Plastic City Power Center Refinances Debt

Orchard Hill Park, Leominster

Lisciotti Development has obtained $33.5 million in financing for Orchard Hill Park, a 190,000-square-foot power center in Leominster.

Colliers International Boston’s John Broderick and Patrick Boyle secured the 10-year fixed-rate loan from JPMorgan Chase Bank, N.A. The property attracted widespread interest in the CMBS market, Broderick said in a statement.

Developed in 2006, the 98-percent occupied property is anchored by Kohl’s, Bed Bath & Beyond and Dick’s Sporting Goods and includes a Chili’s, Verizon Wireless, Vitamin Shoppe, Great Clips, and Cold Stone Creamery. It is shadow-anchored by Target, Best Buy, Olive Garden and T.G.I. Friday’s.

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Plastic City Power Center Refinances Debt

by Steve Adams time to read: <1 min