Bristol Capital owns, manages, or asset manages a portfolio of industrial, flex, self-storage, senior housing and retail assets that totals more than 1,000,000 square feet with a value in excess of $100 million. The portfolio’s assets are located primarily in the Washington, D.C. metropolitan area. Included in this portfolio are the following assets:
Industrial Property Acquisitions and Management
Self-storage Portfolio – In the early 1990s, Bristol Capital acquired four industrial properties consisting of three stand-alone self-storage facilities and an industrial park that included a self-storage facility. Today this portfolio totals 178,000 square feet of self-storage that operate as “Budget Self Storage”. These properties, which are located in Waldorf, Maryland, Marlow Heights, Maryland, and Sterling and Springfield, Virginia, have a current overall occupancy of approximately 84%.
Springfield Newington Industrial Center – A 107,200 square foot high bay industrial facility located in Newington, Virginia that is 100% leased to three tenants; Customs and Border Patrol, the Patent and Trademark Office, and Associated Materials, Inc.
Highland Business Park – This business park, located in Springfield, VA, consists of a 35,000 square foot Budget Self Storage facility, 21,000 square feet of flex office space, and over 20,000 square feet of I-6 ground. Tenants include, Merry Maid, Comint Systems, Land Art, and the International Cavalry Church. The Budget Self Storage property also operates a Budget Truck Rental dealership at this location.
Southlawn Industrial – A 40,000 square foot, multi-tenanted flex property on Lofstrand Lane in Rockville, Maryland.
4527 and 4615 Metropolitan Court – Two 52,000 square foot high bay warehouses located in the Wedgewood Industrial Park in Frederick, Maryland. .
4605 Wedgewood Boulevard – A 16,000 square foot property located in Frederick, Maryland net leased on a long term basis to a.a manufacturer of customized construction equipment.
Hajoca 3 – Three warehouse facilities of varying size net leased to a national distributor of plumbing and pool supply products. The properties are located in Daytona Beach, Deland, and Holly Hills, Florida.
3148-3170 Bladensburg Road – This 59,200 square foot distribution warehouse property is located in Northeast Washington, D.C. and is currently 84% leased to four tenants. Tenants include Aaron’s Rents, the United States Postal Service, Lockheed Martin, and A.V. Smoot.
700 Evelyn Avenue – A 180,376 square foot warehouse property located outside in Linthicum, Maryland that is 82% leased to three tenants.
31/35 Sheridan Street NW Washington, D.C. – In March, 2005 a Bristol Capital affiliate purchased the 14,400 square foot office warehouse property in Northwest Washington, D.C. The property is 100% leased to Standard Office Supply.
630 Solarex Court, Frederick, MD (Former BP Solar Property) – In June 2012, a Bristol Capital affiliate purchased the BP Solar Property in Frederick, MD from BP Solar, Inc., a wholly owned subsidiary of the British Petroleum Company. The Property, located at the intersections of Interstate 270 and Interstate 70, consists of 23 acres and includes: i) a 65,000 warehouse; ii) a 130,000 square foot concrete foundation; iii) a 66,500 square foot underground warehouse beneath the foundation; iv) the former BP Solar Manufacturing facility consisting of 102,000 square feet (which has now been demolished); and v) additional developable land and parking. The property has been renamed Vantage70 and is currently being marketed to industrial, manufacturing, research, and office users. Visit Vantage70.com for an overview of this Property and for a link to the Property Brochure.
12200 Baltimore Avenue, Beltsville, MD (The Ritz Camera Building) – In May 2013, a Bristol Capital affiliate purchased 12200 Baltimore Avenue from principals of Ritz Camera. The Property, located at the intersections of Route 1 and Ritz Way, consists of 106,000 square feet of industrial and office space. The Property was purchased entirely vacant and is currently being marketed for sale or lease.
CB 8th Street – An affiliate of Bristol Capital purchased a controlling interest in the entity that owns the property located at 2009 8th Street in Northwest, Washington, DC. The property is net leased on a long term basis to a nightclub and possesses significant re-development potential.
Office Building Ownership and Sale
The Webb School – In July 1996, an affiliate of Bristol Capital purchased a 45,000 square foot office building in White Plains, New York from the Resolution Trust Corporation. The purchase price was $1,800,000. At the time of acquisition, the building, referred to as The Webb School, was poorly performing and had several expiring leases. During the next four years The Webb School was leased to a 97% occupancy and sold to a private investment group for $4,800,000 in August, 2000. A Bristol Capital affiliate served as Manager of the ownership group and Bristol Capital was the asset manager for the property.
Annapolis Commerce Park East – In April, 2004, an affiliate of Bristol Capital purchased a controlling interest in Annapolis Commerce Park East, a 101,302 square foot flex warehouse property located in Annapolis, MD. The purchase price was $12.2 million. Over the next three years the property was leased to 100% occupancy and sold in May, 2007 for $19.25 million to First Potomac Realty Trust.
In 1994, Bristol Capital formed a joint venture with a Chicago based developer designed to fulfill an unmet need for multi-family properties in the suburbs of Chicago. The joint venture operated as Bristol Chicago Development, L.L.C. Between 1994 and 2000 (at which time Bristol Capital reduced its involvement in Bristol Chicago), Bristol Chicago merchant developed more than 3,000 Class A residential units in eleven properties at a total development cost in excess of $285,000,000.
Atrium Village – In 1999, Bristol Capital was retained to secure financing and to be a part of the team that developed Atrium Village, a 275 unit Independent and Assisted Living facility located in Owings Mills, Maryland, a northern suburb of Baltimore. Bristol Capital secured equity and debt financing for this property that was physically completed in July 2001 at a cost of approximately $30 million. Atrium Village was sold in June, 2007 for $57.5 million.
Edenterrace – In November 2000, Bristol Capital acquired a 98-unit assisted living facility in Spartanburg, South Carolina from Three Rivers Bank. Bristol Capital moderately rehabbed the property and re-opened it in June 2001. In 2008, Bristol Capital added a 40 bed Alzheimer’s Wing to this facility and has now leased this property to a current occupancy of 94%.
Circle Manor – In September 2005, Bristol Capital acquired an 87 bed, recently closed, nursing home facility located on 4.5 acres in the historic district of Kensington, MD for $2.4 million. The property called Circle Manor includes the historic home of Brainard Warner, the founder of Kensington and is zoned for 18 single family residential lots. Within 6 months of acquisition, Bristol Capital closed the sale of this property to the Montgomery County Legacy Open Space Program for $6.4 million.