Stan Johnson Company Brokers Sale of Massachusetts BJ’s Wholesale Club at Record Low Cap Rate


Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a BJ’s Wholesale Club located at 105 Shops at 5 Way in Plymouth, Massachusetts. The 119,598-square-foot big box retail property sold for an undisclosed price and set a new nationwide cap rate record for the tenant. Anne Perrault and Ryan Butler of Stan Johnson Company represented the seller, a New York-based individual investor. The property was purchased by a Massachusetts-based developer as part of a 1031 exchange.

“Despite a very aggressive cap rate, we were able to secure multiple qualified offers,” said Perrault, Director in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “A lot of credit goes to the buyer as well. In addition to meeting the asking price, they were highly organized and communicated very well. Both parties were glad to complete the transaction prior to year-end.”

The property was originally constructed in 2004 as a build-to-suit for the tenant and is situated on 22.21 acres within The Grove, an open-air shopping center that is the city’s premier retail destination. Neighboring tenants include Kohl’s, Big Lots, Planet Fitness and PetSmart, among others. BJ’s Wholesale Club operates on a long-term absolute triple net lease and draws from an 80-square-mile trade area with more than 115,000 consumers. Plymouth, Massachusetts is located approximately 40 miles south of Boston.

View Profile
View Profile
About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $45 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.