Six Walmart Neighborhood Markets Acquired for $84 Million
PASADENA, CA - A recent deal in the retail sector is bringing alterations to Walmart’s geographical footprint, as it was announced that commercial real estate brokerage JRQ Realty has revealed plans to acquire six Walmart Neighborhood Markets stores in Louisiana.
"Our clients have specific criteria for purchasing real estate," JRW Realty's President of Single-Tenant Net Lease, Melinda Marston, said. "One such criteria is net-leased properties tenanted by creditworthy clients. These Walmart Neighborhood Markets fit that description as well as anything could, and we are delighted to have been able to bring this deal to our clients and to help them complete a successful closing."
The $84 million acquisition includes six 43,000-square-foot locations in Meraux, Houma, Prairieville, New Iberia, Opelousas, and Thibodaux, with a total square footage of 257,427. According to a press release, all purchases have single-tenant net leases in place, with individual prices ranging from $11.8 million to just under $16.5 million.
"Jennifer [Rodriguez Ventura] worked diligently to bring this transaction to fruition," Marston said. "We always seek the right kinds of properties for our clients' private real estate investment firms. As they have solid backing and resources, they are actively engaging in deals of this size and higher."
JRW Realty's Rodriguez Ventura facilitated the deal on behalf of an institutional buyer with a demand for specific net-leased properties, and JLL's Alex Sharrin represented the seller in the transaction.
With this acquisition underway, AndNowUKnow will keep a close eye to see how this further impacts Walmart’s store footprint and expansion plans. Stay tuned for our next update.
