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40-Acre Plymouth Site Gets $3.5M for Development

Apr 6, 2018 | Reprints | Unlock Link | Print

A 40-acre parcel off Home Depot Drive in Plymouth has obtained $3.5 million in development financing from Eastern Bank.

Owner Harald LLC rezoned the land near Route 3’s exit 5 for commercial use and is installing roads and utilities with plans to subdivide it into up to six parcels for additional development.

Fantini & Gorga Senior Managing Director Casimir Groblewski arranged the financing.

The parcel is next to a large retail cluster including a 130,000-square-foot Home Depot, a Hilton Garden Inn, West Marine, Ethan Allen Furniture, Town Fair Tire, New Tokyo Japanese Restaurant, The Mattress Firm, Tufankjian Honda and 99 Restaurant.

“This assignment generated a significant level of interest from a variety of lenders, all of whom recognized the property’s excellent location and strong sponsorship. The result was an attractive and flexible loan facility which met my client’s requirements,” Groblewski said in a statement.

B&T Daily