Associated Bank completed the financing package for Sherwood Development Group for an automotive sales and service center in Buffalo Grove, Illinois.
The primary financing is for the build-to-suit development of a 50,720-square-foott single-tenant Tesla center at the southeast corner of Dundee Road and Old Arlington Heights Road in Buffalo Grove.
The site is the former location of a Rohrman auto dealership and has been vacant for more than 14 years.
The loan package also includes a separate loan to finance the acquisition and site work for a 10.58-acre adjacent land parcel that consists of 4.89 acres of zoned retail and 5.69 acres zoned residential.
