LANDMARK CENTER LOBBY RENOVATION BEGINS

LANDMARK CENTER LOBBY RENOVATION BEGINS

INDIANAPOLIS (August 14, 2017) – A large-scale renovation of the Landmark Center lobby is now underway at the 12-story, class-A office building, located at 1099 N. Meridian Street, in Indianapolis. 

Once the renovation concludes in the fall, the new lobby will be sleek and contemporary, featuring natural stone and dark wood finishes along with include new tiling and travertine flooring, restored to its original appearance. Additionally, there will be stone walls with glass highlights, LED lighting, and an updated security desk.

Fairbridge Properties Acquires Two Class-A Office Buildings in Northern VA Submarket

Fairbridge Properties Acquires Two Class-A Office Buildings in Northern VA Submarket


N.J.-Based Real Estate Investment Firm Drawn to Portfolio’s Location Within Booming Loudoun County Submarket and Stable Tenant Roster

Fairbridge Properties, a privately held real estate investment company, announced today that it has acquired Ridgetop II and Ridgetop III, a two-building, 151,481-square-foot, Class-A office portfolio in Sterling, Virginia. Located within the Loudoun County submarket, the portfolio is currently 86 percent leased.

The portfolio is occupied by three credit-rated tenants: Neustar, Loudoun County and Constellation Software, Inc. There is 21,487 square feet of available space in Ridgetop II, which Fairbridge is planning to upgrade and re-tenant in the near future.

Greater Cincinnati Office Tower Sells for Nearly $26M

Greater Cincinnati Office Tower Sells for Nearly $26M

A Greater Cincinnati office tower sold to an out-of-town investor for nearly $26 million.

Pictoria Tower, a 253,000-square-foot, class A office building in Springdale, was acquired by Fairbridge Properties from MEPT Pictoria LLC for $25.7 million, according to property records. That breaks down to more than $101 per square foot. Located at 225 Pictoria Drive, the eight-story office building is currently 98 percent leased.

The Final Frontier: Cheap Space Travel

The Final Frontier: Cheap Space Travel

Coming on the heels of a couple of revolutionary rocket landings by SpaceX and Blue Origin, the 32nd Space Symposium in Colorado Springs, Colo., was abuzz last week with talk of a new golden age of space travel.

Amazon.com Inc. Chief Executive Jeff Bezos, who also heads private space firm Blue Origin, compared the advent of reusable rockets to the Internet and the national highway system, opening the door to an explosion of commercial space activity.

Upscale Shopping Centers Nudge Out Down-Market Malls

Upscale Shopping Centers Nudge Out Down-Market Malls

A few years ago, Restoration Hardware had three Denver-area stores scattered in malls. Today, the furniture chain has just one new one: a palatial, four-story gallery with a rooftop garden.

Retailers from Gap Inc. to Abercrombie & Fitch Inc. are abandoning a decades-old strategy of growing sales by blanketing cities with stores as consumers do more of their shopping online and less at the mall.

The shifting shopping habits have prompted chains such as Williams-Sonoma Inc. and Macy’s Inc. to close stores in secondary malls to focus on web sales and more upscale shopping centers.

Russian Math Meets American Know-How in Property Investing

Russian Math Meets American Know-How in Property Investing

What do an office tower in Indianapolis, a human services building in Utah, and an office building in Colorado Springs, Colorado, near an Air Force base all have in common? They were all bought up by Fairbridge Properties, a Vreeland Drive-based real estate investment company that uses a math-based analytical system to scour the country for stable, undervalued commercial real estate investments.

Building Boom at Colorado Springs Airport

Building Boom at Colorado Springs Airport

A construction boom is underway at the Colorado Springs Airport with projects totaling more than $15 million either recently completed, underway or scheduled to begin construction this year.

The projects include a new executive terminal Cutter Aviation plans to build on the site of the airport’s former passenger terminal next to a hangar the Phoenix-­based aviation service provider just acquired from the airport; recently completed hangars for Rampart Aviation LLC and Sierra Nevada Corp.; and an expansion of a hangar condominium complex. A vacant hangar at the airport also has been leased to Global SuperTanker Services LLC to house its headquarters and equipment for its Boeing 747-­400 aircraft that is being converted to fight wildfires and will be the nation’s largest firefighting plane.

Indy's Landmark Reaches 100% Occupancy

Indy's Landmark Reaches 100% Occupancy

INDIANAPOLIS—Managed Health Services has just signed an agreement
with Fairbridge Properties to occupy an additional 9,768 square feet of space at
Landmark Center, a class A office tower in downtown Indianapolis. The office
market in the CBD has struggled a bit in the past few years, but as reported in
GlobeSt.com, recently it has shownsigns of revival. And MHS’ expanded
footprint brings the 12-story Landmark, located at 1099 N. Meridian St., to 100%
occupancy.

As of August 1, MHS now occupies a total of 60,452 square feet, or 19.75% of
the building’s total, and have a presence on four floors of the building, a
representative of Fairbridge tells GlobeSt.com. MHS extended their 1st floor
temporary space of 2,621 square feet and expanded into the 9th floor. Both the
extension and the expansion are incorporated into the terms of the existing lease.
The expiration for all space is April 30, 2017.

