Lauren O’Neil(JLL) Of Centreville Bank Closes $7.5M Retail Loan In Newburyport

The Pond Street Mall, a 28,164-square-foot retail center in Newburyport, Mass., recently received a $7.5 million refinancing loan from Centreville Bank. The property, located at 13 ½ Pond St., sits on 2.4 acres and is anchored by CVS. Other tenants at the neighborhood center include Panda Dry Cleaners, YWCA, and People’s United Bank.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $7,500,000.00
• Address: Pond St, Newburyport, MA, 01950
• Market: Newburyport
• Borrower's Rep: Lauren O’Neil(JLL)
• Lender: Centreville Bank

Lauren O’Neil of JLL represented the borrower in securing the refinancing loan for the Pond Street Mall. Alongside her was Director Martha Nay. On the lender side, Craig Schermerhorn, the vice president of commercial lending at Centreville Bank, was instrumental in providing the long-term, fixed rate, non-recourse loan for the property.