Washington Trust provides $5.2m refinancing for Silver Commons S.C.
Washington Trust's Commercial Real Estate Group has provided $5.2 million in financing to Meriden Retail, LLC for refinancing the Silver Commons Shopping Center, located along South Broad St. on Rte. 5.
The property consists of a multi-tenanted retail building and a free-standing bank branch totaling 26,260 s/f. The center is leased to a variety of regional and national tenants including Starbucks, Cold Stone Creamery, AT&T, Aspen Dental, Hair Cuttery, Fed Ex/Kinko's, Liberty Travel, and Pizza Hut.
"We wish Meriden Retail the best of luck with the Silver Commons Shopping Center, a complex that offers great retail shopping to the central Connecticut market," said Joseph MarcAurele, Washington Trust's president and chief operating officer.
West Roxbury, MA Prescott IOS has arranged an industrial outdoor storage lease for Eastern Bus Company at 151 Rivermoor St. David Skinner and Devon Wagner of Prescott IOS represented the tenant, while Caroline Munn nd Rob Byrne of CBRE represented the landlord, Feeney Brothers Real Estate. The 40,000 front foot site gives the bus operator secured yard space close to the routes it serves across Boston and the inner suburbs.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.