BJ’S WHOLESALE GROUND LEASE IN METRO BOSTON SELLS FOR $16.4M

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REVERE, MASS. — Marcus & Millichap has arranged the $16.4 million sale of the ground lease on a 120,224-square foot BJ’s Wholesale Club retail store in suburban Boston. The sales prices equates to $136 per square foot. Robert Horvath and Todd Tremblay, both vice presidents of investments in Marcus & Millichap’s Boston office, represented the seller, William Thibeault, owner of Rumney Marshview LLC. The buyer is a local private investor. BJ’s Wholesale Club signed its original 15-year ground lease in March 2008. Built in 2009 on a 13.8-acre parcel, the property is located approximately six miles from downtown Boston at 5 Ward St. in Revere.

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