Riccio and Kubas of CBRE Capital Markets arrange $7m loan for DeMattia Companies

The Hartford office of CBRE Capital Markets Debt & Equity Finance division has arranged $7 million, 5-year fixed-rate financing for 550 Marshall Phelps Rd. The property is a high quality industrial building containing 221,213 s/f. Michael Riccio, senior vice president, along with Christine Kubas, vice president, both of CBRE's Capital Markets group in Hartford, secured the loan on behalf of the industrial owner, 550K Marshall Phelps Road, LLC, an affiliate of The DeMattia Companies, Inc. The lender was CIGNA Realty Investors. 550 Marshall Phelps Rd. was constructed in 1982. The building has 84,000 s/f of office space and was constructed with concrete block and dryvit with a 6" reinforced concrete floor. The building has frontage along Marshall Phelps Rd. and is located in the Day Hill Rd. corporate area. The complex is situated on 29.75 acres with expansion potential for an additional 70,000 s/f. The property is located on the west side of Marshall Phelps Rd. with three points of ingress/egress to the property. Marshall Phelps Rd. can be accessed via Day Hill Rd. to the south or from Rte. 75 to the north.