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One market, one property, and one tenant at a time. The story of our success continues to be written. Catch up on the latest news and information about the award-winning work we’re doing at Bridge.

Bridge Investment Group Snags Alpharetta Office Park for $41 million

ATLANTA (June 10, 2021) – Bridge Investment Group LLC’s (Bridge) subsidiary Bridge Office Fund Manager (Bridge Office) announced today the acquisition of Brookside I and II, a pair of 5-story, Class-A office buildings at 3625 and 3655 Brookside Parkway in Alpharetta, Georgia. The acquisition bolsters the company’s Metro Atlanta footprint to more than 2.95 million square feet across 18 buildings, and coincides with burgeoning demand in suburban office markets as companies put greater emphasis on flexibility, value and closer proximity to the homes of employees.

 

Located off Old Milton Parkway and the Georgia 400 interchange, Brookside I and II are just one mile from Avalon, an 86-acre mixed-use development with more than 500,000 square feet of high-end retail, a full-service hotel, single-family residences and luxury home rentals. More than 10 restaurants lie within a short walk of the property, and the campus is also just a few minutes away from downtown Alpharetta.

 

Developed in 2000, the 19.69-acre office park recently underwent a multi-million dollar renovation to expand tenant amenities, including new lobbies, a tenant lounge, conference center and an upgraded, four-level outdoor terrace. Available office spaces at Brookside range from 1,755 to 27,644 square feet. Bridge’s Director of Leasing Scott Rees and Senior Leasing Associate Trey Weghorst will oversee leasing for the property.

 

“Brookside is surrounded by a bevy of premier shopping, dining and entertainment destinations, helping to fuel favorable conditions for rent growth and long-term asset value in the years ahead as more employers gravitate to North Fulton and other high-growth suburbs,” said Jeff Shaw, CEO of Bridge Commercial Real Estate. “Now more than ever, companies need to know how their physical office space will create tangible value while also being cognizant of evolving desires for where their employees want to live and work. We’re pleased to finalize our acquisition as we continue to create next-generation workplaces that generate meaningful results for our tenants.”

 

This latest purchase marks the company’s third purchase in the suburban North Fulton submarket, which currently includes Royal Centre and The Park at Windward Concourse. According to a recent report from Cushman & Wakefield, suburban office submarkets accounted for more than 80% of all leasing activity in Metro Atlanta in Q1 2021.

 

“Our leasing team looks forward to showing off this property’s versatility to future tenants who are looking for an office park that offers a best-in-class location and Class A tenant amenities,” said Rees. “Brookside has something for everyone, ranging from smaller, move-in ready spec suites to larger options for corporate end users. We anticipate great interest in the project as we move forward with the launch phase of our campaign.”

 

Cushman & Wakefield represented the seller, Equus Capital Partners, in the transaction.

 

Bridge Commercial Real Estate LLC, Bridge’s Office operating company will oversee management of the property. For more information on available space at Brookside Office Park, click here.

 

Bridge also recently launched Abridge, a new flexible-term office program that connects businesses with move-in ready office space more quickly and efficiently without sacrificing their individual brand and workspace. The first phase is underway with a total of 158,000 square feet at six Class-A properties across the country, including 1277 Lenox Park and The Dupree in Atlanta, Georgia; Flagler Station in Miami, Florida; Makers Point in Reston, Virginia; Tower 1320 in Irving, Texas; and West End Office Park in Minneapolis, Minnesota. Additional phases are under design with a target to deliver approximately one million square feet of inventory across Bridge’s national office portfolio.

 

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About Bridge Investment Group (“Bridge”) is a privately-held real estate investment management firm with $26+ billion in assets under management. Bridge combines its 1,650+ person, nationwide operating platform with specialized teams of investment professionals focused on select U.S. real estate verticals, which Bridge believes offer above-market opportunity: multifamily, office, seniors housing, affordable housing, opportunity zones, and fixed income strategies.

About Bridge Commercial Real Estate (“BCRE”) is a fast-rising player in the U.S. commercial office market that specializes in creating desirable, next-generation work spaces. BCRE provides world-class commercial office brokerage services, property management, accounting and commercial construction services for Bridge Office assets. With a proven blueprint that delivers long-term value for tenants and investors, our portfolio includes office properties uniquely positioned in dynamic, high-growth markets across the U.S. and continues to grow. We are laser focused on how companies work today – and will work tomorrow. Headquartered in Atlanta, Georgia and Salt Lake City, Utah, BCRE is a subsidiary of Bridge Investment Group, LLC

Bridge Investment Group Completes Sale of Bridge Crossing in Brentwood, Tennessee

 

ATLANTA (Aug. 2021) – Bridge Commercial Real Estate (Bridge) announced today it has completed the sale of Bridge Crossing, a three-story, 199,194-square-foot Class-A office building at 5301 Maryland Way in Brentwood, Tennessee near Nashville. Located just off Interstate 65 in the Maryland Farms development, Bridge Crossing recently underwent a $3 million dollar renovation plan and is surrounded by several shopping, dining and entertainment destinations.

