{"id":1004626173,"date":"2022-11-11T06:32:26","date_gmt":"2022-11-11T14:32:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004626173"},"modified":"2022-12-08T21:39:32","modified_gmt":"2022-12-09T05:39:32","slug":"bradford-allen-acquires-connecticut-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bradford-allen-acquires-connecticut-office-portfolio\/","title":{"rendered":"Bradford Allen Acquires Connecticut Office Portfolio"},"content":{"rendered":"
\"1<\/a>

1 Lafayette & 1 E. Putnam. Image courtesy of CBRE<\/p><\/div>\n

Bradford Allen Investment Advisors, <\/strong>a subsidiary of Chicago-based Bradford Allen<\/strong>, has acquired a two-building, Class A office portfolio in Greenwich, Conn. A joint venture between Global Gate Capital<\/strong> and Lincoln Property Co. <\/strong>sold 1 Lafayette Place and 1 E. Putnam Ave. CBRE<\/strong> brokered the transaction.<\/p>\n

The transaction marks the buyer’s first New York-area acquisition. In September, Bradford Allen expanded its office footprint with the purchase of 701 San Marco, a 19-story Class A office tower<\/a> in Jacksonville, Fla.<\/p>\n

A Class A office portfolio<\/h2>\n

CommercialEdge data shows that the portfolio previously changed hands in 2019 for $57.5 million. The fully leased assets, totaling 90,268 square feet, are part of the Greenwich CBD, featuring an array of dining and retail amenities.<\/p>\n

In a prepared statement, Dunne mentioned that the pair of buildings and its institutional-quality tenants provide a robust NOI<\/a> for the new owner. With existing rents in the portfolio currently 15 percent below market value, Bradford Allen is planning to grow rents in future years, he added.<\/p>\n

CBRE Vice Chairman Jeffrey Dunne, Senior Vice President Steven Bardsley and Senior Financial Analyst Travis Langer represented the seller and procured the buyer.<\/p>\n

According to a Cushman & Wakefield<\/strong> report, the Greenwich CBD submarket witnessed an increase of office leases in the last two years, lowering its vacancy to 5.8 percent\u2014outperforming all other Fairfield County submarkets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction marks the company\u2019s first New York-area purchase. <\/p>\n","protected":false},"author":3030,"featured_media":1004626175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,10,21747],"tags":[51674,32789,32799,34930],"class_list":["post-1004626173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-northeast","category-office","tag-bradford-allen-investment-advisors","tag-cbre","tag-cushman-wakefield","tag-lincoln-property-co"],"acf":[],"yoast_head":"\nBradford Allen Acquires Connecticut Office Portfolio - CPE<\/title>\n<meta name=\"description\" content=\"Bradford Allen Investment Advisors has acquired a two-building Class A office portfolio in Greenwich, Conn.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bradford-allen-acquires-connecticut-office-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bradford Allen Acquires Connecticut Office Portfolio\" \/>\n<meta property=\"og:description\" content=\"Bradford Allen Investment Advisors has acquired a two-building Class A office portfolio in Greenwich, Conn.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bradford-allen-acquires-connecticut-office-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-11T14:32:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:39:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/Photo-1-Lafayette-1-East-Putnam.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bradford-allen-acquires-connecticut-office-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bradford-allen-acquires-connecticut-office-portfolio\\\/\"},\"author\":{\"name\":\"Raluca Toma\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1e908d9381f3929d1d57f95e4db8c529\"},\"headline\":\"Bradford Allen Acquires Connecticut Office Portfolio\",\"datePublished\":\"2022-11-11T14:32:26+00:00\",\"dateModified\":\"2022-12-09T05:39:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bradford-allen-acquires-connecticut-office-portfolio\\\/\"},\"wordCount\":237,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bradford-allen-acquires-connecticut-office-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/11\\\/Photo-1-Lafayette-1-East-Putnam.jpg\",\"keywords\":[\"Bradford Allen Investment Advisors\",\"CBRE\",\"Cushman & Wakefield\",\"Lincoln Property Co.\"],\"articleSection\":[\"Investment\",\"News\",\"Northeast\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bradford-allen-acquires-connecticut-office-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bradford-allen-acquires-connecticut-office-portfolio\\\/\",\"name\":\"Bradford Allen Acquires Connecticut Office Portfolio - 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