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G.S. Wilcox & Co. Secures $16M Refinance Loan For Flemington Shopping Center Anchored By ShopRite

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FINANCED
$16,000,000
Wesley Wilcox
Al Raymond

New Jersey

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Retail170,000 SF
Financed 11/07/2023
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Property Image
FINANCED

G.S. Wilcox & Co. Secures $16M Refinance Loan For Flemington Shopping Center Anchored By ShopRite

272 US Hwy 202/31 N

See Similar Deals
Retail170,000 SF
Financed 11/07/2023
Wesley Wilcox
Al Raymond
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$94
Total Square Footage:170,000 SF
Transaction Type:Loan

G.S. Wilcox & Co. has secured $16 million in financing for a retail property in Flemington. The property, located at 272 US Hwy 202/31 North, has a total area of 170,000 square feet and is situated in a high-visibility area along Route 202 in Hunterdon County. It is anchored by ShopRite and is currently 100% occupied.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $16,000,000
  • Address: 272 US Hwy 202/31 North
  • Market: Flemington
  • Loan Type: Refinance
  • Loan Terms: 10-year term and 25-year amortization with flexible prepayment

The loan, provided by an undisclosed life insurance company, offers flexible terms to the property owner. This financing supports the retail property's stability and success as it continues to operate at full occupancy. Al Raymond and Wesley Wilcox from G.S. Wilcox & Co. represented the borrower in securing this loan.

Players

Al Raymond
G.S. Wilcox
Al Raymond
4 deals$196M volume
BROKER
Wesley Wilcox
G.S. Wilcox
Wesley Wilcox
4 deals$164M volume
BROKER

Details

FINANCED
IMAGE: Al Raymond & Wesley Wilcox DATE: 11/07/2023 ADDRESS: 272 US Hwy 202/31 North MARKET: Flemington ASSET TYPE: Retail ~ SF: 170,000 BROKERS: Al Raymond & Wesley Wilcox - G.S. Wilcox & Co. LOAN AMOUNT: $16,000,000 LOAN TYPE: Refinance LOAN TERMS: 10-year term and 25-year amortization with flexible prepayment NOTE: G.S. Wilcox & Co. has secured $16 million in financing for a Flemington shopping center anchored by ShopRite. The loan, provided by an undisclosed life insurance company, has flexible terms and supports this 100% occupied, high-visibility property along Route 202 in Hunterdon County.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,000,000.00

Monthly NOI$106,666.67
Monthly Debt Service$101,130.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00