JANAF Shopping Yard Welcomes BJ’s Wholesale Club Gas ServiceDecember 17, 2015
McKinley is pleased to announce the opening of the BJ's Wholesale Club gas service at JANAF Shopping Yard located in Norfolk, Virginia. This expansion will greatly enhance the already dominant position BJ's Wholesale Club enjoys in the Tidewater market, and provide an additional amenity for its customers. An adjacent parcel on Virginia Beach Boulevard was added to the main BJ's Wholesale Club facility, and a new market window orientation to JANAF was created. The grand opening celebration was recently held on December 10, 2015 as the gas service component opened for business for the very first time.
This expansion coincides with the long-term lease renewal of BJ's Wholesale Club, which is a core anchor for JANAF Shopping Yard. JANAF Shopping Yard is a one million square foot regional shopping destination located at the intersection of Military Highway and Virginia Beach Boulevard in the very heart of the Tidewater MSA. Super Wal-Mart is a parking plate partner and shadow anchor, and JANAF Shopping Yard is the home to over 150 stores, restaurants and services.
“We are pleased that we were able to assist a valuable long-term tenant by expanding its business,” stated Matthew D. Mason, Managing Director & Partner. “We were also able to create an improved market window on Virginia Beach Blvd. which improves the experience for our customers and also helps the other retailers,” he further added.
“This was a very complex transaction that required the cooperation and hard work of numerous stakeholders,” offered Ken Polsinelli, McKinley's Chief Real Estate Officer. “Our team did an exceptional job, and we are pleased that we will be closing on a long-term CMBS loan with KeyBank in January.”