Washington Trust finances N.J. acquisition

SICKLERSVILLE, N.J. – Washington Trust Commercial Real Estate Group last week financed an acquisition in the amount of $6.825 million for a multi-tenant retail center in New Jersey.
The bank financed the acquisition for Cross Keys MZL LLC, which will take over a one-story, 12-unit commercial building with more than 88,000 square-feet of space, four stand-alone buildings totaling more than 19,000 square-feet and two undeveloped pad sites, according to a press release.
The center is anchored by the supermarket chain Acme Market.
Joseph J. MarcAurele, Washington Trust Co. chairman and CEO likes financial opportunity because of its location in the township of Gloucester.
“Being so close to the Altantic City Expressway and the Philadelphia suburbs, Gloucester Township is a prospering location for retail development,” MarcAurele said in a statement.

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