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Thibeault Development, Rumney Marshview LLC Sell Revere BJ’s Store For $16.4M

Oct 15, 2013 | Reprints | Unlock Link | Print

Revere BJs Wholesale Club William Thibeault of Thibeault Development and Rumney Marshview LLC have sold a BJ’s Wholesale Club in Revere to Coventry Crossing LLC for $16.4 million.

Rumney Marshview purchased the former brownfield, junkyard site in 2007 for $6.75 million. Following extensive environmental remediation, permits were obtained for the big box warehouse, along with 261 residential units.

The remaining 6 acres of the original property on Ward Street, along with the residential permits, were not part of the sale; but plans are underway for development of three residential building adjacent to the BJ’s site.

Todd Tremblay and Bob Horvath of Marcus and Millichap Real Estate represented Rumney Marshview LLC. East Boston Saving Bank of Peabody financed the property for local investors Coventry Crossing LLC.

Commercial & Industrial