By Joshua Burd
The owner of a 221,000-square-foot warehouse in Elizabeth has secured $17 million in financing, in a newly announced transaction by G.S. Wilcox & Co.
The commercial mortgage banking firm, which is based in Morristown, sourced the financing on behalf of a private borrower for an undisclosed location. Vice President Wesley Wilcox and Principal Al Raymond completed the assignment, with Mutual of Omaha providing the loan as a correspondent life insurance company lender of G.S. Wilcox.
“G.S. Wilcox & Co. is pleased to secure this financing on behalf of our client,” Wilcox said. “Given the current situation with COVID-19, we were thrilled to be able to close this loan especially with the increased necessity for distribution space in our market.”