WOODSTOCK, GA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 115,396-square foot BJ’s Wholesale Club in Woodstock. (top right photo)The sales price of $16.05 million represents $139 per square foot.
Sonny Molloy, an associate vice president investments in Marcus & Millichap’s Atlanta office, represented the seller, a private investor based in Boca Raton, Fla.
Jason Vitorino, an associate vice president investments in the firm’s Dallas office, and Philip Levy, a senior associate, also based in Dallas, represented the buyer.
“Woodstock is the 10th-fastest growing suburb in United States,” says Molloy. “Due to strong demographics, growth of the Woodstock market and consumer desire for wholesale products as a means of hedging these inflationary times, BJ’s Wholesale Club should remain profitable and highly successful.”
Located at 105 Long Drive, the property is situated immediately off Interstate 575 with two main access points, including a four-way lighted intersection off State Route 92. BJ’s Wholesale Club benefits from its prime location near a Super Target Power Center, Wal-Mart, Home Depot, Lowe’s, Ingles, PetSmart, Starbucks, CVS, Old Navy and Kohl’s. A His Hands Church and a Dixie Motor Speedway also serve the property as large traffic generators.
In 2007, the population within five miles of the property was approximately161,890, which represented a 25 percent increase from 2000. It is expected that this number will increase another 12 percent in the next five years.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716.
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