A New $300 Million Urban Mixed-Use Center Comes to Greenbrier

CHESAPEAKE, Va., Feb. 22, 2018 /PRNewswire/ -- Summit Pointe Realty, LLC today unveils plans for the continued development of Summit Pointe, Chesapeake's newest, largest and tallest urban lifestyle community. Representing a projected investment of over $300 million of development in multiple phases, this first phase emphasizes a new form of urban living, workplace solutions, entertainment and shopping options.

The iconic high-rise office tower under construction at Summit Pointe is the world headquarters for Dollar Tree, Inc. (NASDAQ:DLTR), comprising 510,000 square feet of state-of-the-art workspace. Scheduled for completion in the summer of 2018, this will be the tallest office tower in Chesapeake, visible from Interstate 64. The adjacent parking deck with public parking contains 1,500 spaces.

Uniquely designed workplaces and residences over ground floor shops and restaurants will frame the tree-lined Belaire Avenue, a gathering place for new entertainment and dining options in the region. Outdoor musical events, festivals and other functions will enliven the urban experience in the piazza nestled within the heart of Summit Pointe.

"The Summit Pointe experience will offer workers, residents and visitors a dynamic social environment unmatched in the region. Upscale offices and residences, cafes, a boutique hotel choice and unique retailers will blend together to create the Summit Pointe experience. This is the beginning of a new downtown in Greenbrier for Chesapeake," stated Rick West, Mayor of Chesapeake, Virginia.

Additional new development will include upscale residential communities with unequaled lifestyle amenities containing at least 600 units, over 100,000 square feet of new retail and restaurant spaces, at least 100,000 square feet of traditional and modern workspaces, and a boutique hotel.

"Great companies are attracted to great places. We are building a dynamic campus environment at Summit Pointe. This project will enable our company, the City of Chesapeake, and the entire Hampton Roads region to attract top-tier talent and grow the workforce and business landscape of the future," stated Bob Sasser, Dollar Tree's Executive Chairman.

Summit Pointe is presently zoned to develop 1.0 million square feet of office space, over 1,400 residences, up to 500,000 square feet of retail space, and 250,000 square feet of hospitality and conference space.

Contact:

Summit Pointe Realty, LLC
[email protected]

Dollar Tree, Inc. (NASDAQ: DLTR)
Randy Guiler, Vice President, Investor Relations
757-321-5284
[email protected]

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ABOUT SUMMIT POINTE
www.SummitPointeVA.com

About Dollar Tree
Dollar Tree, Inc., a Fortune 200 Company, operates more than 14,800 stores across 48 states and five Canadian provinces. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To learn more about the company, visit www.dollartree.com.

About Saunders+Crouse Architects
www.saunderscrousearchitects.com

SOURCE Summit Pointe Realty, LLC