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HARTFORDBUSINESS.COM | APRIL 6, 2026 5 Deal Watch Michael Guidicelli stands in front of the Wauregan Mills complex in Plainfield, which he recently acquired for potential redevelopment. HBJ Photo | Michael Puffer Broker buys sprawling Plainfield mill complex, eyes redevelopment options Curb appeal Guidicelli said he intends to spend "several million" dollars on exterior improvements across the complex to prepare it for potential tenants, which will help guide the redevelopment direction. The first phase includes securing the building envelope, repairing roofs and dormers, replacing windows, and upgrading landscaping to improve the property's curb appeal. "You really have to help people see a space before you can attract them, because not everybody can envision a space in the same way you can," said Jennifer Gaggion, owner of Glaston- bury-based interior design firm Design Your Monday and a frequent collaborator with Guidicelli. "Obviously that takes capital and it takes some level of investment, but it really pays off, because it can help expedite the leasing process." Gaggion is providing guidance on the initial facelift of the Wauregan Mills property and is working on renderings to illustrate potential layouts for different users, with a focus on preserving the historic char- acter of the complex. A landscape firm has already been hard at work on the property, using heavy equipment to tame brush around the building and beat back the encroaching woodland. Vines covering exterior walls have been pulled, and large mounds of debris and litter are gathered for disposal. Guidicelli plans to market the property to potential industrial, office and other commercial users for about a year. If that does not pan out, he said he will explore a more complex multi- family and mixed-use redevelopment. Plainfield First Selectman Kevin Cunningham said he supports efforts to redevelop the property and would consider zoning changes, tax relief and other incentives to facilitate the project. "I do not want to see that building end up in a pile of rubble," Cunningham said. "And it's at that stage right now where, if you don't start doing some- thing with it now, you could end up like that within five or 10 years." Multifamily redevelopment, Cunningham said, would help meet growing demand from new employers moving into town, including an Amazon warehouse that opened last October and a 1.3-million-square-foot Uline distribution center expected to open in June. The town is well positioned to support additional development following recent sewer capacity upgrades funded with federal pandem- ic-relief dollars, Cunningham said. He also noted that neighbors are starting to notice Guidicelli's efforts. "I think if you're living in that area and you see that being cleaned up, you have hope," Cunningham said. "And that's a good thing, because there are ways that a community can come together to help move to the next step of this. And I think the neighborhood would love to see something happen." By Michael Puffer mpuffer@hartfordbusiness.com R ising along the banks of the Quinebaug River, the dormant Wauregan Mills complex stands as both a relic of Connecticut's indus- trial past and a major redevelopment opportunity under a new owner. Construction of the Plainfield mill property began a few years before the Civil War, and the textile operation grew to employ more than 700 workers and house over 55,000 spindles and 1,400 looms, according to the Connecticut Trust for Historic Preservation. The mill closed in the late 1950s after a combination of flood damage and increased competition from over- seas manufacturers. The complex's last user, cable manufacturer C&M Corp., operated there from 1974 until relocating to a newer facility in Killingly in 2014. In the decade since, the roughly 375,000-square-foot property has fallen into disrepair. Vandals and squatters have broken into the build- ings, while vegetation has overtaken parts of the site. "I would say nature was winning over the built environment, but we caught it in time," said Michael Guid- icelli, owner of Glastonbury-based brokerage and real estate advisory firm Regions Commercial. Guidicelli had been serving as the property's listing broker for about nine months before purchasing the nine-building complex at 51 S. Walnut St. in February for $1.96 million from New York-based DMSB Real Estate Management LLC. The deal includes a $1.36 million mortgage from the seller. For now, he plans to repair and improve the 24-acre riverfront prop- erty before marketing it for indus- trial, office and other commercial uses. Longer term, he said he could pursue a multifamily or mixed-use redevelopment if leasing efforts do not materialize. "Its historical connection and its size made it a very rare redevelop- ment opportunity to make something exciting for the property and the town," Guidicelli said. "It's one of the largest commercial buildings in Connecticut, and one of the largest redevelopment opportunities in the Northeast." A step-up Guidicelli said the Wauregan Mills project represents the biggest under- taking of his career. Licensed since 2004, he has worked as a broker on complex transactions while assembling an investment portfolio that, prior to the Wauregan Mills purchase, totaled about 100,000 square feet across five properties, including office, medical, retail and smaller apartment conversions. A member of the Certified Commer- cial Investment Member Institute and the Society of Industrial and Office Realtors, Guidicelli focuses on acquiring underutilized proper- ties and repositioning them through renovation and leasing. He takes a hands-on approach to development, overseeing construction, managing renovations and leveraging private investors and institutional lenders to finance projects. The scale and historic character of the Wauregan Mills complex present both challenges and opportunities. The property includes several struc- tures dating to the 1850s, along with three warehouse buildings added after 1900 that range from 1,550 to 16,000 square feet. The original mill building, laid out in an "H" formation, features plastered field-stone walls, with Italianate and Greek Revival architectural flourishes including towers topped with belfries. The roofline features numerous dormers. Diamond-shaped metal caps adorn the exterior walls at regular intervals, marking the spots where 50-foot-long heavy wooden joists are fixed to the structure. While marketing the property, Guid- icelli said he discovered an antique stone foundry building near the river's edge that had been obscured by brush and trees. He said he may rehab that structure as a rental residential unit. Hazardous building materials and environmental contaminants on the property were remediated by previous owners, Guidicelli said. The site remains subject to environmental land-use restrictions and includes test wells that require ongoing monitoring, but he said those conditions do not prevent redevelopment.