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LEOMINSTER, MA-Lisciotti Development Corp. has received a $35.2-million loan to refinance the Orchard Hill Park retail center. GE Real Estate, an affiliate of GE Commercial Finance, provided the loan for the $60-million, 191,000-sf park. The project, located on Route 2 in Leominster, is expected to be complete in the spring of 2007.

Greg Lisciotti, owner of Lisciotti Development Corp., tells GlobeSt.com that the financing, provided by GE Real Estate, an affiliate of GE Commercial Finance, will go to pay off a construction loan on the project.

The center’s anchors opened last October. Kohl’s, Dick’s Sporting Goods and Bed, Bath & Beyond anchor the retail center. The entire complex is 95% leased, says Lisciotti. Other tenants include Verizon Wireless, Game Stop, Chili’s Restaurant and Payless ShoeSource.

The developer recently completed the project’s 125,000-sf Target and is currently wrapping up construction on the 30,000-sf Best Buy and two freestanding restaurants; Olive Garden and TGI Friday’s.

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