MARCONE CAPITAL SECURES $9.3 MILLION RETAIL CONSTRUCTION LOAN
WORCESTER, MASS. — Marcone Capital has secured a $9.3 million construction loan for a 58,114-square-foot retail center to be located at 514, 542 and 558 Southbridge St. in Worcester. Construction will comprise three single-story buildings on a 3.16-acre parcel. The largest building, which totals 36,050 square feet, has been leased on a long-term basis to Price Rite. The other two buildings are currently available for lease. Mike Marcone of Marcone Capital arranges the financing on behalf of the borrower, 542 Southbridge Street LLC. The loan was provided by a national bank. Construction of the retail center will be complete within the next few months.