Morristown-based G.S. Wilcox & Co. on Monday announced it arranged $16 million in financing for a ShopRite anchored shopping center in Flemington. The financing was secured by Partner Wesley Wilcox and Principal Albert Raymond. A non-disclosed life insurance company provided the loan on a 10-year term and 25-year amortization with flexible prepayment.
The property consists of roughly 170,000 square feet and has excellent visibility along highly trafficked Route 202. It has attracted an array of national and regional tenants thanks to the expertise of the ownership and its strong presence in this high-income section of Hunterdon County. The 100% occupied center is the dominant shopping center in its market.
“Given the volatility in the marketplace, G.S. Wilcox & Co. was still able to deliver competitive financing for this valued client. It was also a pleasure to close another loan with this lender who we’ve had a long-standing relationship with” Wilcox said.