Allendale, NJ G.S. Wilcox & Co. has secured $13 million in financing for a warehouse building. The financing, arranged by Gretchen Wilcox, president, Albert Raymond, principal, and Bridget Wilcox, partner, was secured with a 20-year term at a highly competitive fixed rate. The deal was financed for a repeat client of the firm’s through Mutual of Omaha, one of the firm’s correspondent life insurance company lenders.
The warehouse building contains roughly 106,000 rentable s/f of space with numerous loading docks and multiple drive-in doors. The property features access to the densely populated neighborhoods of Bergen County. Route 17, I-287, and the Garden State Pkwy. are all within 10 miles.
“G.S. Wilcox & Co. is pleased to deliver competitive financing on behalf of this repeat client with great execution from one of our long-standing lending relationships, Mutual of Omaha. We were able to lock the rate in January when the 10-year treasury yield was well below 2.00%,” said Wilcox.