Big things are coming to Coastal Virginia! With Phase Two of development officially underway at Summit Pointe, exciting commercial real estate opportunities have opened up and leasing for signature properties along Summit Pointe’s iconic Belaire Avenue are now available.
We took some time to speak with the team representing the office space available for lease at Summit Pointe: Pat Mugler and Perry Frazer. The pair, representing Colliers International, were excited to share their stories from their history in commercial real estate, as well as their perspective on the great office leasing opportunities available in Coastal Virginia’s premier urban lifestyle community.
How long have you been working in Commercial Real Estate leasing?
Perry: “I’ve been working in the industry for 24 years. I was born and raised in Annapolis, Maryland, and attended the University of Virginia where I met Pat through the athletics department. Pat actually brought me into the industry! When I moved to Virginia in 1995, he encouraged me to start working in commercial real estate leasing, and we’ve been working as partners ever since.”
Pat: “I’m going on 29 years in the industry as of June. Out of college, I had to make the decision between pursuing professional soccer or business as a career and decided to go with business. I interviewed with Tom Robinson of Robinson Sigma and started my career working for him. Over the years, Robinson Sigma partnered with CBRE and eventually transitioned to the Colliers International partnership we now work with today.”
What is your favorite part of working for Colliers?
Perry: “Being such a large company, Colliers has great reach on a national and international level. We really enjoy their style of management, which is supportive but hands-off, allowing us to make connections with leadership around the country. It’s really given us a chance to connect with an international network and be entrepreneurial.”
Pat: “Colliers provides us with a great level of support. When we transitioned from CBRE to Colliers, we had a workforce of over 340 employees. Colliers allowed us to retain all of our employees while providing quality services and support to both our team and the clients we serve.”
What got you interested in working in the real estate business?
Perry: “I was drawn in by the diversity of disciplines within commercial real estate. Getting into an industry with so many different paths was really a draw for me. With office leasing, specifically, I enjoyed working in a fast-paced, professional environment and helping business owners make empowered decisions. I can take pride in knowing I helped my clients make these decisions. And with such a busy field, my days are always interesting. Your day is never the same in office leasing!”
Pat: “For me, it really had to do with the people I worked with starting out. I came into the field during a bit of a rough patch. The market was in a recession, and my colleagues were leaving left and right. Luckily, I had formed some great partnerships with other agents, and, with tutoring from great mentors like Tony Smith and Tom Robinson, I was able to make it through the initial learning curve. I’m proud to say that I’ve been working under Tom’s leadership since I started in the business.”
What are some other interesting projects you have worked on?
We’ve been fortunate enough to work through the 1998 to 2004 development boom in Hampton Roads. Over the years we’ve leased millions of square feet of office space in the Coastal Virginia area. From 150 West Main in downtown Norfolk to office parks and buildings in Battlefield, Suffolk, Chesapeake, and more, we’ve really seen the landscape of office developments grow across Hampton Roads and the entire Coastal Virginia region.
What makes the office space at Summit Pointe stand out?
Perry: “This will be the first new speculative office space in the Chesapeake area in over 15 years. The 25,000 SF floor plates in the building are very appealing to larger users in the market. In addition, the floors are easily subdivided for smaller users. In addition to that, all the buildings are being constructed with state-of-the-art materials. For example, we are installing new, high-performance glass which will make the building operate more efficiently and keep operations costs down. Tenants will enjoy access to quality amenities and can take advantage of the Live Work Play environment. Finally, the space is being delivered at a very competitive price point, with the cost level being similar to or just slightly above existing office space in the area that is over 15 years old.”
Pat: “Summit Pointe also has the beauty and privilege of having Dollar Tree as a lead tenant. For other prospective tenants, it’s really great to see such a successful Fortune 200 company take the lead in leasing space at Summit Pointe. The Dollar Tree team really has put a lot of diligence and thought into supporting this project, and with their help, we have been able to anticipate the needs of future tenants.”
What office leasing opportunities are available at Summit Pointe?
Perry: “We will be leasing 555 Belaire office building (the official name of Building One) from the ground-up. The first floor will have leasing options open to retail, service, and office tenants, while the second floor is available for a full-floor tenant to lease the entire 25,000 square feet of space. The third and fourth floors will be shared space, with the ability to lease anywhere from 2,500 to 25,000 square feet of space on the floor. Finally, we are keeping the fifth and sixth floors of the building open to anything a future tenant might want, including full-floor plans.”
Pat: “Overall, there will be office leasing options available from 2,500 square feet all the way up to the entire 150,000 square feet.”
What kind of benefits will those leasing office space at Summit Pointe enjoy?
We are offering a new product, in a great location, at a reasonable cost. Employees will be able to live right near work, which has seen success in areas such as downtown Norfolk. And for those commuting, there will be ample free parking, which is a plus in a competitive office landscape.
When employers pick a location, they want a nice product that will not just attract talent but also retain top talent. When you locate your business in a place where people want to be, they will want to work there. Today it is challenging to retain and hire the best workforce, but Summit Pointe is implementing many features that will allow its office space to really stand out among the competition and help retain top talent.
What are the advantages of locating an office at Summit Pointe/in the Coastal Virginia region?
Summit Pointe is extremely accessible for everyone in the area, with close proximity to many key local areas including the Virginia Beach oceanfront and downtown Norfolk and Suffolk. Coastal Virginia is a booming region, and the draw of new space in a region full of so many opportunities is appealing to many companies, both local and those who are from out-of-state or region.
How do you think bringing these new tenants into Summit Pointe will benefit Coastal Virginia?
As we’ve already seen with the occupancy of the Dollar Tree campus, Summit Pointe will bring in a large number of companies from areas outside of the Coastal Virginia region. All of these new businesses, employees, and residents will drive retail and living spaces, increasing tax revenue and raising up the region’s economy.
With the amount of space planned at Summit Pointe, there is the potential to lease large blocks of office and retail space. The flexible zoning allows for multiple product types such as hotels and specialty grocery stores, and the possibilities of who can occupy the space here are almost endless. This will help Summit Pointe grow into its own submarket within the Coastal Virginia region.
How would you describe what the working culture will be like at Summit Pointe?
As we’ve already seen with Dollar Tree’s occupancy, employees working at Summit Pointe will really be able to enjoy working around other top-tier talents. In addition to a wonderful working environment, employees will be able to live, shop, dine and play at Summit Pointe.
How can people find out more about the office space available at Summit Pointe?
Call or email Pat Mugler or Perry Frazer (contact information listed below) for more information. We are very accessible and knowledgeable and can answer any questions about the office leasing opportunities available at Summit Pointe. And if you’d like to see more for yourself, explore the Summit Pointe website at http://summitpointe.wpengine.com.