Bridge Investment Group LLC Launching Abridge Flex Office Program in Five US Markets
ATLANTA, May 11, 2021 /PRNewswire/ -- Bridge Investment Group LLC's (Bridge) commercial brokerage subsidiary Bridge Commercial Real Estate (BCRE) announced today the launch of new flexible-term office offering, Abridge, to connect businesses with move-in-ready office space more quickly and much more efficiently without sacrificing the independence of their brand and workspace. With space available these days for move-ins beginning in June 2021, the initial phase is underway with a complete of 158,000 square feet at six Class A office properties in five high-growth suburban markets in the united states, where there's limited existing inventory for flexible work place. These properties include: 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.
Courtesy: Bridge Investment Group
"We're directly responding to tenant demand for flexible office spaces in prime, suburban, high-growth markets, especially with companies seeking to rebalance their property portfolios upon reoccupancy. The Abridge offering is really a perfect solution for quick move-in with brand preservation," said Jeff Shaw, CEO of Bridge Commercial Real Estate. "Coupled with Bridge's traditional lease offerings and market-leading amenities, our Abridge program allows organizations to possess another option which can be tailored to meet up the evolving employee desires, as a way to promote recruiting and retention, while solving for fluctuating or unpredictable headcount projections and organizational goals, without the logistical and managerial hassles ? and all under the trusted national Bridge name and standards."
https://flipboard.com/@fangmarble54 seeks to eliminate the operational hurdles of third-party flexible office companies by partnering directly with tenants. Private suites accommodate 12 desks to up to 246 desks using the location.
The floorplans are designed around a common amenities "hub" with reservable conference rooms outfitted with the latest technology, social spaces and lounge areas, and a kitchen with premium beverage service. Additional amenities include high-speed internet and robust security options, cleaning services and design services, plus usage of the full building amenities at the location.
Curated by award-winning Bridge Commercial Real Estate Design Manager Tamala Herd, Abridge offers companies the ability to configure their space without the need to bring in an architect. Sophisticated, customizable furniture packages, layout options, opportunities for branding and an end-to-end solution powered by technology allow companies to move in within 1 month from signing the lease.
In accordance with Colliers International's Flexible Workspace Report, overall demand for flexible office space could double or triple over the next five years, with surging corporate demand for flex space in secondary suburban markets creating new opportunities for traditional office landlords and niche operators. But there is currently a substantial supply deficit in many of those suburban markets, one reason Colliers predicts that 2021 is definitely the year flex work place increases dramatically.
The launch of Abridge also finds a period when secondary suburban office properties continue to show great strength. According to Newmark's Q4 2020 Capital Markets Report, demand for office product has shifted and only suburban real estate before five years. Additionally, investment volume increased by 90.2% quarter-over-quarter in the fourth quarter, as CBDs in non-major markets and suburban product outside of major markets attracted a large share of investment. By December 2020, suburban office also exceeded pre-pandemic monthly pricing, reflecting pent-up investor demand and strong fundamentals.
"As leasing activity continues to crank up, we believe this offering will create meaningful solutions for businesses by developing a bridge that allows employees to work better in an extremely curated, flexible office space," said Kevin Lott, managing director of national leasing at Bridge Commercial Real Estate. "Abridge represents a green shoot in the post-COVID office market, and will allow organizations to be positioned for success and remain agile in the evolving workplace."
To learn more about Abridge, visit abridgeoffice.com. To learn more about Bridge Commercial Real Estate, visit bridgecre-office.com.
About Bridge Investment GroupBridge Investment Group ("Bridge") is really a privately-held real estate investment management firm with $25+ billion in assets under management. Bridge combines its 4,200+ 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 PROPERTY Bridge Commercial PROPERTY ("BCRE"), a subsidiary of Bridge Investment Group, LLC, provides world-class commercial office brokerage services, property management, accounting and commercial construction services for Bridge Office assets exceeding 12.3 million square feet. 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 over the U.S. that continue to grow. We are laser centered on how companies work today. BCRE is an established player in america commercial office market that specializes in creating next-generation work spaces, building environments, amenities, and bespoke enterprise along with other flexible office options.
Media Contact:Colleen McNallyThe Wilbert [email protected]
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