TRUMBULL, Conn., March 19, 2018 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided $6.6 million to CH Commerce Drive Associates, LLC, and City Park Commerce Drive, LLC, for the refinancing and tenant improvements of a multi-tenant office/industrial property in Trumbull, Connecticut.
Formerly the North American headquarters of the Pilot Pen Corporation, the 14 acre property, located at 60 Commerce Drive in Trumbull, consists of two inter-connected buildings totaling 83,193 square-feet of space. The front building of the property is comprised of three levels totaling 15,505 square-feet of office space, while the rear building includes 67,688 square-feet of both office and industrial space. The property’s campus-like setting features two aerated ponds, outdoor patios, and extensive plantings and landscaping throughout.
“Washington Trust is very pleased to be part of CH Commerce Drive Associate’s transformation of this significant property,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “In an idyllic setting, our client has done significant upgrades and redevelopment of the buildings, making them ready for current tenancy. Well located, this opportunity fits well with Cambridge Hanover’s expertise in transforming underutilized space into functional, attractive and well leased properties.”
60 Commerce Drive is owned by CH Commerce Drive Associates, LLC, and City Park Commerce Drive, LLC, and managed by Cambridge Hanover, Inc., a privately held industrial real estate investment firm headquartered in New Canaan, CT.
Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Timothy Pickering, Senior Vice President, Commercial Real Estate Group, at 401-348-1482 or 1-800-475-2265 ext. 1482.
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