Washington Trust's Commercial Real Estate Group recently provided $3.5 million in construction financing to Highland Plaza, LLC, for property located at 438 North Franklin St. (Rte. 37), for the renovation of an existing 45,000 s/f shopping center. The renovation will include the relocation of the existing Family Dollar store, as well as construction of a standalone CVS Pharmacy, landscaping, and other aesthetic improvements to the plaza.
"Highland Plaza, LLC's renovation plans for this property make it an ideal location for a major retailer like CVS," said Joseph MarcAurele, Washington Trust president, chairman and chief executive officer, "The exterior renovations make it a much more pleasing space for the existing tenants."