FALLS CHURCH, VA- Zuckerman Gravely Development is readying for the commencement of rent from its recently acquired BJ’s Wholesale Club here. It closed on the 87,000-square-foot warehouse chain store from JBG Rosenfeld Retail for $26.5 million in cash last month. HFF’s Jim Meisel and Dek Potts represented Zuckerman in the transaction.

JBGR acquired the land last year, receiving approval from the city of Falls Church to build a discount-type operation. It then secured the long-term lease with BJ’s, at which point the retailer began construction. It is set to open in the first half of October.

Oftentimes a buyer--at least in a tight market--will wait for rent to start flowing before it closes on a deal, Potts tells GlobeSt.com. However, the DC-area market’s demographics and fundamentals have been attracting big box discount tenants such as Wal-Mart, Sam’s Club and Harris Teeter, he says, all of which are trying to expand their footprint in the area.

In particular, deals such as this one--a 20-year lease with a company that has minimal debt--is popular with both institutional and private money. JBGR went to market with the transaction in January. BJ's is leasing the entire 8.4-acre site through a 20-year ground lease with six five-year options. The property is located at 6607 Wilson Blvd.