Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

December 14, 2023

Two Rocky Hill retail properties sell for $11 million

Costar 377 Cromwell Ave., Rocky Hill

A pair of side-by-side retail strip properties with a combined 34,656 square feet of building space along Route 3 in Rocky Hill recently sold for $11 million.

The purchases, recorded by the town on Dec. 1, were made by two limited liability companies that trace back to Glastonbury real estate investor Filadelfo Ossino.

Ossino is the listed principal of Hartford-based Marconi Enterprises LLC, which paid $7.8 million for a 26,236-square-foot retail strip center on 2.8 acres at 397 Cromwell Ave. The brick-and-masonry building was completed in 1990 and is divided into 14 retail units. 

397 Cromwell Ave., Rocky Hill

Marconi Property LLC – which lists Marconi Enterprises as its principal – paid $3.2 million for a neighboring 8,420-square-foot retail building on 1.18 acres at 377 Cromwell Ave. That building was completed in 2005 and currently hosts a Webster Bank branch and Salute Restaurant.

The properties were sold by two limited liability companies – Hillview Plaza Associates and Hillview North – that have a common principal in Andrea Rosenfield, of Boca Raton, Florida.

Marconi Enterprises sold off various apartment assets in the Greater Hartford area in 2022.

That year, Marconi sold a seven-building portfolio with 47 apartments in Hartford’s South End to a West Hartford buyer for $3.5 million. It sold a 32-unit, six-building Hartford portfolio to a pair of New Jersey investors for $2.5 million. Marconi also sold a 40-unit apartment building in New Britain for $2.8 million.

Thomas P. Boyle and Jordan Pinto of Hartford-based Chozick Realty Inc. brokered the Rocky Hill sale.

Boyle said the larger building had a single, 1,200-square-foot vacancy at the time of sale. He credited Farmington-based Cornerstone Properties Inc. with managing the plaza well, which aided the sale. 

Boyle said the properties were “quietly” marketed to a list of potential buyers.  The buildings went under contract within 45 days and the sale closed about two months later, he said. 

The properties are located in a busy commercial area, Boyle said. The larger plaza hosts a tanning salon, Domino’s Pizza and a Dunkin’ restaurant, among others. 

“It’s just the kind of shopping center that is always in high demand,” Boyle said. “This type of property offers the day-to-day services and conveniences people are looking for.” 

Sign up for Enews


Order a PDF