Wal-Mart Buys 23 Acres for 135,000-SF Supercenter

SOUTH BRIDGE, VA-Wal-Mart Real Estate Trust, the property arm of the Bentonville, AR-based national retailer Wal-Mart Stores Inc., has snapped up a 23-acre parcel of land in a $3.8 million deal with seller VMIF Arden Southbridge Venture. The Prince William County property will serve as the home of a 135,000-sf Wal-Mart Supercenter that is scheduled to debut in the summer of 2004.

The acquisition is part of the company’s domestic expansion program, which calls for the opening of as many as 55 new discount stores and as many as 210 new Supercententers. KLNB Retail served as the sole broker on behalf of buyer and seller in this transaction.