Costco Wholesale is a membership-based warehouse club that offers a wide range of products, including groceries, electronics, clothing, and household goods, at competitive prices. The company operates large retail locations where members can purchase bulk items, benefiting from lower prices due to the efficient supply chain and membership model. In addition to its physical stores, Costco provides a range of services, such as a pharmacy, optical department, and a food court, further enhancing the value proposition for its members. Through its commitment to quality and customer satisfaction, Costco has established a loyal customer base and a strong presence in the retail market. Read More
The property is located at 5483 Virginia Beach Boulevard in Virginia Beach, Virginia, along a high-traffic retail corridor near the intersection of Virginia Beach Boulevard and Newtown Road. Virginia Beach Boulevard carries approximately 37,000 vehicles per day. Newtown Road carries approximately 35,000 vehicles per day. The property benefits from immediate proximity to the Interstate 264 and Interstate 64 interchange, which generate approximately 212,000 and 179,000 vehicles per day, respectively. Surrounding national retailers include Topgolf, La-Z-Boy, BMW, Audi, Toyota, Honda, Subaru, Costco, Walmart, TJ Maxx, Burlington, CVS, AutoZone, Rooms To Go, Black Rifle Coffee Company, and Carvana. Sentara Leigh Hospital is located less than one mile from the property. Virginia Wesleyan University, with approximately 5,000 students, is situated nearby. Bayside High School, with approximately 2,000 students, is also located in close proximity. The JANAF Shopping Center, anchored by Walmart, BJ's Wholesale Club, and Goodwill, is adjacent to the corridor. More than 298,000 residents live within a five-mile radius of the property. The average household income within five miles exceeds $105,000. The population within three miles is approximately 110,440 residents. Virginia Beach is the most populous city in the Commonwealth of Virginia, with a population of approximately 455,000. The Virginia Beach MSA is ranked 37th in the United States by population size, with the broader Hampton Roads metropolitan area supporting a regional population exceeding 1.8 million. Norfolk International Airport is located within minutes of the property. Naval Air Station Oceana, a major military installation, is also situated within the city of Virginia Beach, Virginia.
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