TAUNTON, MA-AGAR Headquarters, a 326,000-square-foot industrial facility is securing $18 million from People's United Bank to refinance a maturing loan on the property. Located in the Miles Standish Industrial Park, 225 Hancock Rd. is solely tenanted by AGAR, an independent food service distributor.
The class A facility was built in 2000 and expanded in 2010 by 54,000 square feet. The loan covers the new construction as well as the maturity of an original loan on the property. The refi is long-term fixed-rate and was secured by Robert Herron, senior managing director of Holliday Fenoglio Fowler, L.P. representing AGAR.
The expansion was a reaction to a higher demand of independent restaurants in New England. People's United is a subsidiary of People's United Financial, Inc. with 340 branches throughout New England, New York and Connecticut.
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