OAK BROOK, ILL.—Inland Real Estate Acquisitions Inc. has acquired BJ’s Wholesale Club in Capitol Heights, Md., for approximately $32.4 million. Joe Cosenza, president of Inland Real Estate Acquisitions and a vice chairman of The Inland Real Estate Group Inc., facilitated the transaction on behalf of Inland Diversified Real Estate Trust Inc.
“This acquisition includes a very attractive tenant occupying brand-new real estate in a highly populated area,” Cosenza said. “With a population of more than 242,000 people within five miles and average incomes around $70,000, we feel this property offers stability for years to come.”
BJ’s Wholesale Club is a membership-only warehouse chain operating in the eastern U.S. Completed in 2010, the 117,875-sq.-ft. retail building is located at 1781 Ritchie Station Court in Capitol Heights, 12 miles west of Washington, D.C. The property includes a fuel station.
The property is located at 1781 Ritchie Station Court in Capitol Heights, 12 miles west of Washington, D.C. BJ’s Wholesale Club occupies the building subject to a triple net lease with a remaining term of 18 years.