Washington Trust’s Commercial Real Estate Group recently provided $3.3 million to 923 Boston Post Road Associates, LLC, for the construction and financing of two free-standing retail sites in Old Saybrook, Connecticut.
Site improvements will include the construction of a one-story, approximately 15,000 s/f retail building to be leased by retail garden center, Agway, and an approximately 2,000 s/f pad site for a Dunkin Donuts store.
The property is part of the Oyster River Shopping Center, located on Boston Post Road, CT US Route 1, in Old Saybrook.
Vacant for four years, the former bowling alley at 923 Boston Post Road is being transformed into a new retail development.
“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 M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
923 Post Road Associates, LLC is a Connecticut single asset limited liability company of Anthony F. Izzo Commercial Real Estate Development and Management.