CB Richard Ellis' Connecticut/Westchester office arranged $4.7 million in permanent financing for 1876 Black Rock Turnpike, a 7,500 s/f retail center.
Bill Catanzaro of CBRE Capital Markets arranged the financing on behalf of Miro 1876 Associates, LLC, a long-term client. "We are pleased to have met our client's objectives by providing great terms on long-term, fixed-rate financing" said Catanzaro.
1876 Black Rock was razed in early 2007 and redeveloped in the fall of 2007. What once was the Miro Farms building has been transformed from an older retail strip center to a modern building appealing to tenants. 1876 Black Rock is now the home of Citibank and Cohen Optical.
The stretch of Black Rock Turnpike where the property is located is a retail destination. In between the Merritt Parkway and exit 24 off I-95, this location has always attracted many retail neighbors due to high traffic.