PASADENA, Calif. — JRW Realty, a nationwide commercial real estate brokerage dedicated to finding and delivering net-leased properties, has facilitated the acquisition of six Walmart Neighborhood Markets in Louisiana on behalf of its client for a total price of $84 million.
The six stores account for approximately 43,000 square feet each and are located in the southern or coastal Louisiana towns of Meraux, Houma, Prairieville, New Iberia, Opelousas, and Thibodaux. All purchases have single-tenant net leases in place, with individual prices ranging from $11.8 million to just under $16.5 million. The total square footage of the six stores is 257,427.
JRW Realty’s Jennifer Rodriguez Ventura facilitated the deal on behalf of an institutional buyer with a demand for specific net-leased properties. JLL’s Alex Sharrin represented the seller in the transaction.
“Jennifer worked diligently to bring this transaction to fruition,” JRW Realty’s president of single-tenant net lease Melinda Marston said. “We always seek the right kinds of properties for our clients’ private real estate investment firms. As they have solid backing and resources, they are actively engaging in deals of this size and higher.”
Walmart Neighborhood Markets were designed in 1998 as a smaller-footprint option for communities in need of a pharmacy, affordable groceries, and merchandise. Each location employs up to 95 associates.
“Our clients have specific criteria for purchasing real estate,” Marston said. “One such criteria is net-leased properties tenanted by creditworthy clients. These Walmart Neighborhood Markets fit that description as well as anything could, and we are delighted to have been able to bring this deal to our clients and to help them complete a successful closing.”
About JRW Realty
JRW Realty is a commercial real estate brokerage firm that has closed on more than 900 properties valued at more than $3.6 billion on behalf of its clients. JRW Realty’s team places special focus on due diligence, reviewing over 100 properties each week and only choosing to source for clients the best 3-4% according to their rigorous acquisition criteria. For more information, visit www.jrwrealty.com.