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July 22, 2022

Retail plaza in downtown East Hartford sells for $6.2M

CoStar 20 Burnside Ave., East Hartford
By Michael Puffer

A 2.2-acre retail plaza anchored by CVS at the corner of Burnside Avenue and Main Street in downtown East Hartford recently sold for $6.2 million.

Andrew J. Poma, of Nyack, New York, sold 20 Burnside Avenue to Virari LLC, of Windsor, in a deal recorded July 20. A portion of the property is also known as 1210 Main St.

The buyer’s principals are Bhanji L. Bhut and Dhirajlal Bhut, both residents of Windsor. Attempts to reach them Friday morning were not immediately successful.

Poma purchased the property for $6.3 million in 2014, according to town assessing records.

CVS occupies a 10,125-square foot retail building on the property.  A second, 9,000-square-foot building is occupied by EB Lens, Subway and Soapbox retailers. Both buildings were built in 1999, according to town records.

Matthew Nadler and Hobart Hare of Horvath & Tremblay represented the seller.

Nadler said the new owners plan to continue operating the property as an investment. He said there was strong interest and multiple offers.

“There will always be demand for well located properties in dense, urban areas,” Nadler said. 

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