With approximately 106,000 square feet of space—plus multiple loading docks and multiple entrance gates—a Bergen County industrial site secured $13 million in funding.
The 20-year term loan was announced May 5 by GS Wilcox & Co., which arranged funding for a repeat customer through Mutual of Omaha, one of the company’s correspondent lenders. Morristown-based company life insurance.
GS Wilcox president Gretchen Wilcox, senior manager Albert Raymond and partner Bridget Wilcox worked on the deal. Neither the borrower nor the address of the property have been disclosed.
“GS Wilcox & Co. is pleased to provide competitive financing on behalf of this repeat client with excellent execution from one of our longstanding lending relationships, Mutual of Omaha,” Wilcox said in a statement. “We were able to lock in the rate in January when the 10-year Treasury yield was well below 2.00%.”
The warehouse provides access to densely populated – and affluent – neighborhoods in Bergen County, said GS Wilcox. Meanwhile, Route 17, Interstate 287, and the Garden State Parkway are all accessible within a ten-mile radius.
GS Wilcox & Co., a women-owned company, has been providing debt and equity solutions to the commercial real estate industry for over 28 years.