Walmart Supercenter to open in summer

3.13.2009

Walmart’s Supercenter taking shape on North Tryon Street near City Boulevard should open this summer, a spokesman said. A spokesman.
Meanwhile, Walmart has its current discount store and 16 acres at University Place on the market for $10 million – more than twice the price of similar Walmart properties nationwide.
The new Supercenter will have about 177,000 square feet of space compared to about 125,000 square feet at the current discount store. The extra space will include a full line of groceries.
The state has approved a new traffic light for Walmart’s main entrance, at North Tryon Street and Shopping Center Drive (the road that leads to Home Depot). A city transportation department staff person said the traffic light should go into operation in April.
Shopping Center Drive eventually will connect to IKEA Boulevard as part of a grid of new streets between City Boulevard and McCullough Drive.
The Walmart discount store at University Place will close once the new store opens. Walmart lists 32 properties for sale at www.walmartrealty.com. The 15-year-old University City store and its 15.6 acre site are listed for $10 million – more than a million dollars higher than the next most expensive building. Most other properties with similar buildings and acreage list for $3 million-$5 million.
Walmart purchased its new property for about $7.2 million, according to county tax records. A building permit issued last fall estimates the construction cost at $15.1 million.


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