 

Originally built in 1989, Bridge purchased the asset in January 2018 and subsequently rebranded the building for multi-tenant use with new signage and wayfinding. In order to attract new tenants, Bridge invested $1.8 million into a parking lot expansion, which provided 147 additional parking spaces. The third floor was updated to accelerate leasing activity and enhancements were made to common areas, lobbies and elevators. In line with Bridge’s office strategy, these investments allowed Bridge to secure two major leases which increased the building’s occupancy from 67% to 100%, through May 2026.

 

“The successful disposition of Bridge Crossing reflects our strategy of investing in value-add properties in prime locations and retrofitting them in ways to better serve current and future tenants,” said David McCleve, Director of Office Acquisitions at Bridge Investment Group. “The building’s high-quality capital improvements and convenient access to premier amenities give Bridge Crossing a competitive edge in the booming Nashville office market.”

 

Bridge Crossing’s unique layout and multiple entrances enhance the property’s appeal as a multi-tenant office building, providing further flexibility to its new owner. Notable tenants include information technology and services company Cognizant, and Comdata, a payment processing company which recently expanded its lease to 50,690 square feet on the third floor. Comdata’s lease commenced in Bridge Crossing on June 20, 1996 and this location still remains their headquarters.

 

According to CBRE Nashville’s Office MarketView Q2, the market saw 92,314 square feet of positive total net absorption in Q2 2021, bucking the negative absorption trend for the first time in over a year. Additionally, Nashville’s average asking rental rates are trending upward to $28.80 per square foot while leasing activity is increasing as new leases outpaced renewals in Q2.

 

CBRE Executive Vice President Jay O’Meara represented Bridge in the transaction with buyer, Pacific Oak Capital Advisors.

 

“We are thrilled to add Bridge Crossing to our portfolio and are pleased with Bridge’s successful repositioning plan which makes the property even more attractive to a variety of tenants,” said Jeff Rader, Executive Vice President at Pacific Oak Capital Advisors. “We look forward to building on this property’s positive momentum and furthering our presence in one of America’s fastest growing office markets.”

 

For more information about Bridge Commercial Real Estate, visit bridgecre-office.com.

 

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About Bridge Commercial Real Estate: (“BCRE”) is a fast-rising player in the U.S. commercial office market that specializes in creating desirable, next-generation workspaces. BCRE provides world-class commercial office brokerage services, property management, accounting and commercial construction services for Bridge Office assets. With a proven blueprint that delivers long-term value for tenants and investors, our portfolio includes office properties uniquely positioned in dynamic, high-growth markets across the U.S. and continues to grow. We are laser focused on how companies work today – and will work tomorrow. Headquartered in Atlanta, Georgia and Salt Lake City, Utah, BCRE is a subsidiary of Bridge Investment Group.

 

About Bridge Investment Group: Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $28.7 billion of assets under management as of June 30, 2021. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: multifamily, affordable housing, seniors housing, office, development, logistics net lease, logistics properties, debt strategies and agency mortgage backed securities.

Bridge Investment Group Completes Sale of Suwanee Gateway One in Metro Atlanta

 

 

ATLANTA (Oct. 13, 2021) – Bridge Investment Group’s office subsidiary Bridge Office Fund Manager (Bridge) announced today it has completed the sale of Suwanee Gateway One, a 143,493-square-foot Class A office building in Suwanee, Georgia near Atlanta. Directly adjacent to Interstate 85 and within close proximity to a variety of top shopping, dining and entertainment destinations in one of Atlanta’s fastest growing suburbs, Suwanee Gateway One is the only Class A office property in its respective submarket and continues to attract leading companies from a broad range of industries.

Bridge purchased the property in 2018 and has executed more than 55,000 total square feet of leasing agreements since, while also increasing the building’s occupancy by 37% over an 18-month period. The leasing success stems from a $2.35 million capital improvement plan the former owners recently completed, with renovations including new conference rooms, an upgraded main lobby with new artwork and furniture, improved landscaping, a major parking lot expansion, and the delivery of six move-in ready spec suites featuring flexible floorplans and high-end finishes.

Miles Theodore and Matt Connors of Eastdil Secured represented Bridge in the transaction.

 

“Our comprehensive capital improvement plan at Suwanee Gateway One has provided functionality and flexibility for businesses seeking workplace communities that will foster long-term productivity and growth,” said Matthew Beam, Director of Acquisitions and Asset Management at Bridge. “The recent leasing momentum we’ve seen at the building has created a strong foundation for the new owners thanks to a diverse tenant base that will provide steady cash flow and occupancy in the years ahead. Bridge’s foresight and ability to execute on our plan ultimately resulted in a successful transaction that delivers long-term value for our strategic partners.”

 

Liberty Mutual is the anchor tenant of the building, and recently inked a long-term renewal and expansion agreement totaling more than 70,000 square feet. Other tenants at Suwanee Gateway One include Eastern Corporation and Clark Patterson Engineers.

