Robert K. Futterman & Associates Announces Record Sale
03/04/2008
03/04/2008
RKF brokers sale of Bristol Business Center for $60.5 million
NEW YORK — Robert K. Futterman & Associates, LLC (RKF), the nation’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services announces the sale of the 1.2-million-square-foot Bristol Business Center, an industrial/warehouse/distribution complex in Bristol, Connecticut, for $60.5 million.
Senior Vice Presidents Jeffrey Fishman and Ariel Schuster of Robert K. Futterman & Associates brokered the transaction on behalf of a joint venture of Savanna Investment Management LLC and Hudson Realty Capital.
“Bristol Business Center presented the buyer with the opportunity to purchase an institutional quality manufacturing and warehouse/distribution facility with quality tenants for $50 per square foot with rents at approximately 20% below market with a capacity to add an additional 200,000 square feet. The property has 28-30-foot ceilings and rail spurs directly into the building,” said Fishman.
Located at 780 James P. Casey Road, the 182-acre complex is formerly a General Motors manufacturing plant, which was vacated in the mid-1990s. Firestone Building Products Co., Arett Sales and Clark Steel are the property’s main tenants.
RKF Investment Sales and Advisory Services specializes in developing and executing investment strategies for buyers and sellers of all types of retail driven assets. The firm is fast emerging as a leader in all aspects of investment sales in New York City as well as nationwide.
About Robert K. Futterman & Associates
The country’s leading independent real estate firm specializing in retail leasing and investment sales, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $9 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the US for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
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NEW YORK — Robert K. Futterman & Associates, LLC (RKF), the nation’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services announces the sale of the 1.2-million-square-foot Bristol Business Center, an industrial/warehouse/distribution complex in Bristol, Connecticut, for $60.5 million.
Senior Vice Presidents Jeffrey Fishman and Ariel Schuster of Robert K. Futterman & Associates brokered the transaction on behalf of a joint venture of Savanna Investment Management LLC and Hudson Realty Capital.
“Bristol Business Center presented the buyer with the opportunity to purchase an institutional quality manufacturing and warehouse/distribution facility with quality tenants for $50 per square foot with rents at approximately 20% below market with a capacity to add an additional 200,000 square feet. The property has 28-30-foot ceilings and rail spurs directly into the building,” said Fishman.
Located at 780 James P. Casey Road, the 182-acre complex is formerly a General Motors manufacturing plant, which was vacated in the mid-1990s. Firestone Building Products Co., Arett Sales and Clark Steel are the property’s main tenants.
RKF Investment Sales and Advisory Services specializes in developing and executing investment strategies for buyers and sellers of all types of retail driven assets. The firm is fast emerging as a leader in all aspects of investment sales in New York City as well as nationwide.
About Robert K. Futterman & Associates
The country’s leading independent real estate firm specializing in retail leasing and investment sales, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $9 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the US for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
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