Morristown, NJ According to G.S. Wilcox & Co., it has arranged a $19 million loan for the class A office building, 1776 On the Green. The multi-tenant office building stands at ten stories and has a total of 145,358 s/f of rentable space with an additional 1,136 s/f of storage space. 1776 On the Green is located on 67 Park Pl., and is 79% leased.
The Morristown-based mortgage banker secured the financing over a 10-year term from Mutual of Omaha, a corresponding life insurance company lender of the firm. Gretchen Wilcox, president; Al Raymond, principal; and Wesley Wilcox, senior associate, handled the transaction.
“G.S. Wilcox & Co. is excited to have secured a loan for Vision Real Estate Partners. 1776 On the Green is an integral asset that will play a positive role in furthering Morristown’s rapidly expanding Downtown market.” Wilcox said.
Founded in 1994 by Gretchen Wilcox, G.S. Wilcox & Co. is a leader in the commercial real estate investment banking industry providing debt and equity solutions to developers, real estate private equity firms, institutional investors, and other owners of commercial real estate.