUB), the largest bank headquartered in Virginia. Atlantic Union Bank maintains a KBRA: A- investment grade credit rating.
The 5,517 square-foot building is positioned along Volvo Parkway, which carries approximately 25,000 VPD. Located in Chesapeake’s Greenbrier submarket - the largest commercial district in Hampton Roads with approximately 50,000 daytime employees. The property bene?ts from immediate proximity to Greenbrier Parkway, a principal arterial accommodating approximately 72,000 VPD, and direct access to Interstate 64 at Exit 289. The site is immediately adjacent to Summit Pointe, a $330 million mixed-use development anchored by Dollar Tree’s corporate headquarters, and within close proximity to Greenbrier Mall (approximately 900,000 square feet, anchored by Dillard’s, JCPenney, and Macy’s) and Greenbrier MarketCenter (Target, Harris Teeter, Best Buy, and Barnes & Noble). The Sentara Greenbrier HealthPlex, a major outpatient medical facility, is located on Volvo Parkway immediately adjacent to the property, generating consistent daytime traffic from healthcare workers and patients. There are more than 212,000 residents within a 5-mile radius of the property, earning an average household income exceeding $106,000.
Atlantic Union Bank is a full-service regional commercial bank headquartered in Richmond, Virginia, and a wholly owned subsidiary of Atlantic Union Bankshares Corporation (NYSE: AUB). Following its April 2025 acquisition of Sandy Spring Bancorp, Atlantic Union Bank became the largest bank headquartered in Virginia, operating approximately 190 branches across Virginia, Maryland, and North Carolina with approximately $37.6 billion in total assets and reporting net income of $261.8 million in ?scal year 2025. The bank carries a KBRA: A- investment grade credit rating, affirmed in October 2025 with a Stable outlook.