Cornerstone Properties

What Cornerstone Properties does

Cornerstone Properties, Inc. is a privately held commercial real estate investment, development, and management firm founded in 1979 by Bruce A. Fischman and headquartered at 231 Farmington Avenue in Farmington, Connecticut. The company owns, leases, and manages a diversified portfolio of commercial properties across New England — primarily Connecticut and Massachusetts — spanning grocery-anchored shopping centers, multi-tenant office and medical buildings, high-bay industrial facilities, and standalone retail. Named assets include Shop Rite Plaza (145,000 SF, Southington CT), Stop & Shop Plaza (57,000 SF, East Hampton CT), Plaza 114 (Lawrence, MA), 231 Farmington Avenue (50,000 SF office/medical), Sunset of Avon, Hillview Plaza, Big Y at Valley Farms, Furniture Row (250,000 SF industrial, Milford CT), and Chirnside (280,000 SF industrial, Windsor Locks CT), among others. The firm is led by Fischman (President and Treasurer) and Joseph J. DeMaio (VP Operations, joined 1985), combining expertise across law, accounting, finance, construction, leasing, and property management.

The firm's primary revenue derives from rental income on owned assets — a recurring, lease-based stream from national and regional tenants including Stop & Shop, Shop Rite, Big Y, CVS, Bank of America, Santander, Petco, Advance Auto Parts, and Ahlstrom Company. Cornerstone also generates fee-based income through third-party property management services for financial institutions, REITs, and private owners. Leasing is conducted directly by the in-house team with no intermediaries; pricing is quote-based and negotiated per space, with no standardized public disclosure. The company operates with no proprietary technology platform — differentiation rests on hands-on ownership, long-term capital commitment (multiple assets held 20+ years with the same tenants), and in-house operating capability.

Cornerstone has actively managed its portfolio through both acquisition and disposition cycles, with notable recent transactions including the 2022 acquisition of 231 Farmington Avenue (via BHNV 231, LLC), the 2023 $27.75M sale of the Ellington Shopping Center, and the 2023 onboarding of Kings Highway Realty in Fairfield, CT as a managed property. Go-to-market is direct — corporate website, property brochures, and a regularly updated blog — targeting enterprise and mid-market tenants as well as institutional and individual owners seeking active asset management. The firm is privately held with no disclosed external institutional investors, and ownership remains with the founding principals.

Name

Cornerstone Properties

Legal name

Cornerstone Properties, Inc.

Website

https://cpi-ct.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

11–50 employees

Short description

Cornerstone Properties, Inc. is a privately held Connecticut-based commercial real estate firm that owns, develops, and manages grocery-anchored shopping centers, office/medical buildings, and industrial properties across New England, serving national and regional tenants directly while also providing third-party property management services.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Other Financial Investment Activities (5239), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Commercial real estate
• Property management
• Shopping center leasing
• Real estate investment
• Industrial property management

Headquarters

HQ city

Farmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Commercial Property Rental Income: Cornerstone generates primary revenue through rental income from tenants occupying their retail shopping centers, office buildings, and industrial properties across New England. Properties include shopping centers (Shop Rite Plaza, Stop & Shop Plaza, Plaza 114), office buildings (231 Farmington Avenue), and industrial facilities (Furniture Row, Chirnside).
2. Third-Party Property Management Services: The company provides property management services for third-party owners including major financial institutions, REITs, and private individuals, generating fee income for management and maintenance services.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Cornerstone Properties is a privately held real estate investment, development, and management company that owns and operates a portfolio of more than 50 commercial properties, including shopping centers, office buildings, and industrial facilities across New England. The company also offers third-party property management services to outside owners of commercial real estate.

Product overview

Cornerstone Properties is a real estate investment and development company that owns, manages, and develops commercial real estate across New England. The company operates a diversified portfolio of shopping centers (including Shop Rite Plaza, Stop & Shop Plaza, Plaza 114, Sunset of Avon, Hillview North, Big Y at Valley Farms, and Kings Highway Realty), office buildings (231 Farmington Avenue), industrial properties (Furniture Row and Chirnside), and standalone retail locations (CVS Southbury). The company also provides property management services for its own portfolio as well as for third-party owners including major financial institutions, REITs, and private individuals. Property management services include proactive maintenance, aggressive lease management, preventive maintenance programs, and comprehensive accounting reports.

Differentiator

Problem solved

Functional benefit

Brands

• Kings Highway Realty: Shopping center in Fairfield, CT anchored by Stop & Shop, managed by Cornerstone since July 2023.

Products and services

• Commercial Property Leasing
• Third-Party Property Management

Quantifiable outcome

• Properties maintained with high occupancy rates and tenant retention across diverse portfolio
• +2 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves16 records

Expansion highlights5 records

Direct peers

• Marcus Partners: Boston-based commercial real estate investment and management firm with a similar regional, operator-led model. Invests in and manages office, industrial, retail, and multifamily assets across the Northeast, making it a close comparable to Cornerstone's regional CRE investment strategy.
• The Wilder Companies: Massachusetts-based commercial real estate firm focused on retail, office, and industrial properties across New England. Direct peer given shared regional New England focus, mixed-asset portfolio strategy, and operator/investor business model.
• National Development: Newton, MA-based real estate investment and development company focused on mixed-use, multifamily, office, and retail properties across New England. Highly comparable as a regional CRE operator/investor with development capabilities.
• Nordblom Company: Burlington, MA-based commercial real estate investment firm with a 100+ year history of owning and operating office, retail, multifamily, and mixed-use properties across New England. Comparable given the long-tenured, operator-led approach and regional CRE focus.
• BEB Capital: Boston-based privately held commercial real estate investment and management firm operating across New England. Comparable regional CRE operator with diversified office, retail, and industrial holdings and a similar hands-on management approach.
• Anchor Line Partners: Boston-based private commercial real estate investment firm focused on value-add office and mixed-use properties across the Northeast. Comparable given the regional CRE focus, operator-investor model, and value-add repositioning strategy.
• Longfellow Real Estate Partners: Boston-based private real estate investment firm specializing in life science, office, and mixed-use properties across the Northeast. Comparable as a regional CRE investment operator, though more focused on life sciences and Class A office.

Broad incumbents

• Boston Properties: Large publicly-traded REIT and one of the largest owners and developers of office properties in the U.S., with significant New England concentration. Represents a broader incumbent competitor in the same regional CRE market with overlapping office and mixed-use exposure.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cornerstone Properties