Walmart Buys Curran Highway Site for $7.35M
Wal-Mart Real Estate Business Trust bought the property and an adjacent parcel at 1519-1525 South State St. for $7.35 million on Dec 19.
The property includes the gravel bank on Curran Highway and land formerly used by Berkshire Concrete Co.
The retail giant filed plans for a 160,000 square foot store last fall but purchase of the 23 acres was put off until some site preparation and cleanup was completed. Buying the land means the company will begin construction soon.
BVS 5401 Investors LLC, developers for the shopping plaza, purchased the property from the city in 2007 for $700,000. The parcel was one of several bought by developers Nigro Development LLC of Albany, N.Y., and Starwood-Ceruzzi of Connecticut several years ago. Nigro has since dropped out, leaving Ceruzzi Properties of Fairfield, Conn., in control.
Ceruzzi, acting as BVS 5401 Investors LLC, also purchased the Dellaghelfa properties at 1519 South State St. and West Road for about $2.2 million in 2007, and the former North Adams Plaza in 2004 for $2.5 million.