Updated Sep 10, 2026
G.S. Wilcox & Co Secures $60 Million Loan For Watchung Square Retail Center In Watchung NJ
1515 Us Highway 22
$60,000,000
$107/SF
Building Size
560,000 SF
Asset Type
Retail
Closing
Sep 9, 2026
About this deal
AI
Watchung Square is a retail center located at 1515 Us Highway 22, Watchung, NJ, encompassing a total area of 560,000 square feet. The property was financed for $60,000,000, featuring key tenants including Stop & Shop, Walmart, TJ Maxx, Michaels, Ross Dress for Less, Staples, PetSmart, Home Depot, and Target outparcels.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $60,000,000
- Address: 1515 Us Highway 22
- Market: Watchung, NJ
- Asset Size: 560,000 SF
- Broker Representatives: Gretchen Wilcox, Al Raymond & Bridget B. Wilcox - G.S. Wilcox & Co
G.S. Wilcox & Co. facilitated the financing through a correspondent life insurance company lender, enabling the transaction for the retail center that hosts several major retailers.
Players
Highway Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93