First Hartford Corp

What First Hartford Corp does

First Hartford Realty Corporation is a U.S. real estate development, acquisition, and management company operating as a public company on the OTCQB market (ticker: FHRT). Headquartered in Manchester, Connecticut with a regional office in Houston, Texas, the company operates across eight states (Connecticut, Delaware, Louisiana, Massachusetts, New Jersey, New York, Rhode Island, and Texas). It runs three primary business lines: Client Development (acting as preferred developer for major retail chains), Commercial Development (owning and operating single-tenant retail, regional power centers, and grocery-anchored community centers), and Multifamily Housing (developing and managing over 1,000 residential units through subsidiary FHRC Management Corp, totaling approximately 1,200 managed units).

The company generates revenue through a mix of professional services fees (preferred-developer engagements), one-time property sales and leases, and recurring managed services revenue. It serves as preferred developer for CVS Health (having delivered over 250 pharmacy locations) and Cumberland Farms (over 50 convenience and fueling locations), and maintains a broad retail tenant base including AutoZone, Chipotle, Starbucks, Ross Stores, TJ Maxx, Burlington, and Planet Fitness. It also operates a wholly-owned affordable-housing development platform, Connolly and Partners LLC, established in January 2005, which partners with local Public Housing Authorities on mixed-income and affordable housing projects.

Technically, First Hartford is a traditional real estate operator with no proprietary technology stack, AI capabilities, or platform software products; its competitive edge rests on in-house general contracting capability (acting as general contractor on the majority of developments), deep local permitting expertise, and decades-long client relationships. The company is controlled by Chairman Neil Ellis, who founded the predecessor business in 1949 and created the public entity in 1962; leadership has remained stable with a small staff averaging 10+ years of tenure and the General Counsel exceeding 30 years.

Name

First Hartford Corp

Legal name

First Hartford Realty Corporation

Website

https://firsthartford.com

Company type

Public

Founded year

1962

Operating status

Operating

Headcount range

101–250 employees

Short description

First Hartford Realty Corporation is a public U.S. real estate developer and property manager serving as preferred developer for CVS Health and Cumberland Farms, with a multifamily portfolio of 1,200 units across eight Northeastern and Southern states.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Nonresidential Property Managers (531312), Residential Property Managers (531311), Offices of Real Estate Agents and Brokers (5312)

SIC

Operators Of Nonresidential Buildings (6512), General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Commercial Real Estate Asset Management (BPAJAMAB), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB), Residential General Contracting (New Build) (IMAFAAAB)

Keywords

• Commercial real estate development
• General contracting services
• Multifamily property management
• Preferred developer services
• Retail site development

Headquarters

HQ city

Manchester

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Preferred Developer Services: First Hartford serves as preferred developer for CVS Health and Cumberland Farms, handling site selection, permitting, and construction management. They have assisted CVS in opening over 250 locations and over 50 locations on behalf of Cumberland Farms.
2. Commercial Property Development: Self-development of retail properties including single-tenant retail, regional power centers, grocery-anchored community centers. Properties are sold or leased to tenants.
3. Multifamily Development: Development and management of multifamily housing portfolio of over 1,000 units. Property management conducted through wholly owned subsidiary FHRC Management Corp.
4. General Contracting: Acts as general contractor on the majority of developments to control costs, quality, and schedules. In-house construction staff handles construction management and oversight.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

First Hartford Realty Corporation is engaged in the acquisition, development, and management of commercial and multifamily properties. The company acts as general contractor on the majority of its developments and serves as a preferred developer for CVS Health and Cumberland Farms, handling site selection, permitting, and construction for hundreds of retail locations. It also develops and manages multifamily housing (over 1,000 units) through subsidiary FHRC Management Corp.

Product overview

First Hartford Corp operates as a real estate development, acquisition, and management company with three primary lines of business: Client Development, Commercial Development, and Multifamily Housing. The company offers integrated services including development (site selection, permitting, construction management), general contracting, and property management through its subsidiary FHRC Management Corp. They serve as preferred developers for major retail chains like CVS Health and Cumberland Farms. Their portfolio ranges from single-tenant retail properties and regional power centers to grocery-anchored community centers and multifamily developments exceeding 1,000 units.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services Full-service real estate development including site selection, market research, contract negotiation, due diligence, permitting, and construction management for commercial and multifamily projects, sold to enterprise retail tenants and other property owners.
• Construction Services General contracting services for retail, multifamily, and commercial developments, providing First Hartford control over costs, quality, and project schedules, and offered as part of the integrated development offering to enterprise clients.
• Property Management Management of approximately 1,200 multifamily units in the northeastern United States, delivered to residents and property owners through wholly owned subsidiary FHRC Management Corp.
• Preferred Developer Program Preferred developer services for CVS Health and Cumberland Farms covering market research, site identification, contracts, due diligence, permitting, and construction across multi-location retail rollout programs.

Quantifiable outcome

• CVS opened 250+ locations through First Hartford development
• +2 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• CVS HealthcoreStrategic or Co-development PartnerFirst Hartford serves as a preferred developer for CVS Health, assisting in opening over 250 pharmacy locations. They handle site selection, permitting, and construction management for CVS expansion projects.
• Cumberland FarmscoreStrategic or Co-development PartnerFirst Hartford is a preferred developer for Cumberland Farms, having assisted in opening over 50 convenience store and fueling station locations. They manage the full development process from site selection through construction.
• Connolly and Partners, LLCcoreStrategic or Co-development PartnerCreated in January 2005 as a platform for developing mixed income and affordable housing. Direct affiliate of First Hartford Corporation with focus on new production and rehabilitation of housing, working with local Public Housing Authorities.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Realty Income Corporation: Large public net-lease REIT with a national portfolio of single-tenant retail properties, operating at greater scale but in a closely adjacent category to First Hartford's single-tenant retail development business.
• Jones Lang LaSalle (JLL): Global real estate services and investment management firm offering development, property management, and capital markets services — a much larger incumbent operating across many of First Hartford's service lines.
• AvalonBay Communities: Large public multifamily REIT developing and managing apartment communities, comparable to First Hartford's multifamily development and 1,200-unit management business, though operating at significantly greater scale.
• CBRE Group: Global commercial real estate services firm offering development, property management, and brokerage — a scaled incumbent competing for many of the same retail and multifamily services opportunities.

Direct peers

• Kimco Realty Corporation: Public REIT focused on open-air shopping centers with national retail tenants, overlapping with First Hartford's portfolio of regional power centers and grocery-anchored community centers.
• Federal Realty Investment Trust: Public REIT specializing in grocery-anchored shopping centers and mixed-use developments, comparable to First Hartford's mixed retail and multifamily development strategy in the Northeast.
• Brixmor Property Group: Public REIT owning and operating open-air shopping centers anchored by grocery and necessity-based retailers, with a comparable national-retail-tenant focus to First Hartford.
• BRT Realty Trust: Diversified real estate company involved in multi-family and commercial property ownership and development, comparable in size and multi-segment approach to First Hartford.
• Regency Centers Corporation: Public REIT specializing in grocery-anchored shopping centers leased to national retailers, directly comparable to First Hartford's commercial retail development and leasing business.
• Phillips Edison & Company: Public REIT focused on grocery-anchored neighborhood shopping centers, closely matching First Hartford's retail real estate development and ownership focus on national retail tenants.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/first-hartford-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 First Hartford Corp