MERIDEN, CT – Andrew Stewart and Lisa McMahon have arranged permanent financing of $5,212,000 for a retail strip center located in Meriden, Connecticut The loan, which represents 72% of the appraised value, has a 10-year term amortized over 25 years at an interest rate of 5.64%.

The subject property, constructed in 2007, consists of a multi-tenanted retain building and a free-standing bank branch totaling 26,469 square feet. The center is leased to a variety of regional and national tenants including Starbucks, Cold Stone Creamery, AT&T, Aspen Dental, Hair Cuttery, Fed Ex/Kinko’s, Liberty Travel, and Pizza Hut. The property is shadow-anchored by Townline Square, a 312,809 square foot community center, with tenants including Old Navy, Chuck E. Cheese’s, Burlington Coats, Marshall’s, Shop Rite, and Pier One, located directly across the street.

The subject is located on Broad St/Route 5, roughly one-mile north of Exit 66 of the Wilbur Cross Parkway. Route 5 is a major commercial thoroughfare that travels north/south, connecting with I-691 two and a half miles to the north at Exit 8. Known as Connecticut’s silver city, Meriden was once a community dominated by manufacturing. The town has now become a thriving hub of business and industry. Situated between Hartford and New Haven and at the intersection of Interstates 91 and 691, as well as the Merritt Parkway (Route 15) and Route 5, Meriden benefits by extremely convenient access to major interstates and travel routes that pass throughout New England.