The Wal-Mart Real Estate Business Trust has purchased for $10.9 million a shopping center on Coursey Boulevard that is the home for a Wal-Mart Neighborhood Market.
Wal-Mart bought the Coursey Commons Shopping Center at 14241 Coursey from Coursey Commons Shopping Center LLC in a deal that was filed Monday with the East Baton Rouge Clerk of Court’s Office. Coursey Commons LLC has the same physical address in New Hyde Park, New York, as Kimco Realty.
Coursey Commons is a 67,755-square-foot shopping center, anchored by the Wal-Mart Neighborhood Market, which takes up nearly 60 percent of the center. The property is 91 percent leased. Wal-Mart had a long-term lease on the site, according to Kimco sales brochures. Other tenants in the center include Smoothie King, AT&T, UPS and Sally Beauty. The center sits on 9.4 acres.
This is the second deal Wal-Mart has made in the past week for Coursey land. On Dec. 9, the company bought a 5.4-acre site near the intersection of Coursey and Sherwood Forest Boulevard for $2.1 million. The retail giant has submitted plans to build a Neighborhood Market on that site.
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