Two of the four financing packages, amounting to a total of $11.4 million, were placed on a 306,000-sf, six-building industrial park located in Fairfield, NJ. The flex buildings are 100% leased and are currently being used by multiple tenants for warehousing and office purposes. As with all four of the recent transactions, the identities of the borrowers and additional terms of the financing were not disclosed.
Also in the northern part of the state, the firm arranged $3.5 million in financing for an 81,000-sf class A office building in East Rutherford. The property is located in the region's Meadowlands submarket.
The largest of the recent group of loans, meanwhile, came in Cinnaminson, NJ, in the southern part of the Garden State, encompassing a $12.1 million package that will benefit a 330,000-sf shopping center. The newly constructed community power center, which is made up of a total of five separate retail buildings, is anchored by Wal-Mart and Sam's Club stores.
G.S. Wilcox & Co. originates, underwrites and services commercial real estate mortgage loans. The company represents several life insurance companies on a correspondent basis and is currently servicing approximately $600 million in commercial loans.
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