Author Archives: Jeremy Barewin

Bradford Allen Hospitality Acquires Two Hotel Properties on Long Island

Marriott Residence Inn, Hilton Garden Inn located on adjacent sites in Riverhead, N.Y., 20 miles west of the Hamptons

NEW YORK, NY — Bradford Allen Hospitality today announced it has acquired two adjacent hotel properties in Riverhead, N.Y., on Long Island — a 131-suite Residence Inn by Marriott located at 2012 Old Country Road and a 114-key Hilton Garden Inn at 2038 Old Country Road. The hotels are the closest eastbound Hilton- and Marriott-branded properties to the Hamptons, located approximately 20 miles away.

Built in 2017, Residence Inn Long Island East End is highly amenitized with a 24-hour fitness center, indoor and outdoor pools, whirlpools, and expansive wedding and banquet facilities, far exceeding typical Residence Inn brand standards. The Hilton Garden Inn Riverhead, built in 2008, features a patio with whirlpool and fire pit, indoor pool and fitness center. The property is expected to undergo a transformative multimillion-dollar renovation over the next year.

The sale of the properties, by a local developer who was the original owner of both assets, was completed off-market. New Castle Hotels and Resorts will retain management of both hotels.

“While many firms have been sitting on the sidelines waiting to see what happens with interest rates, Bradford Allen is well capitalized and actively seeking out high-quality assets like these for our portfolio,” said Aghfar Arun, director, Bradford Allen Hospitality. “The Riverhead properties offered a unique opportunity with two adjacent core brands from the nation’s top two hoteliers, in a prime, high-density location, with an opportunity to add value through upgrades. As we continue to look at opportunities to expand our hospitality portfolio, we place a premium on similar types of assets that are institutional-quality hotels in experience-driven markets, catering to leisure and business travelers.”

Over the past 18 months, Bradford Allen Hospitality has acquired four hotels totaling nearly 550 keys, tripling its hotel portfolio. In addition to Long Island, the firm currently owns hotel assets in the Glendale Sports and Entertainment District in Glendale, Ariz., a suburb of Phoenix; Rosemont, Ill., in the O’Hare submarket outside Chicago; and Iowa City, Iowa, near the University of Iowa campus.

Launched in 2022, Bradford Allen Hospitality is a specialized hotel ownership platform, investing opportunistically in premium hotel product. It is a wholly owned subsidiary of Chicago-based Bradford Allen, a vertically integrated real estate firm providing end-to-end real estate investment, transaction and management solutions for hospitality, multifamily, commercial office and mixed-use assets across the U.S.

About Bradford Allen:
Bradford Allen (BA) is a commercial real estate and investment services firm based in the heart of downtown Chicago. Founded in 2003 by principals Jeffrey Bernstein and Laurence Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.

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Editors:
For more information, contact Jeremy Barewin, [email protected], (312) 267-4533.

 

Industry Leader Gordon Ogden Named Exec Managing Director

Office market veteran will oversee firm’s New York-based tenant representation practice

NEW YORK CITY, NY — Jeffrey Bernstein and Laurence Elbaum, principals and co-founders of Bradford Allen, a national full-service real estate firm, today announced industry veteran Gordon Ogden has joined the brokerage as executive managing director. In this role, Ogden will lead Bradford Allen’s tenant representation practice in New York.

“Gordon has a proven track record of success across New York’s office sector, where he has negotiated hundreds of deals for top-tier local, national and international companies and corporations that call the city home,” said Elbaum. “Having had the privilege of working alongside him in the 1990s at the Edward S. Gordon Company, I know Gordon to be one of the finest in the business, and I am excited for him to expand our firm’s tenant representation practice across the New York metro region.”

In Manhattan, Ogden has transacted on behalf of firms such as The New York Times, Gannett, Nike and Publicis. His clientele extends to prominent law firms, including WilmerHale and Dewey & LeBoeuf, as well as financial institutions like Warburg Pincus LLC. Additionally, Ogden represented national food hall retailer Urban Space in both office and retail transactions. He has also facilitated major transactions globally, including deals in Tokyo, Sao Paolo, Paris and London.

