A 13-acre former industrial site across from the Bristol casino was purchased for $7 million by the founding partners in the casino venture and is currently being used for employee parking.
The property, at the corner of Catherine Street and Gate City Highway, was bought Sept. 6 by Exit 1 Development LLC… The property was assessed at $1.52 million, according to the deed.
The partners in the casino project — the United Company and Par Ventures — purchased the property, according to Andy Poarch, a spokesperson for the casino.
“It is currently being used for team member parking and is available for overall parking needs. The reason for the purchase is to be prepared, in advance, to meet future growth demands, as they may arise,” Poarch responded in answer to questions about the purchase and the future use of the property.
