Walmart Anchors Luring Investors
A Dunwoody Walmart Neighborhood Market could help a shopping center owner fetch a strong price for its property. M&P Shopping Centers has tapped Marcus & Millichap's Don McMinn (here) and Zach Taylor to market their Winter Village Shopping Center, a 63k SF shopping center anchored by Walmart’s new grocery store concept.
Don tells us there's good reason to bring this property to market: he just sold a Walmart Neighborhood Market ground lease in Pensacola for a strong price. Don says the offering generated eight offers and closed all cash with a 1031 buyer from California for $4.1M “at the lowest cap rate to date for a Walmart Neighborhood Market.” That's prompting owners of the Dunwoody center and one in Charleston to put up for-sale signs on their properties.