For more than 26 years, Ogden led Byrnam Wood LLC, the firm he co-founded alongside Joseph Thanhauser in 1997. He previously served as a managing director in the tenant representation division at the Edward S. Gordon Company (ESG) from 1992–1995 and at CBRE from 1995–1997.

Ogden’s philanthropic work has included service on the boards of the Collegiate School, the Boys’ Club of New York and Job Path. He has also chaired the annual fund at Marymount School and served as a member of Episcopal High School’s development committee.

He holds a B.A. in political science from Washington and Lee University and is a member of the Counselors of Real Estate and the Real Estate Board of New York, where he was the recipient of the prestigious Robert T. Lawrence Memorial Award.

Bradford Allen maintains a full-service brokerage platform in both New York and Chicago, where the company is headquartered.

About Bradford Allen:
Bradford Allen (BA) is a commercial real estate firm based in the heart of downtown Chicago. Founded in 2003 by principals Jeffrey Bernstein and Laurence Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company, offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.

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Editors:
For more information, contact Jeremy Barewin, [email protected], (312) 267-4533.

 

Bradford Allen Names Jennifer Murphy as President of Management Services

20-year veteran of property and construction management will oversee firm’s national office portfolio

CHICAGO, IL — Bradford Allen, a national full-service real estate firm, today announced Jennifer Murphy has joined the firm as president of management services. In this role, Murphy will be responsible for managing Bradford Allen’s growing portfolio of office properties in Chicago and nationally. She will report to Brian Dovalovsky, senior managing director of Bradford Allen, and be based in the firm’s downtown Chicago headquarters.

“Jennifer’s appointment is strategically timed with the growth of our national office platform as we continue to acquire, improve and lease up high-quality assets in desirable markets across the country,” said Dovalovsky. “In today’s ever-evolving workplace landscape, she will be instrumental in helping us meet demand for modern, experiential office environments that are highly functional for occupiers and profitable for ownership.”

A 20-year veteran of property and construction management, Murphy has helped launch and reposition large-scale office properties, leveraging state-of-the-art technologies, lifestyle-oriented amenities and best-in-class services to enhance marketability and drive operational performance. She previously spent 16 years at Hines Interests Limited Partnership, most recently serving as senior construction manager for Salesforce Tower Chicago, the 1.2 million-square-foot high-rise at 333 W. Wolf Point Drive in downtown Chicago. In that role, Murphy oversaw the base building construction and managed the construction, FF&E and transition to operations for the tower’s 20,000-square-foot amenity suite, which includes conference facilities, a full-service fitness center, tenant lounges and more.

Prior to her work on Salesforce Tower, she was general manager for 333 W. Wacker Drive (890,000 square feet), which followed successful management roles at 1 S. Dearborn St. (870,000 square feet), 101 N. Wacker Drive (600,000 square feet) and other properties owned by Hines. She also was property operations manager for Northwestern Memorial Hospital.

Murphy holds an MBA with distinction from DePaul University’s Kellstadt Graduate School of Business, with a focus on real estate finance and investment. She earned her bachelor’s degree with honors in civil engineering, with a specialty in structural engineering and a minor in urban and regional planning, from the University of California, Irvine. She is a licensed real estate broker in Illinois and holds an EIT license in California.

About Bradford Allen:
Bradford Allen (BA) is a commercial real estate firm based in the heart of downtown Chicago. Founded in 2003 by principals Jeffrey Bernstein and Laurence Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company, offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.

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Editors:
For more information, contact Jeremy Barewin, [email protected], (312) 267-4533.

 

Bradford Allen Submits Plan for 300-Unit Mixed-Use Development in Arlington Heights, Ill.

Along with new medical office building, project to help revitalize neighborhood with apartments and retail

CHICAGO, IL — The development arm of Bradford Allen, a Chicago-based national real estate investment advisory, has formally submitted plans for a mixed-use development in Arlington Heights, Ill., to village officials. Located just north of Interstate 90, at the southeast corner of Arlington Heights and Algonquin roads, the project comprises 300 apartments and approximately 25,000 square feet of ground-floor retail.

