A 300,000-square-foot, three-building former manufacturing facility in Bristol sold for $1 million last month, according to property records.
The property at 300 Broad St. is a portion of the former Theis Precision Steel USA site. It was sold to a division of Stillman Development International, a New York-based real estate development company.
In addition to the three buildings, the site contains a yard space along a rail spur serviced by Pan Am Southern Railroad.
“There’s high demand in the market for industrial space – very low vacancy rate,” said Sean Kumnick of Colliers International, who represented the seller and has also been retained to lease the property. “This offers the opportunity for warehouse manufacturing and the other perk for this, really the highlight is the rail spur.”
The three buildings on the property include:
- 175,000 square feet of manufacturing and distribution space with 18-foot high ceilings, four docks and rail siding.
- About 100,000 square feet of space with 22- to 26-foot high ceilings, large drive-in doors and interior rail siding.
- 25,000 square feet of space and drive-in doors.
In July 2021, 340 Broad St., another site at the former Theis complex, was sold to a separate buyer, Chicago-based Combined Metals, for $350,000. After that acquisition Combined Metals announced it was planning to get the plant back up and running after Theis shut down operations in 2019.
At 300 Broad St., Stillman plans to repave, repaint, and replace floors and roofs, according to Colliers. The company hopes to have a solar array at the site to offset the property’s carbon footprint.
This isn’t Stillman’s first investment in the area — the company purchased a Newington industrial building at 1170 Main St., in 2021.
