Executive VP David M. Douvadjian and assistant VP Thomas F. Welch of Meredith & Grew's Finance and Capital Markets Group procured the loan from a Massachusetts community bank.
The one-story mall is located at Exit 12 off Route 3 on the borders of Pembroke, Hanover and Marshfield. The property is currently 100% leased with tenants including Blockbuster and H&R Block. It is surrounded by the 30,200-sf Brigantine Village that Great Island purchased this past August. The two malls sit on a 19-acre parcel.
The company is currently in the permitting phase to build a Lowe's Home Improvement Center on excess land behind the village. The store would be over 100,000 sf and the company anticipates that it will make the village more attractive to a wider range of tenants.
Great Island also owns the North River Plaza, which is located across the street from the two malls.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
