Taxable value of commercial and industrial real estate in the county increased by about $1.3 billion, or 9.5%, from 2025 to 2026.
Commercial asset classes saw construction and revaluation increases across the board, including:
Office/Warehouse, 17.4%
Industrial flex buildings, 15.8%
Retail stores, 15.3%
Industrial manufacturing, 14.8%
Restaurants, 13.3%
All told, commercial and industrial properties accounted for nearly 29% of the growth in Chesterfield’s 2026 land book, which increased by $4.2 billion, or 6.5%, year over year.
And that’s with several large economic development projects, including LEGO’s precision manufacturing facility at Meadowville Technology Park, still in various stages of buildout. Even at 30% completion, the LEGO site is currently assessed at $235 million – making it the second most-valuable commercial real estate in the county.
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