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Tue, Mar 26
A Compendium of Property & Capital News
Mar 26
A Compendium of Property & Capital News

$2,800,000 Loan for Multi-tenant Flex/Industrial Property in Shrewsbury

July 16, 2018 - By The Real Reporter
910 Boston Turnpike, Shrewsbury

SHREWSBURY– Fantini & Gorga arranged $2,800,000 in first mortgage financing for a 36,660-square foot, flex/industrial property, located at 910 Boston Turnpike in Shrewsbury, MA. The site is broken up into 8 rental units, with 9 loading docks.

Currently the property is 100% leased to five commercial tenants, which include Jenny B Companies, United Medical Systems and Up, Up and Play Day Care. 910 Boston Turnpike is ideally situated between route 20 and route 140 on the inbound side of highly trafficked route 9. This area has seen a reemergence since Wegmans opened near the route 20 intersection in 2011.

Derek Coulombe, Senior Managing Director, and Lindsay Feig, Analyst, led the Fantini & Gorga team by arranging the financing on behalf of the buyer. Coulombe spoke on behalf of the collaborative achievement. “The borrower was looking for the financing to match his long term hold perspective, with this in mind we were able to secure a fifteen year fixed rate life insurance company loan with a very competitive rate with one of our exclusive correspondents,” extolled Coulombe. “Life Insurance loans are getting competitive at all loan sizes with longer terms that don’t necessarily need to match the amortization, our client really liked this,” added Coulombe.

Derek Coulombe Lindsay Feig