Wal-Mart Buying Uptown

You’ve heard by now of plans to build a 40,000-SF Walmart Neighborhood Market in the rapidly growing southwest Bentonville area.

In case you wondered, the transaction giving Wal-Mart Stores Inc. most of the real estate for that new store was recently completed for $1.9 million.

Wal-Mart Real Estate Business Trust bought the property, six lots in the Uptown Village addition totaling 12.14 acres, at the northwest corner of I Street and Arkansas Highway 12. The acreage had an appraised value in 2011 of $1.98 million. The seller was Uptown Village LLC, led by John Alford.

Alford also sold 6.13 acres in the area to Wal-Mart in April 2008 for $1.07 million.

The store is expected to open in the fall.