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Beford Wal-Mar Supercenter Sells for Low Price of $2.3 Million

Local Investor Partners with Industrial Realty Group in Wal-Mart Acquisition
December 21, 2017
Bedford Rockside LLC, led by Solon, OH real estate developer Chris Semarjian and Stuart Lichter of Los Angeles-based Industrial Realty Group, acquired the former Wal-Mart Supercenter in Bedford, OH from Wal-Mart Stores (NYSE: WMT) for $2.3 million, or about $12 per square foot.

The vacant 195,592-square-foot building, located on a 20-acre site at 22209 Rockside Rd., was assigned a market value of $12.8 million by Cuyahoga County for tax purposes. Wal-Mart paid $4.7 million for the site to develop the supercenter in 2007.

The property has potential for retail redevelopment or industrial if the city approves industrial use for the shopping center in the future.

Chris Seelig of Colliers International represented Wal-Mart in the disposition.

Please see CoStar COMP #4071416 for more information on this transaction.
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