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47,000-SF Stop & Shop Refinances, Plans Expansion

BEVERLY, MA-A $5-million loan was arranged for Enon Street Realty Trust for the Stop & Shop store on Enon Street. Enon also purchased a parcel of adjacent land which will allow Stop & Shop to expand its store.

By Naomi Grossman | Updated on October 03, 2004

BEVERLY, MA-A $5-million first mortgage loan was secured for the Stop & Shop store at 29 to 35 Enon St. Suburban Capital Markets, Inc. wrote the loan to Enon Street Realty Trust of Topsfield, MA. The proceeds of the loan were used for the refinancing of the property. Suburban Capital Markets originated and underwrote the loan, which was subsequently sold for future securitization.

The purchase will allow Stop & Shop to expand its store which it says will be “in conformity with the company’s standard new superstore concept.” The expansion of the store involves an additional 12,000 sf.

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