12C — May 25 - June 7, 2018 — Industrial / Distribution Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
I ndustrial R eal E state & D istribution C enters Thrivent Financial for Lutherans provides financing G.S. Wilcox & Co. secures $27.2 million financing for New Jersey industrial portfolio C entral NJ — G.S. Wilcox & Co. has se- cured $27.2 million in for Lutherans , one of the firm’s correspondent lenders, provided the financing.
investors, and other owners of commercial real estate. Head- quartered in Morristown, NJ, the company remains the only female-founded commercial real estate mortgage banking firm in the United States. Equilibrium Equities acquires of 270,000 s/f distribution center ELMIRA HEIGHTS , NY — An affiliate of Equi- librium Equities, Inc. of Blue Bell, PA has acquired a distribution center of ap- proximately 270,000 s/f on 12.4 acres located at 340 Upper Oakwood Ave. in El- mira Heights (Corning area), Chemung County, New York for an undisclosed sum. The property is 1.6 miles fromExit 52A of Interstate 86. Equilibrium will immedi- ately rebrand 340 Upper Oak- wood Ave. as a multi-tenant distribution facility called “Victory Business Center.” The project has 45 tailgate loading doors and ceiling clear heights ranging from 18’ to 28’. Planned renovations will include improved exterior aes- thetics, roof replacement and repairs, lighting and signage upgrades, interior demolition, minor building system repairs and enhancements to dock doors/equipment. Leasing and renovation activity at Victory has already commenced. The property is presently over 70% leased, but suites from 9,000 to 60,000 s/f are still available. The building was originally constructed in 1962 as a gro- cery distribution warehouse by the S.M. Flickinger Company. Flick- inger was a large grocery distributor specializing in independently owned gro- cery franchises. Equilibrium acquired the property from a former owner of Horwitz Paper, which was a large wholesale distributor of pa- per products and janitorial supplies that had acquired it from Flickinger in 2001. After Horwitz Paper vacated, a for- mer partner of Horwitz rented out the building to various tenants on a short-term basis. The seller in this transaction to Equilibrium was repre- sented by Michael Manzari of Cushman & Wakefield / Pyramid Brokerage .
financing for a three building industrial portfolio located in Central New Jersey. The 410,000 s/f portfolio consisted of two recently constructed warehouse distribution prop- erties and one existing facility located along the I-287 cor- ridor. The loan was fixed at a rate of 4% for 20 years, with a 30 year amortization and was arranged by Gretchen S. Wilcox , president, Al Raymond , principal and Wesley Wilcox , senior as- sociate. Thrivent Financial
“G.S. Wilcox & Co.’s long standing relationship with Thrivent Financial allowed us to fix such a low rate over an extended term for a re- peat borrower of the firm’s.” Wilcox said in a prepared statement. Founded in 1994 by Gretch- en Wilcox, G.S. Wilcox & Co. is a leader in the commercial real estate investment bank- ing industry providing debt and equity solutions to de- velopers, real estate private equity firms, institutional
Shown from left: Al Raymond, Joe Smerdon, David Fryer and Gretchen Wilcox.
Recent Transactions
$27,200,000 3 Building Industrial Portfolio of 410,000 sf Piscataway & Woodbridge, NJ
$56,000,000 6 Building Industrial Portfolio of 1,156,000 sf Meadowlands, NJ
$18,200,000 321,762 sf Industrial Building Moonachie, NJ
$43,400,000 270 Unit Apartment Project New Windsor, NY
$19,000,000 147,806 sf Multi-Tenanted
$6,200,000 114,168 sf Industrial Building Wayne, NJ
Office Building Morristown, NJ
$16,000,000 41,840 sf
$16,000,000 234,204 sf Industrial Building Hanover, NJ
$13,500,000 Shop-Rite Anchored Shopping Center Byram, NJ
Office Building Morristown, NJ
G.S. WILCOX & CO. | Achieving Objectives for Our Clients. 365 South St. Morristown, NJ 07960 Office: (973) 538-0008 x115 | www.gswilcox.com
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