October 8, 2019
A New York real estate investor sold a single-tenant, net-leased Walmart store in Caldwell, TX, to a private buyer for $2.9 million. Walmart recently extended its lease at the 39,994-square-foot property at 475 State Highway 36, and has six years remaining in the primary term of the absolute triple-net lease.
Randy Blankstein and Jimmy Goodman with The Boulder Group negotiated the transaction. “Walmart properties with proven operating histories continue to garner significant investor interest,” Blankstein said. Added Goodman: “Texas properties continue to be in demand with all investor classes.”
Walmart opened the location in 1984, and exercised multiple renewal options since that time. The store benefits from lack of competition in the area, and has a low rent-to-sales ratio.
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