Aerospace and defense technology leader signs seven-year lease in prime office building, part of Lakefront at Keystone Office Park
INDIANAPOLIS, January 24, 2022 /PRNewswire/ — Rubenstein Partners, LP (including its affiliates, “Rubenstein”), a vertically integrated real estate investment advisor focused on capital and debt opportunities in value-added office properties, announced a new seven-year lease for an entire building with Raytheon Intelligence & Space at Lakefront 6, an 86,965 square foot office building located at 3939 Priority Way in Indianapolis, Indiana. Lakefront 6 is part of Lakefront at Keystone, a Class A office park comprising 15 buildings and over one million square feet of space around a 38-acre lake.
Raytheon Intelligence & Space is an aerospace and defense company that provides advanced systems and services to commercial, military and government customers worldwide. The four-story construction lease for Lakefront 6 will support development work in advanced sensors, cyber and software solutions.
Rubenstein and Strategic Capital Partners acquired Lakefront in Keystone in 2017 and embarked on a multi-million dollar capital improvement plan to make the suburban’s most desirable office park. Indianapolis. The repositioned development features new interior and exterior amenities including:
The Anchor, a new indoor amenity center, which includes a state-of-the-art fitness center, tenant lounge, full-service cafe, conference rooms and the property management office.
Le Port, a floating barge that takes full advantage of the lake in the office park to create a place of entertainment.
The Boardwalk waterfront plaza, basketball court, practice circuit, bike path, food truck depot and rest areas.
The Landing, an outdoor lakeside retreat area with casual seating, fire pits, and interactive games for lunch breaks, team building, and after-hours get-togethers.
“We are pleased to announce a long-term agreement with technology and innovation leader Raytheon Intelligence & Space to serve as the full occupier of the Lakefront 6 property. With this lease, Raytheon Intelligence & Space realizes a significant investment in Central Indiana and we are proud to be part of it as well”, notes Brian Simel with Rubenstein. “Our ownership group has already made massive investments to improve the Lakefront campus, and we’re not slowing down because these amenities and the fresh campus energy have been a major contributor to the recent success we’ve seen in terms of looking to the future, our goal is to continue to add even more amenities and make Lakefront in Keystone the most vibrant live-work-play community in the area.
The Lakefront at Keystone property has enjoyed significant leasing activity over the past two years with top tenants including eHealth, Ducharme McMillen & Associates, and Thrivent Trust Company. Two restaurant leases with Prodigy Burger Bar and Big Bear Biscuits were also announced earlier this year. The office park is adjacent to Interstate 465, with excellent visibility and signage opportunities. The Lakefront at Keystone property is also close to carmel, consistently rated as one of the best places to live United States. Additionally, the office park is surrounded by numerous restaurants, hotels and entertainment venues and close to the Fashion Mall in Keystone.
A JLL team led by Tammy Faulk and John Robinson represented the owner in negotiations. The tenant was represented by Mike Semler from Cushman & Wakefield Indianapolis team as well as Brendan O’Shaughnessy.
A Newmark team led by Jim Postweiler is currently marketing the Lakefront 6 building for sale. “This is one of the most attractive investment opportunities available in the Indianapolis market,” Postweiler said. “The property is in an ideal lakefront location on the Keystone campus, offers a solid amenity package, and is in exceptional condition with recent capital upgrades. Additionally, given the new full-build lease with a strong and respected tenant, we believe that many potential buyers would appreciate the long-term predictable cash flow this investment can provide and are therefore excited to bring Lakefront 6 to market.”
About Rubenstein Partners
Rubenstein Partners, LP founded in September 2005, is a private real estate investment advisory firm that operates in United States. The company is led by its founder, David Rubenstein, and a group of senior real estate executives, and focuses on leading and managing office real estate investments in the United States. Rubenstein Partners’ predecessor company, The Rubenstein Company, LP and its affiliates, founded in 1969, was one of the largest private operators. of Class A office real estate in the Mid-Atlantic, owning and operating a portfolio of assets valued at approximately $1.2 billion at the time of its disposal in 2004. Since 2005, Rubenstein Partners has, on behalf of its investors and clients, invested in more than 22.5 million square feet of office real estate assets across United States. For more information, visit www.rubensteinpartners.com.
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SOURCE Rubenstein Partners