Office/Retail Complex Secures $4M Refinancing Deal

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WESTPORT, CT-The ownership of Nash’s Plaza, a 29,000-sf office/retail complex at 175-181 Post Rd. West here, has secured a $4.2-million refinancing deal. The four-building complex includes a historic 18th-century colonial building that has been converted to multi-tenant office use.

The Westport office of Holliday Fenoglio Fowler arranged the refinancing transaction for Nash’s Plaza, LLC that involved a 10-year secured fixed rate loan through IDS Life Insurance Co. Nash’s Plaza is operated and leased by Roger Leifer, a noted Fairfield County investor who has 19 office and retail properties under management. Holliday Fenoglio Fowler managing director Al Epstein and director Christine Riniti worked on the deal.

Nash’s Plaza is 99% leased to a total of 29 retail and office tenants. Among the tenants at the complex are Beverly Ellsley Designs, Ceramic Designs, John Dougherty Accountants and Platinum Real Estate. The building, which faces Route 1, has parking for 82 vehicles.

HFF officials say that the ownership of Nash’s Plaza has spent more than $1 million in capital upgrades to the property over the past three years. “The property has a New England motif and much has been invested to give it great charm and comfort,” Riniti says. “An office tenant can expect a highly-finished workspace, as well as the convenience of going to the adjoining building to pick up a salad or his restrung tennis racket.”