Stanley J. Sidel and Joseph J. Hegenbart, senior vice presidents at Legg Mason Real Estate Services/Spectrum Financial arranged the financing in association with John Coe, vice president of Legg Mason Real Estate Services's Washington DC regional office. The loan was provided by a major life insurance company.
BJ's Wholesale Club is headquartered in Natick, MA and operates 139 wholesale clubs in 16 states in the eastern US offering its members a variety of general merchandise and groceries. The company has 14 locations in this state. BJ's has occupied this property, which is situated on an 11-acre site, since the building was constructed in 1993.
The company recently lowered its earnings estimate for the fourth quarter and reported that for the month of December 2002, its sales increased 11% to $765.5 million from $689.4 million in December 2001.
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