Commercial Lending, Commercial Real Estate, Commercial Banking

Washington Trust Provides $6.6 Million in Financing for Multi-Tenant Commercial Property in Trumbull, CT

March 19, 2018

March 19, 2018

Trumbull, CT – 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.


ABOUT WASHINGTON TRUST
Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.

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