Ashby Real Estate Group (AREG) partner company Ashby Development is a leader in all phases of real estate development. Distinctive architecture, high quality materials and construction, along with innovative office buildings, mixed use retail, flex-warehouse and multi-family apartment communities are the bases for the strong history of Ashby Development. For additional information on Ashby Development – www.AshbyDevelopment.com
General Development Consulting
Located in Chesapeake, Virginia, Ashby Development is fully aligned with the goals of its partners and clients structure. We are a multidisciplinary company that has formed internal divisions and external strategic alliances to deliver customized integrated services. Our commercial development group provides all related services to the commercial real estate community. We also successfully provide pre-leasing, leasing and sales based property services through AREG. The company prides itself in creating and nurturing long-term relationships with other real estate agents, developers, industry leaders, construction companies, government officials and lenders.
Commencing with the site selection and acquisition, the Development Team is committed to finding and developing the most profitable and innovative properties to add to a portfolio, start a portfolio, or develop an owner/user project. Our intense dedication to our projects and clients enables us to replicate successful development projects and positive experiences.
Preferred Development Services
A division of Ashby Development, Ashby Preferred Development Services caters to national and regional end users interested in a full service rollout including; proforma and cost analysis modeling, site selection, documentation negotiations, and development and construction services to form a full service experience. This allows the end user to take advantage of market knowledge and experience thus allowing for speed and accuracy to the marketplace. This program is based on ongoing communication and full proof implementation thus leaving the end user to focus their time on their core business aspects. Through this division we also offer a Tenant Fit up platform offering end users a full service design and construction model focusing primarily on leased environments or building purchases that may require upgrades or retrofits.
Development Example:
An example of a unique and adaptive use of a development project was the office property WJH 2001, LLC, a +/-15,300 square foot office/warehouse building located in the Greenbrier section of Chesapeake, Virginia.
The property consist of 6,000 sqft office and 9,300 sqft of warehouse space. The warehouse area can be divided into three smaller units, with individual overhead doors, or combined as one clear span area.
The WJH 2001, LLC project was a redevelopment project for Ashby Development. The increasing market demand for office/warehouse or flex space in the Greenbrier market of the Hampton Roads MSA helped us to identify the property as one with unused land and the ability to increase value after the purchase. At the time of purchase the site consisted of a 6,000 sqft office building with additional land for development. Upon acquisition of the property a 9,300 sqft warehouse addition was added to the existing structure to create a total of 15,300 sqft office/warehouse or flex space that can be configured for a single tenant or multiple flex space users.
During construction of the warehouse addition half of the office space and all of the warehouse space was leased by government service contractor that occupied the space for 10 years. At the conclusion of the initial tenant’s occupancy the decision was made to demise the project into smaller office/warehouse spaces as the market conditions demonstrated a higher demand for this product. Within three months Ashby Real Estate Group had finalized three transactions to secure three credit quality tenants for the project which continues to be 100% occupied.
