By Joshua Burd
Hartz Mountain Industries has expanded its out-of-state portfolio, acquiring 12 industrial buildings in Atlanta with nearly $16 million in financing arranged by G.S. Wilcox & Co.
The Morristown-based mortgage banking firm said Thursday that it represented Hartz in the transaction, which was financed by Advantus Capital. Gretchen S. Wilcox, president, and Al Raymond, principal, arranged the $15.8 million in financing.
Located in Atlanta’s infill industrial submarket, the portfolio was 92 percent leased at the time of the acquisition and provides stable cash flow for the new owner, Wilcox said.
“G.S. Wilcox & Co. is thrilled to play a part in the continued expansion of Hartz Mountain’s national industrial portfolio,” Wilcox said in a prepared statement.