CBRE Closes Sale of BJ’s Wholesale Club East of Philly
The New Jersey property changed hands for $15.6 million.
BJ’s Wholesale Club, Maple Shade, N. J.
Maple Shade, N.J.—CBRE recently closed on the sale of a BJ’s Wholesale Club located at 131 East Kings Highway in Maple Shade, 12 miles from Philadelphia’s Center City.
Brad Nathanson, executive vice president with CBRE, led the marketing efforts on behalf of seller SIN Ventures Maple Shade and procured the buyer, Apex Financial Advisors. The building changed hands for $15.6 million.
The 109,841-square-foot property received a complete makeover in 2005, including a major interior remodeling, a liquor operations expansion and an additional 5,609 square feet for a BJ’s Tire Center.
“There was a tremendous demand for the asset given BJ’s long tenure at this location coupled with their high volume sales and low rent. The property is well positioned at the signaled corner of Kings Highway and Lenola Road bordering Maple Shade Township and Morrestown, two of the wealthiest towns within southern New Jersey, with little to no wholesale club competition in the immediate area,” said Nathanson in prepared remarks.
Rendering courtesy of CBRE
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