The 97% leased one-story strip retail center, which sits on nearly 11 acres, was originally constructed in 1973. The property consists of three one-story buildings. The largest of the three is 87,781 sf and leased to two tenants, one of which is a 56,634 sf Armatron. The second retail strip building consists of 57,128 sf leased to Cambridge Eye Doctor, Weight Watcher's and Lappen's Discount Auto among others. The third building is a 1,600 sf pad site leased to Dunkin' Donuts. In addition, there are 597 parking spaces.
June K. Fish, a partner at Ashworth who placed the mortgage, notes that "The management of Townline has been excellent and the owners/principals were a special incentive to our CMBS lender to make the sub 150 spread over the ten-year treasury loan."
The Newton, MA-based Ashworth specializes in the placement of debt and equity financing for all types of commercial real estate.
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