Jeffrey Dunne, Steven Bardsley and Travis Langer of CBRE’s Institutional Properties represented a joint venture between Global Gate Capital and Lincoln Property Company in the sale of 1 Lafayette Pl. and 1 E. Putnam Ave. in Greenwich, CT. CBRE also procured the buyer, Bradford Allen Investment Advisors, in its first New York metro area acquisition.
The two-building Class A office portfolio totaling 90,268 square feet is 100% leased, providing stable cash flow. Situated in the heart of the Greenwich CBD and adjacent to the prestigious Greenwich Avenue, the location offers abundant tenant amenities including upscale dining and world-renowned retail.
Dunne said, “1 Lafayette and 1 East Putnam provide a strong in place NOI, with institutional quality tenants in the strongest CBD market in the United States. With existing rents in the portfolio currently being 15% below market, Bradford Allen has added upside to grow rents in future years.”
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