Fort Lauderdale, Fla. — Marcus & Millichap has brokered the $26.1 million sale of a 189,543-square-foot Walmart Supercenter in Fort Lauderdale.
Wal-Mart Stores Inc. has a 20-year absolute net ground lease for the store, which is located within Riverbend Marketplace, a new 36-acre retail development less than three miles from Fort Lauderdale’s central business district. The store is the newest prototype for Walmart Supercenters, according to Marcus & Millichap. Lori Schneider of Marcus & Millichap, along with Aztec Group, represented the seller, Gatlin Development, in the transaction. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the buyer, a 1031 exchange investor.