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G.S. Wilcox & Co. Secures $26 Million Loan For Blue Star Shopping Center Redevelopment In Watchung

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FINANCED
$26,000,000

New Jersey

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Retail420,000 SF
Financed 09/12/2025
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Property Image
FINANCED

G.S. Wilcox & Co. Secures $26 Million Loan For Blue Star Shopping Center Redevelopment In Watchung

1701 Us Route 22

See Similar Deals
Retail420,000 SF
Financed 09/12/2025
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$61
Total Square Footage:420,000 SF
Transaction Type:Loan

The property asset involved in the transaction is the Blue Star Shopping Center, located at 1701 US Route 22 in Watchung. This retail asset encompasses a total square footage of 420,000. A loan amounting to $26,000,000 has been secured for its redevelopment, structured as a full-term, interest-only loan.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $26,000,000
  • Address: 1701 US Route 22
  • Market: Watchung
  • Asset Square Footage: 420,000
  • Loan Terms: full-term, interest-only

David Fryer from G.S. Wilcox & Co. acted as the broker representing the loan transaction. The redevelopment's Phase I has introduced a new ShopRite of 72,000 square feet and Phase II will include additional retailers such as Burlington, a relocated Marshalls, and new tenants including Planet Fitness, Five Below, and Taco Bell.

Players

David Fryer
G.S. Wilcox
David Fryer
6 deals$215.6M volume
BROKER
G.S. Wilcox
G.S. Wilcox
BROKERAGE

Details

FINANCED
IMAGE: David Fryer DATE: 09/12/2025 ADDRESS: 1701 US Route 22 MARKET: Watchung ASSET TYPE: Retail ~ SF: 420,000 BROKER: David Fryer - G.S. Wilcox & Co. LOAN AMOUNT: $26,000,000 LOAN TERMS: full-term, interest-only NOTE: G.S. Wilcox & Co. secured a $26M full-term, interest-only loan from a life insurance company for the 420K SF Blue Star Shopping Center redevelopment in Watchung. Phase I delivered a new 72K SF ShopRite, while Phase II will add Burlington, a relocated Marshalls, and new tenants including Planet Fitness, Five Below and Taco Bell.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$26,000,000.00

Monthly NOI$173,333.33
Monthly Debt Service$164,337.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00