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Financing Arranged for Office Buildings in Popular Suburban Market

CHELMSFORD, MA-Financing was arranged for four first class office buildings here right off Route 495 in a deal that went smoothly thanks to the growing interest in this location.

By Naomi Grossman | Updated on November 13, 2000

CHELMSFORD, MA-First mortgage financing in the amount of $6,050,000 was arranged for four first class office buildings here on 1 to 4 Meeting House Road. The buildings total 82,413 sf of space.

The location is about a half mile from Routes 3, 110 and 495 and approximately 18 miles from Downtown Boston. The buildings are fully built out and are wired for high-tech companies. They are 100% leased with clients such as AG Edwards, Saints Memorial Hospital and Manpower.

“Rents are rapidly escalating in this area,” Casimir Groblewski, director at Spectrum Financial Corp., tells GlobeSt.com. Spectrum arranged the mortgage with Sun Life Assurance Company of Canada, which Spectrum represents as correspondent. The deal, adds Groblewski, went relatively smoothly. “The quality and location of the property encouraged the lender to respond quickly.”

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