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BUYER: Wal-Mart Stores East LP, Bentonville, Ark.
SELLER: Equity One (Summerlin) Inc.
PROPERTY: 17105 and 17175 San Carlos Blvd. and 11320 and 11331 Summerlin Square Drive, Fort Myers Beach
PRICE: $6.35 million
PREVIOUS PRICE: $9.78 million, June 1998
LAW FIRM ON DEED: Adams and Reese LLP, Tampa
PLANS, DESCRIPTION:
Retail giant Wal-Mart Stores Inc. purchased the Summerlin Square shopping center for $6.35 million.
The price equated to $254,000 per acre.
The 25-acre property at the southeast corner of Summerlin Road and San Carlos Boulevard, has been largely vacant since mid-2012, when a Winn Dixie grocery store closed. Wal-Mart Stores plans to demolish the existing buildings to create a 154,000-square-foot Supercenter.
“We are moving forward with our plans for a store in Fort Myers, which is scheduled to open next summer,” Walmart spokeswoman Amanda Henneberg wrote in an email to the Business Observer. “We look forward to bringing access to affordable groceries and general merchandise to the community, while creating 300 jobs in the area.”
John Mounce of LandQwest Commercial represented the seller and Peter Klein of MeLandCo Real Estate Services represented the buyer.
Wal-Mart operates more than 11,000 stores in 27 countries worldwide.
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