Heading Into Fall

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Cornerstone Properties celebrated the end of the summer at the Hartford Yard Goats game. The Yard Goats won 6-2.

Heading into September Cornerstone is happy to announce many lease renewals, extensions and exciting partnerships.

Here are a few highlights...

  • At Hillview Plaza in Rocky Hill, Tommy’s Tanning has extended their lease through 7/31/2021 and Dunkin Donuts exercised an option to renew their lease for 5 years through 9/21/2023.
  • At Stop and Shop Plaza in East Hampton, Tang Asia Bistro, LLC has exercised their lease renewal for an additional 5 years which extends their lease through 7/31/2024. Wireless Zone exercised their option as well through 4/30/2020. 
  • In Rockville, Crossroads Community Church of Vernon has extended their lease through 7/31/2020.
  • At ECONN in Brooklyn, CT Auron Athletics has expanded their space by 1,300 Sq Ft. and Dollar Tree exercised their option to extend their lease through 1/31/2021
  • Cornerstone Properties has taken over the management of 1160 Silas Deane Highway in Wethersfield CT.  Lexington Partners, LLC will be developing the property and Innoconn Construction Services will be the contractor. The Borden Wethersfield is going to be transformed into a luxury apartment complex with office and retail space.
  • At Shoprite Plaza in Southington, Cost Cutters has exercised their option to renew for an additional 10 years through 5/31/2029. Town Fair Tire exercised their option to extend their lease by 10 years through 10/31/2028
  • At Gateway Center in New Haven, The New Haven Board of Education and Gilbane Construction have extended their leases.
  • At Plaza 114 in South Lawrence, MA Family Dollar has exercised their option to renew for 5 years until 6/30/2023. Metro PCS has extended 5 years through 10/31/2023 and Santander Bank has extended their lease through 2/29/2024. 

Cornerstone is fortunate to have a wonderful group of tenants who continue to prosper at our various locations. 

Educational Playcare in Ellington Opens

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Cornerstone is happy to announce the April opening of Educational Playcare in the Big Y shopping center in Ellington, CT. The freestanding 15,000 square foot building is the newest edition to Educational Playcare’s locations. Educational Playcare is a perfect fit for the Big Y center whose other tenants include Dollar Tree and McDonald’s  among others.

Access the link below to learn more:
http://www.educationalplaycare.com/locations/ellington/

Sold: Trumbull on the Park

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Cornerstone Properties, Inc. is happy to announce the sale of Trumbull on the Park which it has managed since it was originally developed by Martin Kenny in 2005. The100 unit apartment complex, together with 600 space parking garage has been sold to Spectra on the Park. Cornerstone wishes the new owners the best of luck and success with the property.

http://www.courant.com/real-estate/property-line/hc-trumbull-on-the-park-sale-20180412-story.html

Bank Of America Shoreline

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Cornerstone is pleased to announce that it has completed the sale of its portfolio of four  Connecticut Bank of America branches that it purchased in 1998. The branches were located in Old Saybrook, Niantic, Mystic and Montville Connecticut. During its holding period we successfully renegotiated and extended each of the leases. Cornerstone continues to enjoy a successful relationship with Bank of America in our other locations in Connecticut and Massachusetts.