Washington Trust Provides $5.135 Million in Financing Property in Newington, CT
Monday, June 22, 2015
Commercial Real Estate Group recently provided $5.135 million to Newington LIR, LLC for the refinancing of a multi-tenant retail property in Newington, Connecticut.
"The tenants at the property are a strong complement to the other retail properties in this highly desirable retail corridor," said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust's Commercial Real Estate Group. "We are pleased to continue to work with the Tartaglia Family on this strong asset."
The 2.59-acre property includes a single-story, 25,093 square-foot retail building with parking for 120 vehicles. The building is currently separated into two units: a 6,723 square-foot section occupied by FedEx Office and an 18,370 square-foot section occupied by DSW Designer Shoe Warehouse. The spacious property is ideally located with good visibility on Rt. 71, at the intersection of Newington, West Hartford and Framingham. Set within a major retail corridor in central Connecticut, the building is easily accessible from Interstate-84 and Route 9 and benefits from its close proximity to nearby West Farms Mall.
Newington LIR, LLC is a single purpose Connecticut limited liability company owned by Tartaglia Commercial Properties, which manages a retail portfolio of more than 21 properties throughout Connecticut, including an 82,000 square-foot retail building adjacent to this property.
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