Five-Year Lease Reflects N.J.-Based Real Estate Investment Firm’s Focus on Tenant Retention and Building Improvements

Five-Year Lease Reflects N.J.-Based Real Estate Investment Firm’s Focus on Tenant Retention and Building Improvements

Fairbridge Properties, a privately held real estate investment company, announced today that the Utah State Office of Rehabilitation has renewed its lease at the Price Human Services Building, located at 475 West Price River Drive in Price, Utah. The renewed lease covers a
five-year period.

The multi-tenant office building is fully occupied by the State of Utah and currently houses three different agencies including the Department of Human Services, the Department of Workforce Services and the Department of Rehabilitation Services. Since purchasing the building in 2013,
Fairbridge has been committed to actively maintaining and continually improving the building. Its latest project will be the installation of a 21,622-square-foot, state-of-the-art, TPO 60 mil roofing system, which is scheduled to take place this fall.

 

Stars Align for Industrial Property in Minnesota

Stars Align for Industrial Property in Minnesota

MINNEAPOLIS—It looks like the Twin Cities' soaring industrial economy has
opened up opportunities for owners willing to sell. Fairbridge Properties, for
example, recently sold a 261,805 square foot industrial facility in suburban Coon
Rapids to Shopoff Realty Investments for about $14 million. Fairbridge owned
the property for less than three years but realized an internal rate of return of
75%.

“We were buying the property as a long-term hold,” Dr. Dmitry Gordeev,
Fairbridge’s founder and managing partner, tells GlobeSt.com. The Princeton,
NJ-based firm “started improving the asset from day one as if we would hold it for
twenty years.”

Fairbridge Properties Acquires Indianapolis' Landmark Center for $21.5 Million

Fairbridge Properties Acquires Indianapolis' Landmark Center for $21.5 Million

Fairbridge Properties (“Fairbridge”), a privately held real estate investment company, announced today that it has acquired Landmark Center, a 304,946-square-foot, Class-A office tower in Indianapolis, Indiana. Fairbridge paid $21.5 million for the 12-story building, located at 1099 N. Meridian Street in the city’s central business district.

Purchased by Fairbridge at a cap rate above 10 percent — more than 50 percent below replacement cost — Landmark Center offers a rich amenity package that includes a new fitness center and yoga studio, a conference facility, indoor bike storage, a full-service cafeteria and a parking ratio of 4 spots per 1000 square feet. Floor plates at Landmark Center measure 25,000 square feet, thus enabling open-space configurations that are ideal for large national companies, government agencies and other team-intensive businesses.

Downtown Indy releases updated Project List boasting $1.36 billion in new Downtown development

Downtown Indy releases updated Project List boasting $1.36 billion in new Downtown development

Downtown Indy released its updated Project List for Downtown which includes 58 projected developments in the pipeline with an investment of more than $1.36 billion to be completed between now and 2017. Since 1990, more than $12.4 billion has been invested Downtown and there’s no slowdown in sight.

Even in a recovering economy, Downtown development momentum continues. The return on these investments benefits the entire region with diverse employment options, a larger tax base, enhanced quality of life and increased visitation.

Cities in South, West to Grow Faster - Xango Location to Benefit

Cities in South, West to Grow Faster - Xango Location to Benefit

By The Wall Street Journal

The U.S. economy seems headed to a long-run growth rate well below 3%, but some metropolitan areas will see their economies surge above 4% annually for the rest of this decade, according to a study released by the U.S. Conference of Mayors.

Metro areas—which include cities along with surrounding suburbs—are already doing better than smaller nonmetro areas, according to the study, compiled by economists at IHS Global Insight.

Platte Airpark Center Complex, Medical Office Building Sold

Platte Airpark Center Complex, Medical Office Building Sold

The Colorado Springs Business Journal

The 137,900-square-foot Platte Airpark Center sold for $14.35 million, the broker announced this week. The five buildings are located at 320 to 480 N. Wooten Road.

The buyer is Fairbridge Partners LLC, a national real estate investment trust, of Princeton, N.J.

One of the listing agents, Andy Oyler of Quantum Commercial Group Inc., said the property is fully leased, with the exception of half of one building, or 11,700 square feet.

Xango Building Under New Ownership

Xango Building Under New Ownership

CoStar

The office building located at 2889 N Ashton Blvd. in Lehi, Utah sold for an undisclosed sale price to Princeton, N.J.-based Fairbridge Partners, LLC.

The four-story office building has 100,951 square feet of rentable space and was fully occupied at the time of the transaction. Although a sale price was not confirmed it was confirmed that the property was listed with an asking price of $21 million.

HONEYWELL-BAYER BUILDING ACQUIRED BY NEW JERSEY FIRM

HONEYWELL-BAYER BUILDING ACQUIRED BY NEW JERSEY FIRM

Fairbridge Partners, LLC, of Princeton, N.J. acquired the 261,805 square ft. building located at 8840-8880 Evergreen Boulevard, Coon Rapids, MN. for an undisclosed price.

The property built in 1986 with a 1991 addition of 77,000 square ft. is fully leased by Honeywell and Bayer. The facility is mixed use industrial/office and houses the Honeywell aerospace plant and the Bayer Health Care medical device plant.

PRICE HUMAN SERVICES BUILDING SOLD

PRICE HUMAN SERVICES BUILDING SOLD

The office building located at 475 West Price River Drive in Price, Utah sold for an undisclosed price to Fairbridge Partners, LLC, a national real estate investment firm located in Princeton, N.J.

The two-story building has 38,129 square feet of rentable space and is fully occupied.  The property was listed for an asking price of ­­­five million dollars­­.