Thursday, December 8, 2011

BJ's For Sale in Oaks, PA

Marcus & Millichap Real Estate Investment Services has been awarded the exclusive BJ's Wholesale Club located at The Marketplace at Oaks in Oaks, PA, is being listed for sale. It is a 119,689-square-foot, absolute net-leased. The asking price is $27,620,538 or $230/sf.

BJ's has almost 13 years remaining on a triple-net lease with an impressive 8 percent rent increase every five years according to the brokers, with the next increase set to occur in November 2014.

While BJs doesn't report individual sales for this location at this time, it is believed the store is well performing due to the demographics in the area. It is located just off the expanding Route 422 corridor and was constructed in 2008 as a build-to-suit for the tenant. The 2 million-square-foot Marketplace at Oaks shopping center is co-anchored by a Lowe's Home Improvement, Target, and Regal Cinemas.

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