Listed by Newmark | Orange County - Irvine
$22,632,000
BJ’s Wholesale Club
Details
Property Type Retail
Sub Type Commercial
Square Footage 119,598
Cap Rate 6.50%
Brand/Tenant BJ’s Wholesale Club
Lease Type NNN
Lease Expiration 12/29/2031
Remaining Term 5.6
Rent Bumps Yes
Lease Options 3 (5-Year)
Price per SqFt $189
Year Built 2006
Acreage 11.050
Tenant Credit Corporate Guarantee
Rent Commencement 12/29/2006
Retail | 6.50% CAP | 119,598 SqFt
Marketing description
BJ’s Wholesale Club is a leading membership-only warehouse club operator on the East Coast, now in twenty-two states. BJ’s is committed to delivering value to their members and consistently offers 25% or more savings on a representative basket of manufacturer-branded groceries compared to a traditional supermarket.
BJ’s Wholesale Club’s credit rating was upgraded to BB+ in September of 2022 and has continued on an upward fiscal trajectory since, exemplifying the retailer’s positive outlook moving forward and physical real estate expansion.
Investment highlights
Fortress Credit BJ’s Wholesale Club (NYSE: BJ / S&P: BB+) | $21.46 B in 2025 Revenue
- BJ’s Wholesale Club is a leading membership-only warehouse club operator on the East Coast with 280 clubs in 22 states
- Founded in 1984, BJ’s Wholesale Club has a 40+ year operational history and today has over 8+ million members (90% renewal rate)
Dominant Midwest Grocer | Schnucks Markets, Inc. (115 Stores in 5 States)
- Schnucks is a family-owned, privately held grocery chain generating approximately $3.2-3.6 B in annual sales from 115 stores in MO, IL, IN, WI, and IA
- Founded in 1939, Schnucks has an 80+ year operational history and today has grown to the 189th largest private company according to Forbes
- In 2025, Schnucks became part of the 1939 Group, strengthening Schnucks’s operational scale and longterm growth potential
Recent Lease Renewals/Extensions
- BJ’s Wholesale Club recently renewed for an additional 5 years through December 2031
- Schnucks - Normal, IL: Tenant extended for an additional 10 years through March 2036
Fixed Rental Increases | Hedge Against Inflation
- BJ’s: 5% increases in each renewal options
- Schnucks - Peoria, IL: 3% every 5 years
- Schnucks - Normal, IL: $0.50 psf every 5 years
Dense & Affluent Demographics
- BJ’s: 85,464 people with an average household income of $70,543 live within a 3 mile radius
- Schnucks - Peoria, IL: 71,009 people with an average household income of $81,420 live within a 3 mile radius
- Schnucks - Normal, IL: 53,811 people with an average household income of $88,833 live within a 3 mile radius
Strong Retail Corridors
- BJ’s: Sits directly on NY-390 (101,906 VPD), 4.3 miles from downtown Rochester, NY, and 1.4 miles from the Mall at Greece Ridge Center
- Schnucks - Peoria, IL: Situated at the intersection of W Glen Ave & N University St (43,284 VPD), 0.8 miles from the primary retail corridor at the I-74 & IL-150 interchange
- Schnucks - Normal, IL: Direct on/off ramp access via I-55 (30,508 VPD), with immediate proximity to the I-39/I-55 interchange. 1.25 miles to Illinois State University (21,994 students), and 4 miles to downtown Bloomington.
Listing Contacts
Listed by Newmark | Orange County - Irvine
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