News: Retail
Posted: January 27, 2011
Holliday Fenoglio Fowler arranges $9.2 million loan for BJ's Wholesale Club
The Boston office of Holliday Fenoglio Fowler, L.P. (HFF) has arranged a $9.2 million construction loan for a to-be-built, 85,188 s/f BJ's Wholesale Club.
HFF directors Janet Krolman and Greg LaBine and senior real estate analyst Lauren O'Neil worked exclusively on behalf of the borrower, a joint venture between Saxon Partners and Cape Breton Corp., to secure the loan through Sovereign Santander Bank.
The BJ's Wholesale Club will include a free-standing building plus a fueling station. The 11.5-acre site is located along Hubbard Ave. adjacent to Berkshire Crossing and close to Rte. 9 and downtown.
"The new BJ's in Pittsfield will satisfy the demand for a warehouse club for much of the Berkshires, as the closest wholesale warehouse club is located 31 miles to the west in Albany, N.Y.," said Krolman.
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