Washington Trust provides $20.67 million to Linear Retail Properties for the financing of Eaglewood Shops

Eaglewood Shops, 175 Turnpike Street - North Andover, MA

North Andover, MA Washington Trust’s Commercial Real Estate Group recently provided $20.67 million to Linear Retail Properties for the financing of Eaglewood Shops, a 77,558 s/f shopping center located at 175 Turnpike St.

Julia Anne Slom, Washington Trust

Eaglewood Shops is a class A retail center comprised of three buildings across 13 acres and is anchored by Staples. The fully leased center also includes Burton’s Grill, Pier 1 Imports, Jos. A. Bank, Chico’s, Chipotle, b.good and other national and regional retailers. Built in 2005 along Rte. 114, it is situated at the primary retail corridor of North Andover. Linear Retail acquired the Shops in June 2015.

“We are very happy to be able to continue to work with our longtime client Linear Retail,” said Julia Anne Slom, senior vice president & team leader of Washington Trust’s Commercial Real Estate Group. “This strategically placed center has a good mix of strong tenants that draws a large and diverse shopper mix from the surrounding communities.”

Linear is a leading acquirer, owner, developer and operator of 79 retail properties throughout eastern MA, southern NH and R.I.

Eaglewood Shops, 175 Turnpike Street - North Andover, MA

Washington Trust’s commercial real estate group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects.

Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc.