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Inland divests two BJ’s Warehouse stores

Al Urbanski
The value of this BJ's Warehouse in Attleboro, Mass., rose precipitously in the last five years.

Inland Private Capital Corp. announced that it has sold two BJ’s Warehouse stores.

The 115,660-sq.-ft Attleboro, Mass., property and the 89,348-sq.-ft Baltimore store were acquired by Inland in 2016. Deal prices for the sales were not announced, but the private placement investment-focused company stated that the return to stakeholders in the properties was 154%.

“Throughout the pandemic, we observed aggressive capitalization rate compression on essential business tenants such as warehouse clubs, especially throughout the triple net lease segment of the market. Given the potential for strong valuations, we decided to market the portfolio for sale,” said Keith Lampi, president and COO of IPC.

Currently sponsoring more than 275 private placement real estate offerings, the Oak Brook, Ill., company manages assets in 43 states valued at more than $9 billion.

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