G.S. Wilcox & Co. said Thursday that it helped secure $8.5 million in financing for an 86,150-square-foot multitenant industrial building in Teterboro.
The loan, arranged for an entity affiliated with the Hampshire Cos., features flexible prepayment and a 30-year amortization after an interest-only period.
The financing, arranged by Gretchen Wilcox, president, and Al Raymond, principal, was secured through Mutual of Omaha, an exclusive correspondent lender.
The 1960s-constructed building houses 21 tenants and offers quick access to Interstate-80, Routes 17 and 46, and the New Jersey Turnpike.
“Mutual of Omaha was able to provide very competitive financing while adapting to a unique borrowing structure and other obstacles. Lenders still have a strong appetite for industrial buildings in easily accessible locations such as this,” Wilcox said in a prepared statement.