BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $9.2 million construction loan for a to-be-built, 85,188-square-foot BJ’s Wholesale Club in Pittsfield, Massachusetts.HFF directors Janet Krolman (top right photo) and Greg LaBine (lower right photo) and senior real estate analyst Lauren O’Neil worked exclusively on behalf of the borrower, a joint venture between Saxon Partners and Cape Breton Corporation 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 Avenue adjacent to Berkshire Crossing and close to Route 9 and downtown Pittsfield.
“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, New York,” said Krolman.
Formed in 1998, Saxon Partners is a retail and residential developer focused on the New England region. Their projects include Colony Place, the region’s largest open-air shopping center and Oak Point Retirement Community, the region’s largest active adult retirement community.
Contacts:
Janet N. Krolman, HFF Director, (617) 338-0990, jkrolman@hfflp.com
Gregory F. Labine, HFF Director, (617) 338-0990, glabine@hfflp.com
Kristen M. Murphy, Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
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