 

The property is within a five-minute drive of downtown Suwanee’s charming shops and restaurants, and is also one exit away from The Mall of Georgia, the state’s largest shopping mall.

 

According to the latest Q3 office market report from Cushman & Wakefield, Metro Atlanta recorded the highest quarterly leasing demand since Q2 2020, when the leasing total was comprised mostly of deals finalized before the pandemic took hold. Bridge’s Atlanta portfolio features eight properties totaling more than 2.9 million square feet, including the Lenox Park office campus near Buckhead, Embassy Row in Central Perimeter, and Brookside Office Park in Alpharetta. For more information, visit https://bridgecre-office.com/portfolio_category/georgia/.

 
 
 

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About Bridge Investment Group: Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $28.7 billion of assets under management as of June 30, 2021. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: multifamily, affordable housing, seniors housing, office, development, logistics net lease, logistics properties, debt strategies and agency mortgage-backed securities.

Amplifying Black Voices: 5 Takeaways from Bridge’s Black History Month Celebration

Todd Mitchell, Director of Property Management at Bridge Commercial Real Estate, Member of the Diversity and Inclusion Committee and Co-Chair of the Black Inclusion Group

Bridge knows that our firm must be as diverse as the communities in which we operate. We believe that diversity is the foundation of excellence, and achieving excellence is predicated on our ability to recruit, develop, promote and retain people from varied backgrounds, cultures, skills and perspectives.

Over the past year, we have experienced not only a global pandemic, but a racial reckoning as well. As a country, we have experienced much change and loss, which made this year’s Black History Month recognition and celebration more important than ever.

Beginning last year, Bridge Investment Group’s Diversity, Equity and Inclusion (DEI) Committee already started meeting to decide how to honor Black History Month in a meaningful way. During these discussions, Bridge’s Black Inclusion Group was formed with a mission to cultivate a diverse and inclusive work culture for Black employees and provide a platform for these employees to bring awareness to important issues through focused initiatives.

On March 24, the Black Inclusion Group launched its first initiative by hosting a firm-wide session titled “Amplifying Black Voices” with John Hope Bryant, founder, chairman and CEO of Operation HOPE Inc., CEO of Bryant Group Ventures and cofounder of Global Dignity. If you’re not familiar with John, this Wall Street Journal article provides a great overview of his work. He has also served as an advisor to three U.S. presidents and is the author of three bestselling books.

In the session with our team, John spoke to employees and shared his insights on economic, social and racial dynamics in the U.S. as well as strategies for how we can be better allies within our offices, properties and communities across the country.

Here are my five key takeaways:

Assess your biases.

Big picture, John’s comments reminded us of some things we already knew, like how people with ethnic-sounding names are 50% less likely to be called back for a job, according to the National Bureau of Economic Research.

Still, the conversation provided encouragement for a new round of self reflection on how we can look inward and assess our own implicit biases. Although sometimes inadvertent, these biases can deeply affect how we interact with our colleagues.  Bridge is actively scheduling training sessions that will allow team members to learn more about unconscious biases.

Adopt more diverse hiring practices.

In order to attract and hire for more diverse talent, companies must first source candidates for job openings in a manner that ensures a diverse slate. Simply put, companies need to cast a wider net to ensure that underrepresented communities are considered for needed services.

I’m very much reminded of former Mayor of Atlanta, Maynard Jackson — the city’s first Black Mayor of any major city in the South — who sponsored programs that ensured minority contractors were included in city-initiated requests for proposals. In addition, Bridge has initiated conversations with several historically black colleges and universities (HBCUs), to explore ways in which the institutions and Bridge can work to increase minority participation in the commercial real estate industry.

Act as an advocate for diverse colleagues.

While one-on-one mentorship focuses on an individual’s skill development, advocacy and sponsorship takes this to the next level by assisting with career vision and advancement. A sponsor champions for diverse employees by actively promoting them to others, and rebuffs criticisms as appropriate.

Hold relational capital to the highest standard.

To create a more inclusive working environment, relational capital should be taken as seriously as financial capital. A company can only thrive when all employees know and feel that their contributions are valued and their personal ideas encouraged. A company must hold their intangible, relational assets to the same standard as its tangible businesses processes and standards.

Expand the leadership team to include diversity officers.

Moving forward, we will need to dedicate more resources to implement and drive initiatives in a way that volunteer committees alone can no longer support. This includes expanding our teams to include employees dedicated full-time to advancing diversity initiatives.

As part of our commitment to diversity, Bridge Investment Group is continuing to work diligently to create more inclusive spaces within our company, regardless of race, gender or other cultural identities. In addition to the Black Inclusion Group, we have made strides through the Bridge Women’s Network, LGBTQ+ Allyship Program, and the recently launched Asian American, Pacific Islander (AAPI) employee resource group. We are also preparing to launch additional resource groups throughout 2021 and beyond.

For more information about Bridge’s Diversity, Equity and Inclusion Committee, please visit www.bridgeig.com/diversity-equity-inclusion.

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