Marlborough, MA — Cornerstone Realty Capital recently arranged $2.7 million in financing for a 12,980 SF retail building in Marlborough, MA.
The property currently houses four tenants and is anchored by a Starbucks. Spaces currently range from 1,500 to 7,466 SF. The property includes 20 parking spaces on site, with two municipal structure parking lots bordering to the north and west.
Located in Middlesex County about equal distance between Boston and Worcester, Marlborough is the perfect city for a retail shopping center looking to attract prime business. The town has seen a lot of development over the years, bringing more businesses and residential locations into the area.
Interstate 495 and Route 20 intersect within the town, just a short distance from the property of subject. The property sits just off of the corner of Route 20 and Route 85 in a high-traffic area. Framingham, home to a number of world headquarters for major corporations like TJX Brands, Bose and Staples Inc., is approximately 20 minutes southeast of the property, while Westborough, home to major convenience store chain Cumberland Farms, sits about 15 minutes to the southwest.
Chris Bilotti, president at the Bilotti Group Inc., added that, “The team at Cornerstone delivered competitive financing terms and effectively worked with all parties to meet a tight timeline. They were a pleasure to work with.”
Cornerstone was able to deliver a fixed-rate financing structure with a thirty-year amortization.