Barnard Lane Portfolio

Investment Overview

Goman+York Property Advisors is pleased to present the Barnard Lane Medical Office Portfolio, comprising 705 Bloomfield Avenue and 1 Barnard Lane—a fully occupied, 19,633 SF medical and professional office portfolio in Bloomfield, Connecticut. The assets generated approximately $434,435 in annual gross income in 2025 and are projected to generate an NOI of ~$236,196 in 2027, supported by a long‑standing medical tenant base with tenures ranging from 4 to 22 years and an average of 9.1 years. Durable healthcare uses, below‑market rents, and clear near‑term mark‑to‑market potential further position the portfolio as a compelling, income‑producing investment with meaningful upside. Together, 705 Bloomfield Avenue and 1 Barnard Lane represent a stable, healthcare‑oriented investment with embedded upside, characterized by 100% occupancy, an 85% medical tenant mix, resilient construction, and a clear trajectory for NOI growth through rent re‑setting. The offering is ideally suited for private investors, and capital groups seeking dependable cash flow backed by long‑term medical tenancy and future appreciation potential. The Barnard Portfolio has benefited from Long‑term, stable ownership for the past 29 years, providing exceptional continuity and stewardship. The properties Weighted Average Lease Term (WALT) is roughly 3.5 years as of April 2026, driven by recent renewals and staggered expirations extending through 2031. This lease profile provides both income stability and near‑term mark‑to‑market potential as legacy tenants—many in occupancy for more than a decade—roll to current medical office rent levels. In‑place rents ranging from $19.50 to $23.50 per square foot remain below prevailing market rates, offering a clear path to organic revenue growth without requiring significant capital investment. Several tenants hold contractual renewal options, and scheduled rent adjustments—including increases effective in late 2026—further enhance near‑term income performance. Constructed with durable brick façades and configured with medical buildouts—including exam rooms, reception areas, and clinical support spaces—the buildings are purpose‑built for healthcare users and minimize downtime during tenant transitions. Both properties have also benefited from comprehensive gut renovation —One Barnard in 2004 and 705 Bloomfield in 2014 and 2021—which included new HVAC systems, elevators, windows, and other major upgrades that enhance long‑term performance and tenant appeal. The sites offer ample on‑site parking, strong visibility, and convenient access to surrounding residential neighborhoods and complementary commercial uses, reinforcing their position as a stable suburban medical office destination. With 100% occupancy, an 85% medical tenant mix, and embedded rent‑reset opportunities, the portfolio delivers durable cash flow and future appreciation potential for private investors, owner‑users, and healthcare‑focused capital groups.

Investment Highlights

• Long‑term, stable ownership: The property has been held by the same owner for 29 years, providing exceptional continuity and stewardship.
• 100% Occupied Medical Office Investment
• Two well‑located commercial buildings totaling approximately 19,633 SF, plus 9,333 SF of basement space, fully leased to a diverse tenant base.
• Medical‑Focused Tenancy (≈85%) with an average tenure of 9.1 years
• Majority of tenants consist of physician practices and healthcare providers, offering needs‑based, recession‑resistant occupancy.
• Strong In‑Place Cash Flow
• Combined projected 2027 Net Operating Income of approximately $236,196, supported by an established. operating history and approx. $4,000 in rent bumps in 2026/2027
• ~3.5‑year WALT as of April 22, 2026, with staggered lease expirations through 2031, limiting rollover risk while preserving flexibility.
• Below‑Market Rents Provide Future Upside: Several in‑place leases, particularly long‑term medical tenants, are below prevailing market rental rates, creating meaningful organic NOI growth potential upon rollover or renewal.
• Traditional commercial construction with brick façades, well‑suited for long‑term medical and professional office use.
• Suites configured with exam rooms, reception areas, consultation offices, and support spaces, reducing downtime and re‑tenanting costs.
• Convenient and ample (6.6/100 ratio) parking and efficient ingress/egress support patient traffic and staff operations.
• Strategic Bloomfield Avenue Location
• Positioned along a primary commercial corridor with strong visibility, surrounding residential density, and complementary medical uses.
• Resilient Suburban Healthcare Asset
• Ideal for investors seeking stable income, downside protection, and long‑term rent growth in the suburban Greater Hartford market.