02/03/2026
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.
If the residential piece of Chesterfield’s 2026 real estate assessments could best be described as “business as usual,” on the commercial side it’s “business is booming.”
