News: Retail
Posted: December 24, 2008
O'Donnell and Eddy of Fantini & Gorga arrange $4.4m for Walgreens
Fantini & Gorga arranged $4.4 million in permanent financing for a recently completed Walgreens. The 14,550 s/f free standing drugstore sits on a little over 2 acres of land in downtown.
"We were pleased to be able to arrange this attractive long-term fixed-rate financing despite the turmoil in the credit markets," said Tim O'Donnell, principal of Fantini & Gorga, who placed the financing together with Joseph Eddy, managing director.
The property is located at 706 Broadway directly opposite the Broadway and School St. intersection.
The intersection was an excellent site for Walgreens due to the traffic signal and a high traffic count. Bangor has also experienced high retail growth over the past few years. The property has significant parking and a drive-thru window.
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