Washington Trust Provides $4.6 Million to 6 Wentworth Drive Owner, LLC
July 12, 2021
Hudson, NH - Washington Trust’s Commercial Real Estate Group recently provided $4.6 million in acquisition financing for the purchase of a 50,000 sf industrial building located at 6 Wentworth Drive in Hudson, New Hampshire. A new 10-year lease was recently negotiated for the entire building with kSaria, a fiber optic cable manufacturer.
Located just over the New Hampshire/Massachusetts state line in the Sagamore Industrial Park and less than 2 miles from State Route 3, the property provides good access to the I-93, 293 and 495 transportation corridors.
“We are pleased to provide financing to RJ Kelly for this industrial property that is within an asset class that is benefiting greatly from strong demand due to the continued increase in the e-commerce and logistics industry and limited supply,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
Founded in 1951, R.J. Kelly Co., Inc. (RJK) is a New England based (headquartered in Burlington, MA), vertically integrated commercial real estate firm. RJK has acquisition, development/re-development, entitlement, construction, leasing, and asset/property management expertise. The RJK portfolio consists of land, office, R&D/flex, industrial, retail, mixed-use, and self-storage properties, with holdings throughout New England and beyond.
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 Bethany Lyons, Vice President, Commercial Real Estate Group, at 401-348-1538.
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).