G.S. Wilcox & Co. arranges $60 Million in financing for Watchung retail center
Watchung, NJ - G.S. Wilcox & Co. secured $60 million in financing for Watchung Square, a 560,000 s/f retail property in Watchung, New Jersey. The financing for the property was arranged by Gretchen Wilcox, president and founder, Bridget Wilcox, partner, and Al Raymond, principal, through a correspondent life insurance company lender of the firm.
The center is composed of three retail buildings with strong tenancy and leasing stability. The property, whose tenants include Stop & Shop, Walmart, TJ Maxx, Michaels, Ross Dress for Less, Staples, and PetSmart among others and additionally consists of outparcels occupied by Home Depot and Target, was constructed in 1999. The retail center, which sits along the highly trafficked Route 22 retail corridor, one of the highest-demand areas for retail in New Jersey.
“We are pleased to see the completion of this transaction on behalf of our repeat client. The attractive location and exceptional sponsorship drew strong lender interest, and we are encouraged to see the continued growth for retail investment in the area,” said Wilcox in a prepared statement.
