G.S. Wilcox & Co. on Tuesday announced it completed $30.5 million in financing for a speculative industrial building in Middlesex County.
The financing was secured by Bridget Wilcox, partner, and Albert Raymond, principal. The financing was provided by a West Coast-based bank, which G.S. Wilcox & Co. introduced to the borrower.
The project features quick access to Route 9, which connects to both Interstates 287 and 95. Furthermore, the Port of Newark/Elizabeth is just 20 miles from the property. When completed, the 152,000-square-foot development will have 36-foot clear ceiling heights, 22 dock doors along with abundant trailer and car parking.
“G.S. Wilcox & Co. is pleased to deliver competitive financing on behalf of this repeat client. Despite the pullback in construction lending, viable financing remains available for top sponsors,” Wilcox said in prepared statement.