G.S. Wilcox & Co. secures $26 million in financing for Blue Star Shopping Center

Watchung, NJ G.S. Wilcox & Co. has arranged $26 million in financing for the redevelopment of Blue Star Shopping Center. The loan was arranged by principal David Fryer through a life insurance company of the firm’s and features full-term, interest-only on highly attractive terms.

The 420,000 s/f Blue Star Shopping Center, for which Levin Management Corporation serves as managing and leasing agent, has completed Phase I of its multi-phase redevelopment. This initial stage was highlighted by the debut of a brand-new, expanded 72,000 s/f ShopRite, which serves as the property’s flagship anchor.

Phase II is actively underway, transforming the former ShopRite space to welcome Burlington and the relocation of Marshalls within the center. Recent additions to the property’s tenant mix include: Planet Fitness, KidStrong, Five Below and Taco Bell, with several additional dining options to be announced soon.

“We are pleased to have arranged this financing for our longstanding client and to once again deliver certainty of execution through one of our life insurance company relationships,” said David Fryer.