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First Hartford Corporation engages in the purchase, development, ownership, management, and sale of real estate. Segments The company operates through Real Estate Operations and Fee for Service segments. Business The real estate, owned and/or managed by the company through various subsidiaries and joint ventures, is located in Connecticut, New Jersey, Texas, Massachusetts, Rhode Island and Delaware. The company has an agreement with CVS Caremark Corporation (CVS) to be a preferred developer in western Texas; the Rio Grande Valley, Houston; Austin, Long Island, New York; northern New Jersey; and Louisiana. This is a fee for service agreement whereby the company would locate a site, negotiate a letter of intent, prepare store development budgets, demographics, arrange traffic counts and submit for real estate committee approval. Once approved the company would negotiate a purchase or lease and obtain permits. The company would invoice (and record as income) approximately 75% of the fee when the property is purchased or leased and a building permit is issued. The company is also a preferred developer for Cumberland Farms Inc. History First Hartford Corporation was incorporated in Maine in 1909.
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