The internet has significantly changed the way many industries do business — including the commercial real estate sector.
Few in Connecticut have taken advantage of those changes more than Michael Guidicelli, owner of Glastonbury-based brokerage firm Regions Commercial.
Guidicelli has been particularly active in helping landlords sell their properties through the online auction website Ten-X. In fact, Guidicelli says he ranks in the top 10 nationwide and holds the No. 1 spot in Connecticut for commercial auction sales.
“One of the biggest misconceptions about auctions is that they lead to distressed or bargain pricing,” Guidicelli recently told the Hartford Business Journal. “That couldn’t be further from the truth. In fact, many of my recent transactions have exceeded market guidance, often setting new pricing benchmarks that influence broader market comps.”
Over the past 12 months, Guidicelli has brokered more than a half-dozen deals valued at more than $1 million. He’s been particularly active in the medical office sector, including brokering the sale of a 90,000-square-foot medical/professional office building in Farmington, at 2 Forest Park Drive, for $7 million.
He also brokered the sale of a 30,000-square-foot professional/medical office building in Glastonbury, at 300 Winding Brook, for $2.65 million.
“Properties with a medical component, or those with potential to be repositioned for health care use — such as professional offices or high-visibility retail in high-traffic corridors — are especially active in today’s market,” Guidicelli said. “Additionally, I’m seeing strong traction with owner-occupied buildings where the primary user occupies a portion of the property while generating supplemental income from leasing the remaining space.”
Guidicelli, a UConn alum, has earned a Certified Commercial Investment Member designation, and served on the board of CCIM’s Connecticut chapter. He also earned the SIOR designation from The Society Of Industrial & Office Realtors.