Commercial Real Estate Group recently provided $2.8 million in financing to 1304 Washington Street, LLC of Pittsford, N.Y. for a newly constructed 11,326 s/f Kinney Drug Store.
1304 Washington Street, LLC, managed by Robert Morgan, was formed for the purpose of owning the newly constructed commercial building which has been leased to Kinney Drugs. Kinney Drugs is one of the leading regional drug chains in the country.
"Kinney Drugs is a well established business in New York, offering quality pharmacy, health, and retail services," said John Warren, Washington Trust chairman and CEO. "We wish Mr. Morgan well with the expansion into Watertown."
Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for construction of, refinancing of, or purchasing investment real estate projects.