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Brokerage
Posted: December 18, 2018
Outside the Region: G.S. Wilcox completes $17.6 million financing for New Jersey warehouse
Morristown, NJ G.S. Wilcox & Co. has completed $17.6 million in financing for a warehouse building in Middlesex County.
The financing was secured by Gretchen Wilcox, president, and Albert Raymond, principal, with a 15 year term and 20 year amortization at a competitive rate. The deal was financed for a repeat client through Thrivent Financial, one of the firm’s correspondent life insurance company lenders.
The 28.31 acre site contains a one-story industrial building with 340,900 rentable s/f, of which 17,000 s/f is office space.
The warehouse can accommodate substantial transportation needs with 29 industrial trailer spaces, 40 exterior loading docks and four drive-ins on location. The site is just off of the New Jersey Turnpike and one hour’s drive from New York City or Philadelphia. It is located within the exit 8A submarket which has grown into one of the most active markets in the state.
“We value the opportunity to do business again with this client and are very impressed by the competitive rate Thrivent was able to offer,” said Wilcox.
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