The Boston office of Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale of a 108,510 s/f BJ's Wholesale Club and arranged the acquisition financing.
HFF's Coleman Benedict and Ben Sayles exclusively represented the seller, National Development, and procured the 1031 exchange buyer in the $13.667 million, off-market transaction. HFF senior managing director Fred Wittmann subsequently secured a $7.5 million, fixed-rate acquisition loan through Flagship Bank.
The property was constructed in 2000 and BJ's occupies the facility under the terms of a long-term lease.
Located at 100 Corporate Dr., the property is situated on 17.53 acres of land located immediately adjacent to I-495, which provides regional access via exit 17 (Rte. 140). In addition to its convenient access, the property is also highly-visible from I-495 (with ADT in excess of 81,500 vehicles). The asset is well poised to cater to the family-friendly towns of Franklin, Hopkinton, Medfield, Foxboro, Medfield and Walpole.
HFF operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales and commercial loan servicing.
www.hfflp.com