Fairbridge Properties to Develop 86,764-SF, Build-to-Suit Industrial Property in Minnesota
Construction Slated to Begin in Late 2015
COON RAPIDS, MN, (July 30, 2015) – Fairbridge Properties, a privately held real estate investment company, announced plans today to develop an 87,764-square-foot office/industrial building at 8840 Evergreen Boulevard NW in Coon Rapids, Minnesota.
Construction of the facility is slated to begin in late 2015. When complete, the building will be equipped with 13 nine-by-ten-foot insulated loading dock doors, manual dock levelers and dock seals, an ESFR sprinkler system and ample parking. The building will also feature either 24-foot or 32-foot clear height ceilings, which can be customized based on the tenant’s needs and requirements. This project will take place on the same property where Fairbridge owns an already existing 261,805-square-foot building that is 100 percent occupied.
“Fairbridge Properties is continually looking for ways to maximize the potential for our assets to generate increased yields through reliable and growing income,” said Dr. Dmitry Gordeev, Fairbridge Properties’ founder and managing partner. “We purchased the property in part because it includes land that has not yet been developed and also because local business conditions favor strong demand for flex space.”
Situated in Coon Rapids, a northern suburb of Minneapolis-Saint Paul and a strong northeast industrial submarket, the already existing industrial park at 8840 Evergreen Boulevard NW is currently occupied by Honeywell Aerospace and Boston Scientific. The space is used for research, development and light manufacturing. The property is only 13 miles from downtown Minneapolis, and conveniently located next to a regional mall and multiple shops and restaurants.
“The site’s physical layout, proximity to major roadways, and the Twin Cities’ friendly business-climate makes Coon Rapids an ideal location for a company looking to expand its research, development and light manufacturing footprint.” Gordeev said. “We look forward to partnering with a tenant on developing a facility that will provide the same competitive advantages that our tenants Honeywell Aerospace and Boston Scientific both enjoy.”
Dan Friedner and Jay Chmieleski of Colliers International in Minneapolis-Saint Paul were retained to market the building to prospective tenants. Friedner can be reached directly at email@example.com or 952-897-7863.
Fairbridge Properties was founded in 2012 by Dmitry Gordeev. Headquartered in Princeton, N.J., Fairbridge acquires, develops and manages commercial properties in the average asset class range of 10 to 45 million dollars.
Fairbridge is well-known for its in-house asset management expertise and responsiveness to investors’ needs. The company holds a superior track record in acquiring premium central business district (CBD) office buildings, suburban office centers and flex/R&D projects. The tenants in these buildings are primarily Fortune 500 companies.
Fairbridge’s main goal is to generate, maximize and preserve value for investors. With this goal in mind, Fairbridge is set us up like no other real estate investment partnership. It is cost-effective and agile in order to rapidly take advantage of marketplace opportunities within a short response time. 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 property and asset management, efficient operation, and abundant access to capital, the company has consistently maximized profitability for its investors. For more information, visit www.fairbridgeproperties.com.