INDIANAPOLIS, Jan. 24, 2022 /PRNewswire/ — Rubenstein Partners, L.P. (including its affiliates, "Rubenstein"), a vertically integrated real estate investment adviser focused on value-added office property equity and debt opportunities, announced a new full-building, seven-year lease 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 featuring 15 buildings and more than one million square feet of space surrounding a 38-acre lake.
Raytheon Intelligence & Space is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. The Lakefront 6 four-story building lease will support work on the development of advanced sensors, cyber and software solutions.
Rubenstein and Strategic Capital Partners acquired Lakefront at Keystone in 2017 and embarked on a multimillion-dollar capital improvement plan to make the office park the most desirable in suburban Indianapolis. The repositioned development features new indoor and outdoor amenities including:
- The Anchor, a new indoor amenity center, which includes a state-of-the-art fitness center, tenant lounge, full-service café, conference facilities and the property management office.
- The Harbor, a floating barge which takes full advantage of the office park’s lake to create an entertainment venue.
- The Boardwalk waterfront plaza, basketball court, workout circuit, bike path, food truck depot and seating areas.
- The Landing, a lakeside outdoor retreat area with casual seating, fire pits and interactive games for lunch breaks, team building and after hours meet-ups.
"We are pleased to announce a long-term deal with technology and innovation leader Raytheon Intelligence & Space to serve as the full-building occupant for the Lakefront 6 property. With this lease Raytheon Intelligence & Space is making a large investment in Central Indiana and we are proud to be a part of that as well," notes Brian Simel with Rubenstein. "Our ownership group has already made massive investments to enhance the Lakefront campus, and we are not slowing down because these amenities and the fresh energy of the campus have been a big part of driving a lot of recent success we have been seeing in terms of leasing and tenant retention. As we look to the future, our goal is to continue to add even more amenities and make Lakefront at Keystone the most dynamic, live-work-play community in the region."
The Lakefront at Keystone property has enjoyed substantial leasing activity over the past couple of years with high-profile 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 in proximity to Carmel, consistently ranked as one of the top places to live in the United States. Additionally, the office park is surrounded by numerous restaurants, hotels and entertainment venues and near the Fashion Mall at Keystone.
A JLL team led by Tammy Faulk and John Robinson represented the landlord in the negotiations. The tenant was represented by Mike Semler from Cushman & Wakefield’s 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 represents one of the most attractive investment opportunities available in the Indianapolis market," said Postweiler. "The property is in an ideal location within the Lakefront at Keystone campus, offers a strong amenity package and is in exceptional condition through the recent capital improvements. Additionally, given the new full-building lease with a strong, well-respected tenant, we feel there are many prospective buyers who would appreciate the predictable long-term cash flow this investment can offer and so are pleased to bring Lakefront 6 to market."
About Rubenstein Partners
Rubenstein Partners, L.P. founded in September 2005, is a private real estate investment advisory firm with operations throughout the United States. The firm is led by its founder, David Rubenstein, and a group of senior real estate executives, and is focused on directing and managing office real estate investments in the U.S. Rubenstein Partners’ predecessor company, The Rubenstein Company, LP and affiliates, founded in 1969, was one of the largest private owner 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 disposition 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 throughout the United States. For more information, visit www.rubensteinpartners.com.
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SOURCE Rubenstein Partners
