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Walmart Signs New Lease On Existing Store Site

SWANSEA, MA–The two-decade long agreement allows the company to replace its in-line store here, at a local mall, with a superstore.

By Rayna Katz | Updated on February 19, 2014

In a rare 1031 property exchange involving two New York investors, a 21-acre parcel of land in a neighboring state, the world’s largest retailer, and a recently negotiated long-term triple-net ground lease, Colliers International has completed a retail investment sales transaction valued at approximately $11 million.

Walmart has signed a new 20-year ground lease on a parcel adjacent to Swansea Mall here, where it has long had a presence. After several years of improving sales and growing demand for its products, including groceries, the company decided to replace its current in-line store with a free-standing Walmart Superstore next to the site of its existing store.

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