Massive Bristol industrial property sells for $79.25M; future development eyed

A New Jersey-based real estate investment firm bullish on Connecticut has paid $79.25 million for a sprawling industrial complex in Bristol. The 1.2-million-square-foot Bristol Logistics Center at 780 James P Casey Road sold in October. It’s likely to be one of the largest Greater Hartford commercial real estate deals of the year. The buyer was Treetop Companies, a Teaneck, New Jersey-based real estate investor and developer. Mermelstein said his firm is eyeing a future addition to the 139-acre property. That could include a new 250,000-square-foot industrial building built on-site, or a 250,000-square-foot addition to the existing building. Those plans won’t be finalized until sometime in the first quarter of 2023, he said. Mermelstein said his firm was attracted to Connecticut by its proximity to major highways and ability to pull workforce from several markets.

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