Property Summary
ESSENTIAL INFORMATION
- Corporate Guaranty by BJ's Wholesale Club, Inc.
- Absolute Net Lease
- Below Market Rent
- Strong Increase in Extension Rents
- Long-Term Occupancy
- Dense Demographics
- Prime, Central Location
Description
Sentinel Net Lease, LLC (“Sentinel”) acquired the 119,600 square foot BJ’s Wholesale Club (“BJ’s”) located in Rochester, NY. The property is 100% occupied by BJ’s Wholesale Club., one of the largest warehouse club chains in the United States and a credit-rated tenant (NYSE: BJ).
Key Metrics
- Purchase Price: $16,370,000
- Net Rentable SF: 119,600
- 7.49% Capitalization Rate based on Year-1 NOI
- Estimated 2.2x Equity Multiple
- Target 17.6% net IRR to investors
- Lease Expiration: December 30, 2026. Four 5-year extension options
- “NNN” Lease
Gallery
Location
Address
300 Bellwood Drive, Rochester, NY 14606