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Walmart to Double Size of Tucson Store
Construction is underway on a 160,000 square feet Walmart Superstore at the southwest corner of First Avenue and Wetmore Road in Tucson. Shindico Realty and its partner, Larsen Baker, sold the property for $17 million. The property sale will allow Walmart to nearly double the size of its current 86,000 square foot store at Tucson Place Shopping Center. Walmart anticipates opening the expanded Superstore later this year.
Shindico has been a co-owner of Tucson Place alongside Larsen Baker, which has served as developer and property manager since the center’s assembly. Larsen Baker will continue to manage the remaining 140,000 square feet of the shopping center for the partnership. Other tenants at the center include Best Buy, Office Max, Petco, Ace Hardware, Sally Beauty Supply and Aaron’s Rents.
Common Bond Development represented Walmart in the transaction.
Tucson Place forms part of Shindico’s select U.S. retail holdings, held in partnership with leading regional operators.
- ◦Sale/Acquisition
- ◦Development
