Jowamar Companies Redevelops Vacant Buildings Into Mixed-Use Property In Lawrence With $6.57M Loan Financing From MassDevelopment And Reading Cooperative Bank

115-123 Essex Street & 125 Essex Street, located in Lawrence, MA, are two vacant buildings that are set to be redeveloped into a new five-story mixed-use property. The redevelopment project is being undertaken by 115-125 Essex Street LLC, an affiliate of Jowamar Companies. The property will have a total loan financing of $6.57 million, provided by Reading Cooperative Bank and MassDevelopment.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $6,570,000
• Lender: Reading Cooperative Bank & MassDevelopment
• Landlord: Affiliate of Jowamar Companies

In collaboration, MassDevelopment and Reading Cooperative Bank have come together to provide loan financing for the redevelopment project of 115-123 Essex Street & 125 Essex Street. The aim is to transform these two vacant buildings into a new mixed-use property. The redevelopment will bring new life to the area and contribute to the revitalization of Lawrence, Massachusetts.