Printer Friendly

NEW BRITAIN'S 'FAFNIR BEARING PLANT,' A.K.A. BOOTH STREET BUILDING, SET FOR MARCH AUCTION

NEW BRITAIN'S 'FAFNIR BEARING PLANT,' A.K.A. BOOTH STREET BUILDING,
 SET FOR MARCH AUCTION
 NEW BRITAIN, Conn., Jan. 29 /PRNewswire/ -- Michael Fox Auctioneers in cooperation with James E. Hanson, Inc.-Realtors, today announced that the former "Fafnir Bearing Plant," also known as the Booth Street Building, in New Britain, will be sold at auction on Wednesday, March 18, at noon. Located at 37 Booth St., the building and property is located across from the Stanley Works Co., adjacent to the New Britain central business district and in the midst of the New Britain Enterprise Zone. The property is adjacent to Route 72 and is easily accessible via interstates 84 and 91. The auction will take place on the premises.
 Currently owned by the Torrington Co., the Booth Street Building is in the center of an exciting revitalization area. The main plant consists of 598,755 +/- square feet. The property is situated on 12.14 +/- acres and includes an additional parking lot totaling 2.19 +/- acres for a combined total of 14.32 +/- acres.
 Formerly used for the manufacture of bearings, the property, which will be offered as an entirety, is suitable for a multitude of uses. The property is zoned I-2 for general industry permitting industrial as well as general office use. A mixed use of residential and office is also possible, as is outlet or off-price retail.
 "This auction represents a fantastic opportunity for an investor, developer, industrial or office user to acquire a highly visible property with excellent development potential in an exciting revitalization area," stated Michael Fox's Senior Marketing Representative Alison J. Ford.
 Because the property is located in the Enterprise Zone, financial assistance for qualified buyers is available from the State of Connecticut.
 New Britain has been fortunate in being part of the State of Connecticut's pioneering Enterprise Zone program. The program represents a state and local commitment to encourage development in specially selected areas through the use of incentives like tax abatements and special financing programs.
 To aid in revitalizing the central business district, property owners in New Britain created the Downtown District in 1983. The result is a more attractive, vibrant downtown which, no doubt, significantly increases the attractiveness of the Booth Street property.
 Numerous exciting development projects are currently underway in and around New Britain. Development interests abound in the city, which is located in the heart of one of the strongest economic growth areas in the country, according to the New Britain Chamber of Commerce.
 Persons interested in obtaining more details about the auction may do so by calling 800-722-3334.
 Michael Fox Auctioneers, one of the largest auction and asset recovery firms in the nation, was founded in 1946. The company conducts approximately 100 commercial and industrial auctions annually.
 -0- 1/29/92
 /CONTACT: Alison J. Ford of Michael Fox Auctioneers, 800-722-3334/ CO: Michael Fox Auctioneers, Inc. ST: Connecticut IN: SU:


DC -- DC005 -- 4641 01/29/92 10:24 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 29, 1992
Words:489
Previous Article:PIPER JAFFRAY REPORTS RECORD FIRST QUARTER EARNINGS, ANNOUNCES PLANNED SECONDARY 2.175 MILLION SHARE OFFERING BY SHAREHOLDERS
Next Article:FIRST UNION ANNOUNCES 1991 OPERATING RESULTS


Related Articles
This is cool.
NEW BRITAIN'S 'FAFNIR BEARING PLANT,' A.K.A. BOOTH STREET BUILDING, SET FOR MARCH AUCTION
Clark County comeback.
International eyes on Arkadelphia's Carrier plant.
Ex-manager ready for his first sale; HAMMER SET TO FALL AGAIN AT BYRNE'S AUCTION ROOMS.
Timken to Transfer Balance of Reno and Toronto Logistics Operations to CoLinx.
Timken Extends New Product Brands to Mexican Distributors Via The Timken Store at PTplace.com; Torrington(R), Fafnir(R) and Kilian(R) Products...
Start the year by going green; Recycling.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters