PALM BEACH GARDENS, FL-Locally based Ram Realty Services has acquired 11 Home Depot Landscape Supply stores in the Atlanta and Dallas areas for $22 million. The properties were acquired from Home Depot, which closed all of its Landscape Supply stores in November. The sites range in size from 4.5 to nine acres and the stores are approximately 12,000 sf.
Ken Baye represented Ram Realty Services and Mike Folio, principal with Corporate Property Dispositions, handled the deal for Home Depot. Baye tells GlobeSt.com that Home Depot decided to close the stores–the only Landscape Stores in the country–to focus on its core business. “Home Depot had an interest in selling them as a package,” Baye says. “We felt they were solid sites located in strong suburban markets.”
Baye says the Dallas sites have placed on the market for sale and the Atlanta sites are being considered for redevelopment. The company will likely make a decision regarding the Atlanta sites within the next 30 days. Redevelopment will likely consist of razing the existing structure and building new retail space. “We saw the acquisition as many a land opportunity,” he says.
The stores in the Atlanta area are: 475 Parkway 575 in Woodstock; 1582 Janmar Rd, in Snellville; 4600 South Cobb Dr. in Smyrna; 16840 Old Highway 41 in Kennesaw; and 25460 Satellite Blvd. in Duluth. The stores in the Dallas area are: 2460 Highway 121 in Plano; 5721 Bryant Irvin Rd in Fort Worth; 5301 South Cooper in Arlington; 2945 Frankford Rd. in North Dallas; 4120 William D. Tate Ave. in Grapevine; and 2620 MacArthur Blvd. in Lewisville.