G.S. Wilcox & CO

Real Estate Weekly, Jan 5, 2000

G.S. Wilcox & CO. recently financed a Class A office building located at 270 Sylvan Avenue in Englewood Cliffs, NJ for Denholtz Assoc. and The Zaro Group. The two-story, 132, 102 square-foot office building is located in one of the region's most appealing corporate environments, with easy access to the New Jersey Turnpike, I-95, I-80, Route 4, the Palisades. Interstate Parkway, The George Washington Bridge and Manhattan. The financing was arranged by Gretchen Wilcox and was provided through G.S. Wilcox & Co.'s correspondent relationship with GE Financial Assurance, the life insurance investment arm of General Electric. The $11.7 million, 10-year loan will amortize over a 25-year period with a fixed rate of 7.65 percent. "We were very happy to he able to assist Mr. Denhohz and Mr. Zaro with this refinancing. They have done a remarkable job managing and improving this asset since they acquired it," said Wilcox.

270 Sylvan features a distinctive travertine marble facade With reflective glass windows and landscaped grounds. Interior highlights include a three-story atrium lobby, custom-finished interiors and four passenger elevators. The fully sprinklered building offers floor plates that can accommodate users of all sizes, with units divisible to 2,000 square feet. Tenants at the property include American Pharmed, Bauer Publishing, Bay Tankers and Shengs Corp., among others.

Denholtz Associates and The Zaro Group often work as joint venture partners in the development, acquisition, ownership and management of a diverse portfolio of real estate assets, including, retail, commercial, office and industrial properties. Denholz Associates and The Zaro Group currently have in excess of 3.5 million square feet in joint ownership throughout the Northeast and Florida.