This is an interesting development given that we just lost some of our local Sears and Kmart stores. Do you like Wal-mart better? Or do you wish the other stores were sticking around?
Walmart has signed a long term lease to place one of its Neighborhood Markets in the site once occupied by a Wild Oats store in the Foothills Shopping Center at Juan Tabo and Menaul NE.
The 34,000-square-foot anchor site in the Northeast Heights’ center will be the nation’s largest retailer’s third grocery operation in Albuquerque.
The store is scheduled to open later this year. It will carry groceries and health and beauty products as well as a limited supply of general merchandise. Walmart debuted the smaller neighborhood market concept in 1998 and has fewer than 200 in the U.S.
Walmart Neighborhood Markets currently operate at 9600 Sage Road SW and 8511 Golf Course Road NW in the Duke City. There are seven Walmart Supercenters in the Albuquerque metro region and most encompass more than 200,000 square feet. Walmart Neighborhood Markets average 42,000 square feet nationally.
Brett Hills of NAI Maestas & Ward represented Texas-based landlord Red Tail Acquisitions in the deal while Jay Schneider of Scottsdale’s Frontera Development represented Walmart. Lease terms were not disclosed.
Read more http://www.bizjournals.com/albuquerque/news/2012/01/04/walmart-to-open-third-albuquerque.html
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