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HOUSTON-Wal-Mart Stores Inc. is disposing of 42 prime locations in favor of larger buildings in the same market, Donna Kolius, senior vice president with CB Richard Ellis Portfolio Services in Houston, tells GlobeSt.com.

Kolius, who is heading up the marketing team, says each location represents a viable, successful store, but the Arkansas-based retailer is scrapping the buildings because they don’t allow for expansion to the Supercenter concept. In recent months, 19 stores were sold. Kolius says the national crisis has set the sale back somewhat. She says it typically takes 4 1/2 months to dispose of a portfolio.

Of the 23 stores remaining to be hawked, Wal-Mart is looking for a short-term sale-leaseback until a new Supercenter in the same area is ready for move in. Most of the stores represent traditional Wal-Marts although Kolius says a few are Sam’s Clubs. The properties are scattered throughout 13 states and total 2.2 million sf on 237 acres. In Texas, the properties up for grabs are Gainesville, 88,909 sf; Garland, 125,844 sf; Lubbock, 82,233 sf; Round Rock, 92,574 sf; and Webster, 112,846 sf. Advertised asking prices range from $500,000 to $8 million.

Kolius has built a nationwide team of local brokers to help with the Wal-Mart disposition. The Houston-based portfolio services team specializes exclusively in multiple property sales on behalf of single sellers. Clients are most often financial institutions, retailers and industrial portfolios, including such high-profile players as Shell Texaco and ExxonMobil.

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