The Real Deal New York

Developer snags $3.3M in financing to build Old Saybrook retail project

February 06, 2019 04:31PM

The commercial real estate group at Washington Trust announced on Feb. 1 that it had provided $3.3 million in financing to construct a pair of retail sites in Old Saybrook. The funding for the property at 923 Boston Post Road in Connecticut’s Middlesex County will be used to construct a 15,000-square-foot building leased to home and garden retail center Agway, as well as a 2,000-square-foot space for a Dunkin’ Donuts store, according to Real Estate Weekly. 923 Boston Post Road Associates, an affiliate of Southport-based Anthony F. Izzo Commercial Real Estate Development and Management, secured the funding from Washington Trust. “This is a fabulous project bringing some important retail to the lovely town of Old Saybrook, with a design that is appropriate and in keeping with the area,” said a statement from Julia Anne Slom, head of Washington Trust’s commercial real estate team. [REW]