BRISTOL - The buildings at 188 and 200 Main St., home to The Bristol Press and the Chamber of Commerce, respectively, are under new ownership. RZ Realty sold both buildings in a package deal to Japanese investor Chikayuki Yamamoto.
Tom Zipp of RZ Realty said his company owned 188 Main St. for eight years and 200 Main St. for two years.
Zipp will be celebrating his 70th birthday next month and is looking to lighten his workload.
“It was just the right time,” Zipp said. “I’ve enjoyed working with all of the commercial tenants in the building.”
During RZ Realty’s ownership of the buildings, extensive renovations were done, including work on the boilers, windows and façade. RZ also fixed the clock in front of the buildings.
The buildings sold for $1.64 million, with deductions made for future improvements that will upgrade systems and other mechanical work.
“My feeling is that most of the tenants have leases, so nothing is going to change except who they pay and the management company,” Zipp said.
The new management company is Precision Property Management, LLC. Zipp met owner Joe Calvanese and said that Precision seems as if it will be a very reliable company.
RZ Realty has owned a dozen apartment buildings around Bristol over the years, buying them and then fixing them up.
“It’s been pretty stable,” Zipp said. “We had a good run.”
The Bristol Press relocated to 188 Main St. in 2009, right after RZ Realty bought the property.
“We’ve had an excellent relationship with Tom Zipp and RZ and we look forward to working with the new owner in the space that we’ve come to enjoy as the home of The Bristol Press,” said Michael Schroeder, owner of The Bristol Press.
The Press has a long-term contract for the office at 188 Main St. and expects it to continue, Schroeder said.