Business & Tech
Walmart Retail Center Purchased For $44.5 Million In Norwalk
The 165,409-square-foot retail plaza in Norwalk was recently purchased for $44.5 million, according to a commercial real estate broker.
NORWALK, CT — The Walmart Center retail plaza in Norwalk was recently purchased by Walmart for $44.5 million, commercial real estate broker Royal Properties Inc. announced Monday.
According to a news release, Royal Properties brokered the sale of the 165,409-square-foot shopping center, located at 650 Main Avenue, which is anchored by a 118,630-square-foot Walmart store.
Additional tenants of the center include Ulta Beauty, Aspen Dental, Panera Bread and QDOBA Mexican Eats.
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Salad and wraps chain Just Salad, which announced plans to open a new Norwalk location at the center last year, is also listed in the release as a tenant.
"The amount of interest in this center was substantial," Jeff Kintzer, principal of Royal Properties, said in a news release. "With several options to consider, Walmart stepped up with the best overall offer."
Find out what's happening in Norwalkfor free with the latest updates from Patch.
Kintzer represented the seller, and Barry Milberg of New York-based Treeline Real Estate Corp represented the buyer.
Walmart Center sees over 30,000 cars per day, according to Royal Properties.
Nearby businesses include LA Fitness, T.J. Maxx, Starbucks, Michaels, Chipotle Mexican Grill, Stop & Shop, Hobby Lobby and Total Wine & More.
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