By Joshua Burd
The owner of more than 30,000 square feet of new industrial space in Piscataway has landed $5.7 million in financing, in one of two newly announced deals by G.S. Wilcox & Co.
David Fryer, a principal with the mortgage banking firm, arranged the debt through a correspondent lender, noting that the recently completed, single-tenant building near Interstate 287 has a 35-foot clear ceiling height and six loading docks. The loan has a 12-year term and 30-year amortization with flexible prepayment.
In the second deal, Fryer secured $10.6 million to refinance a 34,877-square-foot shopping plaza in East Farmingdale, New York, which consists of a 6.9-acre lot with four retail buildings. Another correspondent lender originated the transaction, which comes with a 15-year term and 30-year amortization.
“Thank you to our valued clients for their continued support,” Fryer said. “Capital remains available for well-located properties such as these.”