By Joshua Burd
G.S. Wilcox & Co. has brokered $17.6 million in financing for the owner of a nearly 341,000-square-foot industrial building in the Exit 8A submarket.
The commercial mortgage banking firm, which is based in Morristown, announced Tuesday that it completed the transaction on behalf of a repeat client. The company did not identify the property’s address, but described it as a one-story warehouse just off the New Jersey Turnpike.
G.S. Wilcox President Gretchen Wilcox and Principal Albert Raymond secured the loan through Thrivent Financial, one of its correspondent life insurance company lenders, according to a news release. The financing has a 15-year term and 20-year amortization at a very competitive rate.
“We value the opportunity to do business again with this client and are very impressed by the competitive rate Thrivent was able to offer,” Wilcox said in a prepared statement.
The firm also noted that the warehouse can accommodate substantial transportation needs with 29 industrial trailer spaces, 40 exterior loading docks and four drive-ins on location. The 28.31-acre site is an hour’s drive from New York City or Philadelphia.
