With approximately 106,000 square feet of space – on top of several loading docks and multiple drive-in doors – an industrial site in Bergen County secured $13 million in financing.
The 20-year term loan was announced May 5 by G.S. Wilcox & Co., which arranged the funding for a repeat client through Mutual of Omaha, one of the Morristown-based firm’s correspondent life insurance company lenders.
G.S. Wilcox President Gretchen Wilcox, Principal Albert Raymond and Partner Bridget Wilcox worked on the deal. Neither the borrower, nor the property address was disclosed.
“G.S. Wilcox & Co. is pleased to deliver competitive financing on behalf of this repeat client with great execution from one of our long-standing lending relationships, Mutual of Omaha,” Wilcox said in a statement. “We were able to lock the rate in January when the 10-year treasury yield was well below 2.00%.”
The warehouse offers access to Bergen County’s densely populated – and affluent – neighborhoods, G.S. Wilcox said. Meanwhile, Route 17, Interstate 287 and the Garden State Parkway are all accessible within 10 miles.
Women-owned G.S. Wilcox & Co. has been providing debt and equity solutions to the commercial real estate sector for more than 28 years.