Alan Doyle of Larew Doyle & Associates arranges $6.2MM in fixed rate financing for the acquisition of 146 South Main Street in Milford, Mass.

MILFORD, MA

Alan Doyle of Larew Doyle & Associates is pleased to announce the placement of a $6.2MM in fixed rate Acquisition & Construction Financing on this attractive 78,000 sf retail center anchored by Ace Hardware and Planet Fitness. This attractive property has excellent access along South Main Street and is within minutes of Interstate 495 and the Mass Turnpike.

The property is shadow anchored by Job Lot and Dollar Store which provides for strong consumer traffic to the center.   Besides the acquisition, the loan will also finance the construction of a new 7,500 sf tunnel style car wash which will bring the sponsor’s car wash portfolio to 23 locations throughout Massachusetts.

The loan was financed by a Massachusetts based regional bank which provided a 10-year fixed rate loan priced in the low 6% range.