Blue Diamond Industries is the first office tenant to join Lexington’s top mixed-use destination
LEXINGTON, Ky. (March 29, 2018) – NAI Isaac, the full-service commercial real estate brokerage firm handling office leasing for The Summit at Fritz Farm, announced today that Blue Diamond Industries and Hexatronic Group have officially signed a lease to occupy a 5,497-square-foot space at the mixed-use development. The U.S.-based conduit manufacturer recently acquired by Hexatronic Group of Sweden is the first to ink a deal at The Offices at Fritz Farm. Construction is underway on the interior fit up and they plan to move into the building in May 2018.
“The Offices at Fritz Farm are surrounded by Lexington’s best shopping, dining, entertainment and luxury living destinations, making the office space a perfect place to attract and retain top talent,” said Paul Ray Smith, executive vice president at NAI Isaac. “Coming off the heels of another successful year for commercial real estate in Lexington, the city is thriving and demand for office space is steadily increasing. The signing of Blue Diamond Industries has set a tremendous tone for the development and we are eager to continue bringing top businesses to The Offices at Fritz Farm.”
Blue Diamond Industries manufactures High Density Polyethylene (HDPE) conduit used in the telecommunications and power markets. Headquartered in Lexington with a modern production plant in Middlesboro, the company currently consists of 85 employees and generated revenues in excess of $30 million in 2017.
According to a recent study conducted by the Fayette County property valuation administrator, commercial property sales volumes for 2017 exceeded the average yearly volume for the previous five-year period across multiple sectors, including office. The Summit at Fritz Farm has brought more than 40 new businesses to the market since its grand opening in April 2017.
Demand for existing office space in the area has been resilient and is expected to increase over the coming months as more companies relocate to Lexington. The Summit at Fritz Farm’s workspace offerings were created to satisfy the pent-up demand for an urban-inspired environment. The Offices at Fritz Farm include 44,000 square feet of modern, build-to-suit office space spanning two floors in the CoreLife Eatery and Babalu Tapas & Tacos building.
“Due to the recent acquisition of Blue Diamond Industries by Hexatronic Group, our corporate footprint has expanded and we are excited to relocate to a larger space amongst the eclectic mix of tenants at The Summit at Fritz Farm,” said Sherri Simpson, CEO of Blue Diamond Industries. “The new mixed-use destination offers an exciting twist on traditional office space and will provide our employees with an innovative work environment. Access to unique amenities like fitness, dining and shopping will benefit our team by giving them an opportunity to recharge during the work day.”
The Offices at Fritz Farm offer superior access to a variety of amenities including chef-driven dining concepts, upscale shopping destinations and outdoor spaces. The Class A offices provide tenants access to free, private employee parking, and high-end office finishes with fiber optic access. The office spaces available at the building range from 2,000 square feet to 22,000 square feet.
“Young professionals are seeking modern offices that inspire creativity and are surrounded by walkable amenities, restaurants and interactive experiences,” said Ben Martin, general manager for The Summit at Fritz Farm. “Our office spaces are gaining momentum in the market and the workforce is recognizing the benefit of the lifestyle offices available at The Summit at Fritz Farm. We are excited to see what other companies join Blue Diamond Industries, LLC, and look forward to the economic impact of increased traffic for our retailers and restaurants.”
If you are interested in learning more about the available spaces within The Offices at Fritz Farm, visit http://properties.naiisaac.com/TheOfficesAtFritzFarm. For more information about The Summit at Fritz Farm, follow the property on Instagram and Facebook, or visit thesummitatfritzfarm.com.
About The Summit at Fritz Farm:The Summit at Fritz Farm is a $165 million mixed-use development located in Lexington, Kentucky, at the crossroads of Nicholasville Road and Man ‘O War Boulevard. The property includes 300,000 square feet of retail and restaurants, 306 luxury apartments, 44,000 square feet of modern build-to-suit office space, a 120-key boutique hotel, and a community green space for mingling and gathering. This regional shopping destination offers a collection of 60 best-in-class restaurants and retailers, including local favorites like Morton James, and first-to-market brands such as Warby Parker, Bonobos, Shake Shack, CosBar, Kendra Scott, Madewell and Fabletics, among others. The Summit at Fritz Farm is also home to Honeywood, a new concept from six-time James Beard Award nominee Ouita Michel, as well as The Barn, the first food hall in the region which showcases an exciting collection of dining concepts from an array of accomplished local restaurateurs and serves as a tribute to Kentucky products and culinary traditions. For more information and happenings, follow The Summit at Fritz Farm on Instagram or visit thesummitatfritzfarm.com.
About Bayer Properties:
Birmingham, Alabama-based Bayer Properties LLC specializes in developing, leasing, managing and marketing mixed-use real estate properties nationwide. Bayer Properties currently owns and/or operates retail and office properties totaling approximately 10 million square feet, including The Summit in Birmingham, Alabama, Mount Pleasant Towne Centre in Mount Pleasant, South Carolina, The Summit in Reno, Nevada, and The Summit at Fritz Farm in Lexington, Kentucky. For more information, visit bayerproperties.com.
About NAI Isaac:
NAI Isaac Commercial Properties is a Lexington, Kentucky-based firm providing a full range of commercial real estate services to clients throughout Central Kentucky. NAI Isaac professionals are relationship-oriented, performance-driven and service-focused. Our satisfied clients include developers, private investors, corporations, institutions, non-profits, and REITs. We maintain long-term client relationships through unequaled skill, knowledge and dedication.
NAI experts offer a range of expertise that allow us to successfully address any real estate opportunity or challenge. Our experience brokerage team specializes in commercial leasing, acquisition or disposition of commercial properties (retail, office industrial, and mixed-use), and investment and development opportunities. NAI Isaac also offers comprehensive property management, operations management, asset improvement projects, maintenance and upkeep, rent collections, receivership, and REO dispositions.