Morristown-based commercial real estate mortgage banking firm G.S. Wilcox & Co. has successfully arranged a $15,500,000 construction loan for a mixed-use property in Mount Arlington.
The financing package was negotiated by a deal team consisting of Gretchen Wilcox, President and founder; Al Raymond, principal; and Vincent Puccio, financial analyst.
The ambitious development project will transform an existing retail asset into a dynamic live-work-shop community tailored for modern renters. Upon completion, the multi-building property will feature:
- 80 newly constructed multi-family apartment units housed across two 5-story buildings.
- 38,000 square feet of retail space, which is already nearly fully occupied.
- Modern resident amenities, including dedicated co-working spaces, private storage units, and a centralized package pickup area.
“We are pleased to see the completion of this transaction on behalf of our repeat client,” Wilcox said. “The attractive location as well as established retail-occupied space attracted those wanting to invest, and we see this as a positive sign of growth in the community.”
Strategically positioned in Morris County, the development offers exceptional accessibility for future residents. The property boasts immediate access to three major New Jersey east-west arterials—Interstate 80, Route 10, and Route 46. Additionally, its close proximity to the Mount Arlington NJ Transit station provides direct rail and bus service to New York Penn Station, making it an ideal hub for commuters.
