Walmart recently strengthened its geographical footprint with the acquisition of Monroeville Mall, a location roughly 12 miles east of Pittsburgh, Pennsylvania.
According to reports from CNBC, Walmart hired Texas-based Cypress Equities to manage the property and oversee the redevelopment of the mall. In a statement, the retail chain noted that it “is very interested in being part of any future redevelopment of this site.” It declined to share specific plans for the future of the mall.
CBL Properties sold the mall—which is located on a 136-acre site—in a $34 million all-cash deal, the Tennessee-based mall owner reported late last month.
Walmart continues to expand its footprint, as well as that of its popular club chain banner. Walmart currently has more than 4,600 stores and about 600 Sam’s Club locations in the U.S. For more updates on this expansion, leave a tab open to Deli Market News.
