A Hartford-based commercial real estate company has expanded south after purchasing New Haven-based Traub & Co. Colliers Dow & Condon announced last week it acquired the 7-year-old company in order to expand its presence in New Haven County.
“Traub was just a good fit for us,” said Keith Kumnick, managing principal at Colliers Dow & Condon. Kumnick and other members of the firm knew the late founder of Traub & Co. for many years and were looking to expand in southern Connecticut, he noted.
Carl Traub, who was well-known for his civic contributions to the city of New Haven, died in 2003. His widow, Regan MacBain Traub, made the decision to sell the firm.
“Carl Traub had the ability to bring people together and get something done with energy and innovation,” said MacBain Traub, who is president of the New Haven-based human resources firm The HR Consortium, in a prepared statement. “In making the decision to sell Traub & Co., I wanted to be sure I was moving ahead with a firm that shared the same culture and guiding values as Traub & Co., and that would enable the business to grow in good hands.
“Colliers Dow & Condon is a firm with an established reputation in Connecticut. They have the sophistication, level of expertise and ethics to handle both smaller and larger deals with finesse and respect for each individual client, large or small. I feel this decision brings good forces together, and continues Carl Traub’s legacy.”
Colliers Dow & Condon purchased selected assets of Traub & Co. In legal terms, that means Colliers acquired the company but no liabilities that might have been associated with Traub’s offices.
‘A Rare Opportunity’
Traub & Co. specialized in buyer and tenant representation, landlord and seller representation, asset management, consultation and project development, according to its Web site.
Although it was located in New Haven, Traub offered regional coverage. Its database covered Hartford, New Haven, Fairfield and Westchester counties.
Traub’s office has been relocated to the New Haven office of Colliers Dow & Condon at 205 Whitney Ave. John Keogh, who was a senior associate at Traub & Co., joined Colliers’ New Haven office staff.
“This acquisition presents Colliers Dow & Condon a rare opportunity to increase our presence in the New Haven market with even greater depth of services and experience, while at the same time adding an experienced agent, John Keogh, to our team,” Kumnick said in a prepared statement. “We will continue the tradition of service and personal attention that both firms’ clients have come to expect.”
The new affiliation will expand Traub & Co.’s reach, Keogh said.
“Joining forces with a market leader like Colliers Dow & Condon will enable to us to serve our clients even better,” said Keogh in a prepared statement. “This new organization offers us a national affiliation that gives us greater market leverage and increased market opportunities in Connecticut and internationally.”
Colliers has 248 offices in 51 countries. The company has been in business in Connecticut and western Massachusetts since 1941.
