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Wal-Mart Unloading 42 Stores in Expansion Run

HOUSTON-A CB Richard Ellis team in Houston is marketing a big box portfolio for Wal-Mart, which is looking to cut short-term sale-leasebacks. Wal-Mart wants to unload the stores and build Supercenters in the same market, says the team leader.

By Jennifer Brenner Andrade | Updated on October 30, 2001

HOUSTON-Wal-Mart Stores Inc. is disposing of 42 prime locations in favor of larger buildings in the same market, Donna Kolius, senior vice president with CB Richard Ellis Portfolio Services in Houston, tells GlobeSt.com.

Kolius, who is heading up the marketing team, says each location represents a viable, successful store, but the Arkansas-based retailer is scrapping the buildings because they don’t allow for expansion to the Supercenter concept. In recent months, 19 stores were sold. Kolius says the national crisis has set the sale back somewhat. She says it typically takes 4 1/2 months to dispose of a portfolio.

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