BJ’s Wholesale Club

Orange Park, Florida

About the Investment
✓ 11 Years of Term Remaining on Original 20-Year Triple-Net (NNN) Lease
✓ Upcoming Rent Escalation Increases Cap Rate by 20 Basis Points
✓ Tenant Recently Extended the Lease Early For an Additional 12.5 Years of Term
✓ Tenant Agreed to a FULL Roof Replacement and Other Maintenance Expenses
✓ BJ’s Has Operated at this Location since 2000 | Strong Tenant Commitment
✓ This Location Features a Gas Station and Tire Installation & Sales –
Important Value & Traffic Drivers for the Tenant | Multiple Revenue Streams
✓ Multiple Revenue Streams
✓ Attractive Rental Escalations of Five (5) Percent Every Five (5) Years
✓ Four (4) Five (5) Year Tenant Renewal Options
✓ Strong Corporate Guarantee by BJ’s Wholesale Club, Inc.
About the Location
✓ Dense Retail Corridor | Walmart, Lowe’s, Publix, Staples, Walgreens, Big
Lots, Dollar Tree, McDonald’s, Burger King, Popeyes, Hardee’s, Starbucks, Arby’s, Taco
Bell, Dunkin’ Donuts, Texas Roadhouse, and Many More
✓ Heavily Trafficked Area | Approximately 76,600 Vehicles Per Day on
Blanding Blvd | Two Points of Ingress & Egress
✓ Affluent Suburban Community | Average Household Income Exceeds $90,000 within a
One- Mile Radius
✓ Excellent Florida Real Estate | Approximately 16 Miles South of Downtown
Jacksonville | Florida’s Most Populous City & 12ᵗʰ Largest City in the Country
✓ Jacksonville Has Grown Faster than Any Other Florida City and Is Among the Fastest
Growing Cities in the Country
✓ Jacksonville is Projected to Have 14% More Job Opportunities in the Next 10
Years, Double the Growth Rate Projected Nationwide.
About the Tenant / Brand
✓ BJ’s Wholesale Club (NYSE: BJ) is Among the Top Three Membership-Only Warehouse
Clubs in Terms of Members That Operate in the United States
✓ BJ’s is Coming Off Its Best Year in Company History, Bolstered By
E-Commerce Growth & Digital Initiatives, Record Membership, and Expansion
✓ Headquartered in Westborough, MA, BJ’s has more than 226 locations in 17 states
✓ The company has more than 5 million paid members and employs more than
26,000 individuals
✓ BJ’s stock is up 50% this last year, and up more than 183% since its June 2018 IPO
✓ BJ’s offers two base types of memberships: BJ’s Inner Circle, with an annual cost
of $55, and BJ’s Perks Rewards with an annual cost of $110
✓ The Tenant Plans to Develop Another 11 Locations in 2022 and is Entering Into New
Markets
✓ Recently Bought Logistics Provider to Expand Same-Day Delivery and In-Store
Inventory