Old Saybrook, CT Washington Trust’s Commercial Real Estate Group provided $3.3 million to 923 Boston Post Road Associates, LLC, for the construction and financing of two free-standing retail sites. Site improvements will include the construction of a one-story, 15,000 s/f retail building to be leased by retail garden center, Agway, and a 2,000 s/f pad site for a Dunkin Donuts.
The property is part of the Oyster River Shopping Center, located on Boston Post Rd., CT US Rte. 1.
“This is a fabulous project bringing some important retail to the lovely town of Old Saybrook, with a design that is appropriate and in keeping with the area,” said Julia Anne Slom, senior vice president & team leader of Washington Trust’s Commercial Real Estate Group. “We are very pleased to be working with Mr. Izzo on this project.”
923 Post Road Assocs. is a Connecticut single asset limited liability company of Anthony Izzo Commercial Real Estate Development and Management.
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and