By Joshua Burd
The owner of a four-building, 570,000-square-foot industrial portfolio in Carlstadt has secured $49 million in financing, in a newly announced deal by G.S. Wilcox & Co.
According to a news release, a correspondent lender provided the debt with a five-year term and interest-only payments for the full term. G.S. Wilcox President Gretchen Wilcox and Principal David Fryer sourced the loan on behalf of a repeat client, which developed the portfolio in the 1980s and benefits from a location that’s within seven miles of the New Jersey Turnpike, routes 3 and 17 and Interstate 80.
The firm added the buildings, the addresses of which were undisclosed, have 22-foot clear ceiling heights, several loading docks and ample car parking.
“G.S. Wilcox & Co. is proud to arrange another financing for this valued client,” Wilcox said in a prepared statement. “Our client’s exceptional development and management capabilities are clearly displayed in these assets. Due to the high quality of the sponsorship, the location, and other factors, we were able to achieve the market’s best pricing.”