Walmart buys Denham Springs land for development of neighborhood market, gas station

Walmart, through its real estate business trust, has purchased a roughly 5.8-acre tract at the corner of La. 16 and Vincent Road in Denham Springs, on which it plans to develop one of its neighborhood market stores, which are smaller than its usual retail stores. Walmart also plans to develop a gas station on the site. The retail giant paid $1,392,000 for the property, which it bought from G & D Storage, a limited liability company owned by Natchez businessmen Vidal David and Gary Guido. Randy Herring with Mike Falgoust & Associates represented the sellers in the deal, which closed Thursday, while Dennis Carlton with Carlton & Associates represented Walmart. Herring says the sellers have approximately 6 acres of adjacent, vacant land for sale, and they hope to sell it for additional retail development. In late January, Walmart paid $3,022,500 for a piece of land at the corner of La. 42 and La. 44 in Prairieville, on which it also plans to build a new store and gas station.

Article Provided by the Greater Baton Rouge Business Report  |  Steve Sanoski