New Walmart Neighborhood Market set for southwest corner of Ulmerton and Starkey roads
LARGO, Fla. (August 13, 2013) – A 5-acre tract on the southwest corner of Ulmerton Road and Starkey Road has sold for $2.9 million, setting the stage for development of a new Walmart Neighborhood Market on the site.
Colliers International Tampa Bay’s John F. Gerlach, CCIM, Managing Director of Investment Services, and Mackenzie Gerlach, Associate of Investment Sales, represented the seller, Gary Boesch. The buyer, BDG Ulmerton, LLC, was represented by European Equities.
The property, located at 9020 Ulmerton Road in Largo, is the site of a former $1-a-seat theater, Ulmerton Cinema 9. The theater, which closed in 1999, will be demolished in order to build the new grocery store.
BDG acquired contiguous parcels to create a site large enough for Walmart, set to be the largest anchor tenant in the new development, and other smaller retail tenants. BDG will be developing one section of the property, with another developer working on the Walmart site.
“Given the location, the property provided an excellent opportunity for new retail development,” said Mackenzie Gerlach of Colliers. “Large corporate entities like Walmart are dominating retail sites these days, and are the source of most major new retail projects to the marketplace.”
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