Five-Building, 100-Percent-Occupied Platte Airpark Technology Campus
is Vital R&D Hub with Blue Chip Tenant Roster
Colorado Springs, Colorado – Fairbridge Properties (“Fairbridge”) has listed for sale, with Palmer Capital, the five building, 12-acre 137,423-square-foot Platte Airpark Technology Campus. The 100-percent-occupied Colorado Springs flex campus houses office and R&D operations for aerospace and military-grade security giants Boeing Corp., Lockheed Martin, CSRA Inc., and CACI International. All four tenants are credit rated.
Platte Airpark, built in 2001, is ideal for defense contractors and aerospace leaders due to its flex space and ability to support uninterrupted power supply units (UPS) and specialized, high-security, Sensitive Compartmentalized Information Facility (SCIF) build-outs. The Campus location at 440 Wooten Road, near Colorado Springs Airport and Peterson Airforce Base, is also strategically advantageous for companies focused on advanced air defense, intelligence and military-grade security systems.
After Fairbridge acquired Platte in 2014, the owner implemented a preventive maintenance program, including repairs and enhancements to the building envelope, roof and exterior landscaping. Subsequently, as a sign of satisfaction with the campus, all four tenants subsequently either expanded their footprints or extended their leases.
Building exteriors are comprised of concrete tilt-up paneling and Genflex single ply .060 ballasted EPDM roofing. Its interior includes painted drywall, acoustic lay-in ceiling tiles, 48-inch or larger hallway widths, commercial-grade carpeting, VCT and ceramic tiles. Patte's HVAC is a Trane Voyager system with package units ranging from 3 to 12.5 tons each. The Campus also provides ample parking, with 635 spaces at a 4.6/1,000 ratio.
One of world’s top aerospace and security hubs, Colorado Springs is home not only to the United States Air Force Academy, Peterson Air Force Base, the Strategic Defense Initiative (SDI) and the North American Air Defense Command (NORAD), but also the R&D operations of almost all significant defense contractors and aerospace giants in the world. In addition to the tenants of Platte Airpark Center, General Dynamics, Harris Corporation, SAIC, ITT Exelis and Northrup Grumman all maintain a significant R&D presence in the area.
“To manage the degree of sophisticated aerospace and intelligence R&D that takes place at Platte Airpark Technology Campus, a tenant needs a facility that is strategically located near a military hub and a pool of engineering talent, and also one that is capable of supporting specialized security,” said Fairbridge Founder and Managing Principal Dr. Dmitry Gordeev. “There is every reason to believe that Platte will continue to attract industry-leading tenants for years to come, while remaining vital to our nation’s defense.”
Platte’s quality as a world-class R&D hub is unsurpassed, and tenants are also able to leverage Colorado Springs as a draw in attracting and retaining talent, while benefitting from the existing talent pool. The metro area boasts a population of some 692,900 people, and one-third of all adults over the age of 25 hold advanced degrees. The city also runs a metropolitan bus service as well as a daily commuter bus line to and from Denver. There are more than six million square feet of retail space within two miles of the campus, including Citadel Mall and Citadel Crossing.
Colorado Springs’ thriving economy reflects its high quality of life, which includes alpine skiing, hiking, mountain biking, a major performing arts center, NCAA Division I athletics, a plethora of museums and art galleries and the spectacular 300-million-year-old Garden of the Gods Park sandstone formations. The area’s nonfarm employment base totals 267,400 jobs with an anticipated 1.9 percent annual growth over the next five years.
“All of our investments are in cities with educated populations, exciting amenities and economies that are in growth mode,” Gordeev added. “Platte Airpark Technology Campus is a perfect example of the type of asset that will produce steady revenue flows due to its design, infrastructure, and location.”
About Fairbridge Properties
Fairbridge Properties acquires, develops and manages commercial properties that range in value from $15 million to $50 million. These properties are located in various primary and secondary markets throughout the continental United States.
Well-known for its in-house asset management expertise and responsiveness to investors’ needs, Fairbridge holds a superior track record in acquiring premium central business district (CBD) office buildings, suburban office centers and flex/R&D properties. The tenants in these buildings are predominantly Fortune 1000 companies.
Fairbridge’s primary goal is to generate, maximize and preserve value for our investors. With this goal in mind, Fairbridge is cost-efficient but, at the same time, well capitalized in order to rapidly respond to marketplace opportunities. The company is strategically positioned to purchase properties below replacement cost in stable yet growing markets with tenants that possess top credit ratings. Through skillful asset management and efficient operations, the company has consistently maximized profitability for its investors. For more information, visit www.fairbridgeproperties.com.