Ivy Realty

CB Richard Ellis’ New York Tri-State Region Institutional Group Brokers The Sale of One Atlantic Street to Seaboard Properties

Jeffrey Dunne, Steven Bardsley and Christopher Leonard of CB Richard Ellis’ New York Tri-State Region Institutional Group represented One Atlantic Street Associates, L.P. and Richmond Avenue Associates, LLC, entities controlled by Ivy Realty, in the sale of One Atlantic Street in Stamford, Connecticut. The team was also responsible for procuring the buyer, an affiliate of Seaboard Properties.

One Atlantic Street is a landmark eight-story, 81,491 SF office/retail property situated at the “Main and Main” corner in Stamford. The striking red-brick/white marble building, listed in the U.S. Historic register, was for many years the tallest building in Stamford. With its classic interior, high visibility and prime central CBD location at the corner of Atlantic and Broad Streets, the Property enjoys a broad and diverse tenant appeal with a mix of retail banking and office tenants. The strategically located property is adjacent to much of the City’s newest developments, including the new Marriott Courtyard and Target/Citibank retail center, and across the street from the City’s long-time office/public centers, including the Ferguson Library, Landmark Square and Stamford Town Center.

Jeff Dunne had the following comments on the sale: “One Atlantic Street is one of Stamford’s most historic and best-located assets. Seaboard stands to fare well from the Property’s flexible floorplates, stable retail income and diversified office income that is poised to benefit from the rent spikes currently being experienced in Stamford.”

The CB Richard Ellis New York Tri-State Region Institutional Group (the “Group”) specializes in the sale of investment properties in the suburban markets surrounding New York City as well as select regional markets throughout the country. The Group closed in excess of $4.9 billion since 2005. Recent sales include 55 Railroad Avenue in Greenwich, CT ($142.5 million); Edgewater Commons in Edgewater, NJ ($134 million); the Seaboard Portfolio in Stamford, CT ($121 million); Franklin Avenue Plaza in Garden City, NY ($98.7 million); State House Square in Hartford, CT ($97.8 million); the Baltimore CBD Portfolio in Baltimore, MD ($78.9 million); Dixon Mills Apartments in Jersey City, NJ ($78.5 million); 60 Charles Lindbergh Boulevard in Uniondale, NY ($62 million); Spring Valley Marketplace in Spring Valley, NY ($58.5 million); and 25 A&B Vreeland Road in Florham Park, NJ ($33.7 million).

The Group also has a number of attractive investment opportunities currently on the market including: the Western Nassau Portfolio, a 241,282± SF eight-building portfolio in Garden City and Roslyn Heights, NY; 2 Cranberry Road, a 203,871± SF flex building in Parsippany, NJ; Morris Business Campus, a three-building 331,425± SF office park in Morris Plains, NJ; Jefferson Plaza, a 172,359 SF two-building office complex building in Whippany, NJ; and One Old Country Road, a 315,750 SF± office building in Carle Place, NY.




			CB Richard Ellis’ New York Tri-State Region Institutional Group Brokers The Sale of One Atlantic Street to Seaboard Properties Jeffrey Dunne, Steven Bardsley and Christopher Leonard of CB Richard Ellis’ New York Tri-State Region Institutional Group represented One Atlantic Street Associates, L.P. and Richmond Avenue Associates, LLC, entities controlled by Ivy Realty, in the sale of One Atlantic Street in Stamford, Connecticut. The team was also responsible for procuring the buyer, an affiliate of Seaboard Properties. One Atlantic Street is a landmark eight-story, 81,491 SF office/retail property situated at the “Main and Main” corner in Stamford. The striking red-brick/white marble building, listed in the U.S. Historic register, was for many years the tallest building in Stamford. With its classic interior, high visibility and prime central CBD location at the corner of Atlantic and Broad Streets, the Property enjoys a broad and diverse tenant appeal with a mix of retail banking and office tenants. The strategically located property is adjacent to much of the City’s newest developments, including the new Marriott Courtyard and Target/Citibank retail center, and across the street from the City’s long-time office/public centers, including the Ferguson Library, Landmark Square and Stamford Town Center. Jeff Dunne had the following comments on the sale: “One Atlantic Street is one of Stamford’s most historic and best-located assets. Seaboard stands to fare well from the Property’s flexible floorplates, stable retail income and diversified office income that is poised to benefit from the rent spikes currently being experienced in Stamford.” The CB Richard Ellis New York Tri-State Region Institutional Group (the “Group”) specializes in the sale of investment properties in the suburban markets surrounding New York City as well as select regional markets throughout the country. The Group closed in excess of $4.9 billion since 2005. Recent sales include 55 Railroad Avenue in Greenwich, CT ($142.5 million); Edgewater Commons in Edgewater, NJ ($134 million); the Seaboard Portfolio in Stamford, CT ($121 million); Franklin Avenue Plaza in Garden City, NY ($98.7 million); State House Square in Hartford, CT ($97.8 million); the Baltimore CBD Portfolio in Baltimore, MD ($78.9 million); Dixon Mills Apartments in Jersey City, NJ ($78.5 million); 60 Charles Lindbergh Boulevard in Uniondale, NY ($62 million); Spring Valley Marketplace in Spring Valley, NY ($58.5 million); and 25 A&B Vreeland Road in Florham Park, NJ ($33.7 million). The Group also has a number of attractive investment opportunities currently on the market including: the Western Nassau Portfolio, a 241,282± SF eight-building portfolio in Garden City and Roslyn Heights, NY; 2 Cranberry Road, a 203,871± SF flex building in Parsippany, NJ; Morris Business Campus, a three-building 331,425± SF office park in Morris Plains, NJ; Jefferson Plaza, a 172,359 SF two-building office complex building in Whippany, NJ; and One Old Country Road, a 315,750 SF± office building in Carle Place, NY.
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