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NY Investor Pays $23.5M for Former GM Facility in Bristol

BRISTOL, CT-Savanna Partners Corp., a New York-based investment group, has paid $23.5 million for a 1,162,167-sf facility here that for about 20 years housed manufacturing operations of General Motors.

By John Jordan | Updated on August 20, 2003

BRISTOL, CT-Marcus & Millichap Real Estate Investment Brokerage Co. reports it has brokered the sale of the Bristol Business Center, a 1,162,167-sf facility that was originally built to house manufacturing operations for General Motors.

Mitchell R. LaBar, senior vice president and managing director of Marcus & Millichap’s Northeast offices, says the industrial and warehouse property at 780 James P. Casey Rd. here was sold by a New York-based seller to Savanna Partners Corp., a New York-based investment group, for $23.5 million.

Ben Sgambati, an investment specialist in Marcus & Millichap’s Fort Lee, NJ, office, secured the exclusive listing and marketed the property. The $23.5 million sale price represented $20 per sf.

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