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Treetop Development Acquires Bristol Industrial Facility for $79M
Treetop Development has paid $79.3 million for Bristol Logistics Center, a 1.1 million-square-foot industrial building in Bristol, CT.
Jeff Fishman, Cory Gubner and Alex Haendler of Newmark represented the seller, Bristol Center, LLC, in the transaction.
“This sale demonstrates the continued strength of the industrial sector,” said Fishman. “Despite any potential headwinds, these types of logistics assets continue to be an integral part of business and, as such, will drive strong returns for owners.”
The property, the site of a former General Motors manufacturing plant, is currently 93% leased and provides manufacturing, warehouse and distribution space for its three tenants: Firestone, Clark Dietrich and Arett Sales. The property is situated on 179 acres at 780 James P Casey Road in Bristol, with easy access to US Highway 6 and a short drive to Interstate 84. Bristol Logistics Center also benefits from unique rail access directly into the building.
- ◦Sale/Acquisition
