Fairbridge Properties, a privately held real estate investment company, announced today that the Utah State Office of Rehabilitation has
renewed its lease at the Price Human Services Building, located at 475 West Price River Drive in Price, Utah. The renewed lease covers a
five-year period.
The multi-tenant office building is fully occupied by the State of Utah and currently houses three different agencies including the Department of
Human Services, the Department of Workforce Services and the Department of Rehabilitation Services. Since purchasing the building in 2013,
Fairbridge has been committed to actively maintaining and continually improving the building. Its latest project will be the installation of a 21,622-
square-foot, state-of-the-art, TPO 60 mil roofing system, which is scheduled to take place this fall.
“Fairbridge Properties is always looking for opportunities to increase value for our investors, and tenant retention is an important part of the
equation,” said Dr. Dmitry Gordeev, Fairbridge Properties’ founder and managing partner. “We find that reinvesting capital into our properties is
one of the best ways to enhance the tenant experience so that agencies like the Department of Rehabilitation Services will want to remain with us
for the long term.”
Situated on 3.1 acres, the 38,129-square-foot Price Human Services Building is located in Price, Utah, the county seat and largest city of Carbon
County. The immediate area is home to several state and federal agencies, as well as retail developments and outdoor recreational areas. Price
is also the home of Utah State University Eastern.
“Every investment decision we make involves extensive analysis of the building itself and its surrounding market,” Gordeev said. “Due to Price’s
high levels of government and commercial activity along with its proximity to the freeway, the city is a desirable location for both employees and
employers, as evidenced by its low vacancy rates.”
About Fairbridge
Fairbridge Properties was founded in 2012 by Dr. Dmitry Gordeev. Headquartered in Princeton, N.J., Fairbridge acquires, develops and manages
commercial properties in the asset range of 10 to 45 million dollars.
Fairbridge is well-known for its in-house asset management expertise and responsiveness to investors’ needs. The company holds a superior
track record in acquiring premium central business district (CBD) office buildings, suburban office centers and flex/R&D projects. The tenants in
these buildings are primarily Fortune 500 companies.
Fairbridge’s main goal is to generate, maximize and preserve value for its investors. With this goal in mind, Fairbridge is cost-effective and agile in
order to take advantage of marketplace opportunities within a short response time. The company is strategically positioned to purchase properties
in stable yet growing markets with tenants who possess top credit ratings. Through skillful property oversight, pragmatic financial management,
and abundant access to capital, the company has consistently maximized profitability for its investors. For more information, visit
www.fairbridgeproperties.com.