A new Walmart that is under construction in southeast Ocala has been purchased as part of a six-store deal worth over $51 million.
LQ Commercial announced the acquisition, which includes multiple land holdings, on behalf of Wal-Mart Stores on July 24. In total, approximately 149.7 acres of property were purchased with a combined transaction value of $51,084,332.
“The strategic acquisitions span multiple markets and reinforce Wal-Mart’s aggressive expansion strategy in Florida. These rapid-fire acquisitions dually enforce a focus of physical expansion across diverse geographics,” reads a statement from LQ Commercial.
The acquisitions include a 9.3-acre land lease for the new Walmart Neighborhood Market that is currently being constructed at 3535 SE Maricamp Road in Ocala. The former Winn-Dixie at the site, which was previously known as Cedar Shores Shopping Plaza, was demolished earlier this year to make way for the new store.
In the decade plus since the old grocery store closed, the plaza has since been renamed the Saddleback Square Shopping Center and welcomed the addition of Starbucks in 2021.
Walmart Stores East, LP, received approval to rezone the parcel in southeast Ocala last September. In addition to the market, the site will also feature a self-service gas station and two outparcels that will be open for other businesses.
Outside of Ocala, LQ also announced the acquisition of Walmart sites in Spring Hill, Venice, Freeport, Destin, and The Villages.
“These [multi-market acquisitions] demonstrate the retail giant’s confidence in Florida’s robust economy – and its consumer demand,” said Peter Klein, a Senior Associate at LQ Commercial.
Klein, who is the exclusive Florida Wal-Mart site selection representative, emphasized that each acquisition represented Walmart’s commitment to the community.
“Each represent a commitment to bring jobs and economic vitality to bourgeoning markets,” said Klein.
Formerly known as LandQwest Commercial, LQ Commercial provides property management, tenant representation, leasing, sales, and consulting services in the commercial real estate industry.
For more information on the acquisition, visit LQ Commercial online.