Inland Acquires BJ’s at Ritchie Station in Capital Heights
Inland Diversified Real Estate Trust, Inc. has acquired the BJ’s at Ritchie Station in Capital Heights, MD for $32.4 million.
The 117,875 square foot asset is fully leased for another 18.3 years. The average annualized base rent per square foot is $18.77. The cap rate on this deal was 6.62 percent.
A $17.82 million loan on the asset is charged interest at 4.595% and matures in August 2037.
The property is located directly on the Capital Beltway (I-495/I-95) at a newly constructed interchange and enjoys visibility to 205,000 vehicles per day.
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