News:
Brokerage
Posted: February 28, 2025
Marcus & Millichap arranges $12.46m sale of net-leased BJ’s
Bangor, ME Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, completed the sale of BJ’s Wholesale Club, a 91,828 s/f retail property located at 110 Longview Dr. for $12,460,350.
“We received serious interest in this deal from several institutional buyers,” said Adam Cohen, first vice president investments. “In the end, we selected a buyer who owns multiple BJs locations nationwide and whom we knew would operate quickly and efficiently in closing this deal, which is exactly what they did.”
Cohen and Brett Kilar, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller and procured the buyer, a large nationally recognized real estate investment trust. Thomas Shihadeh is the firm’s broker of record in Maine.
BJ’s Wholesale Club is on a 13-acre lot in one of the city’s primary retail corridors, near a 60-acre shopping center and national retailers such as Target, Lowe’s and Walmart. The property operates under a corporate-backed, long-term NN lease with rent escalations every five years. Recent upgrades include a full interior and exterior renovation, a new roof and the addition of a gas and propane filling station.
MORE FROM Brokerage
RapDev leases 17,587 s/f at 501 Boylston St. - lease brokered by JLL
Boston, MA RapDev, a leading software-engineering and DevOps consultancy, has leased 17,587 s/f at 501 Boylston St. in the city’s Back Bay. The company moved into the new space this summer, consolidating operations onto a single floor to accommodate growth and create a workplace that reflects its collaborative culture.
Quick Hits
.png)
Columns and Thought Leadership
Newbury Street: Boston’s timeless retail gem thrives in a modern era - by Joseph Aquino
Boston’s iconic Newbury St. continues to thrive as one of the most vibrant and compelling retail corridors in the United States. Nestled in the heart of the Back Bay, this historic St. has evolved into a powerhouse of high-St. retail, where luxury meets lifestyle and legacy brands coexist with up-and-coming names. With its European charm, diverse architecture, and unmatched foot traffic, Newbury St. remains a dynamic reflection of Boston’s energy, culture, and economic strength.
Placemaking and retail in 2024 - by Carol Todreas
Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.
Retail / tariffs / uncertainty and (still) opportunity - Carol Todreas
As new tariffs continue to impact the global economy, retail businesses and investors are grappling with heightened uncertainty. From new high tariffs to supply chain issues to evolving consumer behaviors, continual changes are making it as or more challenging than the pandemic years. Yet, amidst this turbulence,
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
