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ERG Property Advisors Sells Freestanding BJ's Restaurant & Brewhouse in Jacksonville, Florida

NEW YORK — December 3, 2013 — ERG Property Advisors is pleased to announce the sale of 15022 Max Leggett Parkway, Jacksonville, Florida . 

 
The property is a free standing building with a 20 year ground lease to BJ's Restaurant & Brewhouse (NASDAQ: BJRI).
 
The property is located on a outparcel to River City Market Place a 879,000 square foot shopping center on Max Legget Parkway. The shopping center has 69 stores with a Wal-Mart Supercenter, Lowes, Hollywood Theaters and Gander Mountain as anchor tenants.
 
BJ’s Restaurants, Inc. (NASDAQ: BJRI) currently owns and operates 131 casual dining restaurants under the name BJ's Restaurant & Brewery.
 
The Company operates several microbreweries which produce and distribute BJ's handcrafted beers throughout the chain.
 
The property sold for $4,100,000 which represents a cap rate of 6.2%. Andrew Greenberg, Senior Director of Retail, and Evan Street, Director of Investment Sales of ERG Property Advisors, brokered this transaction. 
 
For more information about this property, please contact Andrew Greenberg at (646) 253-0950 or email agreenberg@ergpa.com. Or contact Evan Street at (646) 253-0965 or email estreet@ergpa.com
 
About ERG Property Advisors
 
ERG Property Advisors is a full-service commercial brokerage company based in New York City. Our core activities are investment sales, mortgage brokerage and direct capital services. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG’s Retail Division specializes in the disposition of commercial investment real estate property nationally with a focus on freestanding Net-Lease properties. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Through strategic alliances with select companies we are able to offer our clients access to mortgage brokerage, direct capital services and investment sales brokerage. Visit www.ergpa.com for recent deals and press coverage. 
 
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