A joint venture between Bradford Allen and Chicago-based Moceri+Roszak, which is also serving as architect, presented the plans to neighbors during a recent community meeting. As proposed, the eight-story development would include a mix of 68 studios, 143 one-bedrooms, 79 two-bedrooms and 10 three-bedrooms, with 55% of units having balconies. Approximately 30 of the units will be designated as affordable housing.

“There is a great opportunity to revitalize this end of Arlington Heights, where there’s high population density and a strong demand for modern rental housing with easy access to nearby retail and entertainment offerings, as well as I-90 and O’Hare International Airport,” said Brian Carley, senior managing director at Bradford Allen. “We have had productive conversations and received positive feedback from village officials to this point and look forward to hearing back on final approval.”

The building is expected to include 17,500 square feet of indoor and outdoor amenities including an outdoor pool and spa with sun deck, fitness area for yoga and other classes, social and media rooms, business center, library, work-from-home conference rooms, golf simulator, dog walk and spa, grill stations and pickleball court. The development will include indoor parking for 484 vehicles as well as 86 outdoor spaces for the retail component. In addition, the project is seeking ENERGY STAR certification for its environmental sustainability.

The proposed mixed-use development is adjacent to the former Daily Herald building, which Bradford Allen is converting into a 150,000-square-foot medical office complex known as ArlingtonMed. Together, the buildings are part of a potential 16-acre master-planned community that includes additional apartment buildings and retail.

Bradford Allen officially kicked off pre-leasing efforts for ArlingtonMed in September. The existing structure is available for tours by appointment and will be fully renovated to Class A medical office standards upon securing an anchor tenant.

“ArlingtonMed represents a unique opportunity for healthcare tenants seeking high accessibility and visibility along the expressway,” said Joel Berger, senior managing director at Bradford Allen and lead leasing agent for the property. “ArlingtonMed also offers large floor plates that give tenants complete control over how their space is designed, maximizing efficiency while improving the patient experience.”

About Bradford Allen:
Bradford Allen (BA) is a commercial real estate firm based in the heart of downtown Chicago. Founded in 2003 by principals Jeffrey Bernstein and Laurence Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company, offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.

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Editors:
For more information, contact Jeremy Barewin, [email protected], (312) 267-4533.

 

Bradford Allen Acquires The Henry in Chicago’s Ravenswood Neighborhood

Mixed-use property completed in 2019 includes Culver’s restaurant and 38 luxury rental apartments

CHICAGO – August 8, 2023 – Bradford Allen Investment Advisors (BAIA) today announced it has closed on the purchase of The Henry, a mixed-use property at 4346 N. Honore St. in Chicago’s Ravenswood neighborhood. The five-story elevator building, completed in 2019 and located just steps away from the Montrose Brown Line CTA stop, includes 38 one- and two-bedroom luxury rental apartments and a ground-level Culver’s restaurant.

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John Butler, executive managing director, and Danielle Morse, senior managing director, negotiated the purchase on behalf of new ownership. The seller of the property was represented by Tyler Hague and Lauren Stoliar of Colliers.

Common resident amenities in the pet-friendly building include an indoor/outdoor rooftop lounge and terrace with built-in grills, a lobby lounge and bike storage room. Individual apartments feature in-unit laundry, custom cabinetry, subway tiling, quartz countertops and walk-in closets. At the time of purchase, the building was 97% occupied. Rents range from $1,751 to $3,000.

“The Henry’s Ravenswood location offers a neighborhood vibe and checks many of the boxes today’s renters desire, including modern amenities and easy access to bars, restaurants, shops and entertainment all located within a mile radius of the building,” said Morse. “We are excited to add this high-quality, newer construction, urban, transit-oriented property to our expanding Chicago-area multifamily portfolio.”


About Bradford Allen Investment Advisors
Founded in 2013, currently with over $4bn in assets under management and over 3 million square feet of real estate, Bradford Allen Investment Advisors (BAIA) is an alternative asset manager specializing in commercial real estate and private placements. A wholly owned subsidiary of Bradford Allen—a vertically integrated real estate firm—BAIA provides end-to-end real estate transaction and management solutions for multifamily, commercial office, and mixed-use development across the US. The firm’s roots are in brokerage and property operations, a lineage that traces back to 2003 when the firm’s principals—Jeffrey Bernstein and Laurence Elbaum—founded Bradford Allen Realty Services.