Joseph Hegenbart, managing director, at NorthMarq's Boston regional office, arranged mortgage financing of $2.5 million for 495 Southern Artery (Rte. 3A). The loan was arranged for the borrower, Faxon Heirs LLC, by NorthMarq through its correspondent relationship with Sun Life Assurance Company of Canada.
The subject property is a 6.49 acre site located at the intersection of Southern Artery and McGrath Highway. The site is improved with a 72,787 s/f free-standing Super Stop & Shop which was constructed in 1959 and renovated in 2000.
NorthMarq, headquartered in Minneapolis, offers commercial real estate services for investors, developers, corporations and tenants. The company provides mortgage banking and commercial loan servicing in 32 offices coast-to-coast, with an average of $7 billion in annual production volume and services a loan portfolio of nearly $40 billion. NorthMarq manages more than 60 million sq. ft. of retail, industrial and office space in 22 markets around the country and handles more than 7,500 leasing, sales and mortgage banking transactions annually. For more information, please visit www.northmarq.com.