G.S. Wilcox & Co. on Tuesday announced it has successfully arranged $110,500,000 in permanent financing for a high-performing five-building industrial portfolio located in Northern New Jersey.
The loan was arranged by President & Founder Gretchen Wilcox and Principal Al Raymond. The capital was secured through one of the firm’s correspondent life insurance companies and features an attractive seven-year fixed-rate, interest-only structure.
The five-building industrial portfolio spans over 800,000 square feet and was 97% leased at the time of closing, underscoring the strong demand for industrial space in the region.
“This transaction represented the second in the past six months with both this borrower and lender. It was a pleasure working with both parties to facilitate another successful closing,” Wilcox said.
The transaction comes as the Northern New Jersey industrial market continues to be a high-demand sector, driven by its strategic location near the Port of New York and New Jersey and its access to the largest consumer base in the U.S. While the market has shown signs of stabilization with a moderation in rent growth, strong tenant demand remains, particularly for high-quality, fully leased properties like the portfolio in question.
