90-80 Route 206 in Byram Township — Courtesy: G.S. Wilcox & Co.
By Joshua Burd
G.S. Wilcox & Co. has arranged the refinancing of a grocery-anchored, 140,000-square-foot shopping center in Sussex County for $13.5 million, the firm announced.
The mortgage banking firm said it secured the financing for the property, located at 90-80 Route 206 in Byram Township, through Mutual of Omaha, a corresponding life insurance company lender. The G.S. Wilcox & Co. financing team represented the partnership of RoNetco Supermarkets Inc. and Gordon Construction, which developed the shopping center together in 1998.
“High-quality, grocery anchored shopping center financing is in high demand today by our lenders and Mutual of Omaha stepped up to win this business for an outstanding operator at a fixed rate of 3.26 percent with a 20-year fixed rate term,” said David Fryer, a principal of the Morristown-based firm.
The property is anchored by a state-of-the-art, 80,000-square-foot ShopRite and is 98 percent leased, Wilcox said in a news release. Other major tenants of the highly visible property include a McDonald’s, GNC LiveWell, Subway and Gamestop.
