Inland Private Capital Corporation (IPC) has sold BJ’s Wholesale Club property located in Gainesville, Va.
IPC, through its subsidiary that serves as asset manager, facilitated the sale of the property on behalf of DC MSA Retail DST, one of IPC’s 1031 investment programs.
The sale resulted in a total return to investors of 192.8 percent of their original investment.
The single-story, 76,267-square-foot retail building is located at 5100 Wellington Road and was acquired by IPC in 2012. The property is 100 percent leased to BJ’s Wholesale Club, Inc., a membership-only warehouse club chain based in Westborough, Mass., which primarily operates on the East Coast.
“Warehouse clubs have performed incredibly well since the onset of the pandemic and have cemented their importance in the retail landscape,” said Dan Zatloukal, executive vice president and head of asset management of IPC. “This has led to increased investor demand which we were able to