Washington Trust's commercial real estate group provided $2.6 million in financing to 1086 North Colony, LLC for a two-suite retail center. The 1.13-acre property consists of a 7,500 s/f, multi-tenant convenience/retail center, which is scheduled for completion early this year. Pre-leased retail tenants include Verizon Wireless and DiBella's Old-Fashioned Submarine, Inc.
"This property is being developed by the experienced Tartaglia Commercial Properties group and is located on the east side of the heavily traveled, retail corridor of Rte. 5 in Wallingford just north of the Merritt Parkway," said Joseph MarcAurele, Washington Trust chairman, president and CEO.
Washington Trust's commercial real estate group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects.