G.S. Wilcox & Co. Secures $25 Million Loan For Clifton And Fair Ground Plaza Retail Properties
New Jersey
See Similar DealsG.S. Wilcox & Co. Secures $25 Million Loan For Clifton And Fair Ground Plaza Retail Properties
1006 US Route 46 & 555 High Street
See Similar DealsSummary
The transaction involves two retail properties located at 1006 US Route 46 and 555 High Street, within the Clifton and Mount Holly markets. The total asset size is 273,754 square feet. The financing secured for these properties amounts to $25,000,000, with the specific breakdown of $13 million allocated for Clifton Plaza, which is fully leased, and $12 million for Fair Ground Plaza, currently 90% occupied, featuring major tenants such as Big Lots and Acme Markets.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $25,000,000
- Address: 1006 US Route 46 & 555 High Street
- Market: Clifton & Mount Holly
- Square Feet: 273,754
- Landlord: David Fryer - G.S. Wilcox & Co.
- Loan Amount for Clifton Plaza: $13,000,000
- Loan Amount for Fair Ground Plaza: $12,000,000
- Clifton Plaza Occupancy: 100%
- Fair Ground Plaza Occupancy: 90%
The key individuals in this transaction include David Fryer, representing the landlord, and G.S. Wilcox & Co., which facilitated the financing of the properties. The significant occupancy levels of both properties indicate a strong tenant base, indicating stability within the market.
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