Miami, Florida, February 17, 2009 Bilzin Sumberg Baena Price & Axelrod LLP announced today that Real Estate Partner, Adam D. Lustig, and Real Estate Associate, Jariel R. Bortnick, closed on the sale of a BJ's Wholesale Club (BJ's) located in Woodstock, Georgia, to Cole BJ Woodstock GA, LLC, an affiliate of Cole Real Estate Investments. BJ's is a membership-based retail store based in the eastern portion of the United States.
Representing Belmont Properties Woodstock, LLC, Mr. Lustig and Mr. Bortnick negotiated the approximately $16 million sale of the property. In addition, the Bilzin Sumberg team also handled the closing of the assumption of an approximately $10.1 million securitized loan by the buyer. The transaction took over six months to close.