Bristol-based RGD Technologies recently sold its 205,128-square-foot manufacturing building for $7.1 million, but will continue operations as a tenant of the new owners. The 53-year-old company has long been a fixture in Bristol’s corporate community, as a supporter of community events and charities. The company also sponsors the Bristol Blues, a summer collegiate baseball team […]
Bristol-based RGD Technologies recently sold its 205,128-square-foot manufacturing building for $7.1 million, but will continue operations as a tenant of the new owners.
The 53-year-old company has long been a fixture in Bristol’s corporate community, as a supporter of community events and charities. The company also sponsors the Bristol Blues, a summer collegiate baseball team based at Muzzy Field in Bristol.
In a sale recorded on Nov. 9, RGD’s real estate arm – RGD Realty LLC – sold the two-story, 1942-vintage building and 9.1 associated acres at 50 Emmett St., to Emmett Group LLC, of Brooklyn, New York.
RGD bought the Bristol property in 1990. It has shrunk its headcount over the past two decades, divesting divisions to focus on core competencies and cutting labor needs through the adoption of modern machines, according to founder and owner Bob Dabkowski.
The company's headcount has shrunk from 135 employees in 2006 to 32 today, according to Dabkowski.
Dabkowski said RGD now leases about 60% of the building from the new owner, which he described as a real estate investor. It’s more space than RGD had previously occupied, Dabkowski noted.
He said business is strong, and the lease provides room for growth. Seven companies that leased space from RGD will also remain as tenants of the new owner, he said.
The new owner’s principals are Moses and Hendel Gold, with a business address in Brooklyn, New York, according to state business records. Attempts to reach them were unsuccessful.
Dabkowski said the sale relieves RGD of the task of being a landlord, allowing the machining company to focus exclusively on its products and customers. RGD services a wide range of industries, including aerospace, automotive, electrical, firearms, appliances, energy, mining and more, according to its website.
RGD had grown to oversee six companies through acquisitions, according to its website, but divested three divisions over the past decade to focus on its primary expertise of machining precision screw machines and CNC components.
Today, RGD continues to run Dabko Industries and New Tech Replacement Parts as its primary divisions.
